Marsh & McLennan Companies, Inc.
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Marsh & McLennan Companies, Inc. (MRSH). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Risk and Insurance Services | – | – | – | $14.09B 61.8% | $15.40B 62.8% · +9.3% | $17.27B 63.8% · +12.1% |
| Consulting | – | – | – | $8.71B 38.2% | $9.13B 37.2% · +4.9% | $9.79B 36.2% · +7.2% |
| Risk and Insurance Services | $10.34B 59.7% | $12.09B 60.8% · +16.9% | $12.65B 60.8% · +4.6% | – | – | – |
| Consulting Segment | $6.98B 40.3% | $7.79B 39.2% · +11.7% | $8.14B 39.2% · +4.5% | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Risk and Insurance Services | – | – | – | $3.95B 28.0% | $4.37B 28.4% | $4.64B 26.9% |
| Consulting | – | – | – | $1.67B 19.1% | $1.77B 19.4% | $1.90B 19.4% |
| Risk and Insurance Services | – | $3.08B 25.5% | $3.09B 24.4% | – | – | – |
| Consulting Segment | – | $1.50B 19.3% | $1.55B 19.1% | – | – | – |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by region
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| United States | $8.17B 47.2% | $9.34B 47.0% · +14.4% | $10.22B 49.1% · +9.3% | $10.92B 47.9% · +6.9% | $11.67B 47.6% · +6.8% | $13.34B 49.3% · +14.3% |
| Other | – | – | – | $8.32B 36.5% | $9.26B 37.8% · +11.3% | $9.90B 36.6% · +6.9% |
| United Kingdom | $2.82B 16.3% | $3.13B 15.7% · +11.1% | $3.11B 15.0% · -0.5% | $3.56B 15.6% · +14.2% | $3.60B 14.7% · +1.1% | $3.82B 14.1% · +6.1% |
| Continental Europe | $2.88B 16.6% | – | – | – | – | – |
| Asia Pacific [Member] | $2.09B 12.1% | – | – | – | – | – |
| Other | $1.35B 7.8% | $7.40B 37.2% · +447.0% | $7.46B 35.9% · +0.7% | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 7, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.