Financials
Insurance Brokers
$76.25B
50K
Key insights and themes extracted from this filing
The company's total revenue grew by 7% due to organic growth and a favorable impact from fiduciary investment income. However, this was partially offset by an unfavorable impact from acquisitions, divestitures and other factors.
The company's operating margin and adjusted operating margin were 28.3% and 31.6%, respectively. This improvement was driven by revenue growth outpacing expense growth and long-term investments.
The company's diluted earnings per share and adjusted diluted earnings per share were $12.51 and $14.14, respectively. This reflects strong operational performance and effective capital management, highlighted by $2.7 billion of share repurchases during 2023, partially offset by an unfavorable impact from higher non-cash pension expense and other non-operating expenses.