The company completed 17 acquisitions, including McGriff Insurance Services, LLC, acquired for $7.75 billion in cash. This acquisition expands the company's presence in insurance broking and risk management services.

The company undertook restructuring activities resulting in $276 million in costs, primarily related to workforce actions and real estate reductions. These activities are expected to generate over $500 million in savings, with over $450 million already realized.

The company completed the sale of its Mercer U.K. pension administration and U.S. health and benefits administration businesses for approximately $120 million, resulting in a net gain of $35 million. This divestiture allows the company to focus on core business areas.

The company's revenue growth was partially driven by acquisitions. This indicates effective integration and leveraging of acquired businesses to contribute to overall financial performance.

The company's restructuring activities, while incurring costs, are aimed at improving operational efficiency and reducing expenses. This proactive approach to cost management demonstrates strategic decision-making.

The company issued $7.25 billion in senior notes and repaid $1.6 billion of senior notes at maturity. This indicates active management of the capital structure to optimize financing costs and manage debt obligations.

The company identifies geopolitical and macroeconomic conditions, including major wars, global conflicts, slower GDP growth, and inflation, as factors that could adversely affect its operations and investments.

The company acknowledges its exposure to significant uninsured claims arising from errors and omissions, breach of fiduciary duty, and other similar claims, particularly in its Risk and Insurance Services and Consulting segments.

The company highlights the difficulty in guaranteeing compliance with all current and potentially applicable U.S. and foreign laws and regulations, including those related to data privacy, cybersecurity, and artificial intelligence, which could materially affect its business.

The company acknowledges facing significant competition in all of its businesses from providers of similar products and services, including competition with regard to identifying and pursuing acquisition candidates.

The company's combined insurance and reinsurance services businesses compete with other insurance and reinsurance brokerage firms, insurance and reinsurance companies that market directly to consumers, and from other businesses that provide risk-related services and products or alternatives to traditional insurance brokerage services.

The company's consulting businesses face strong competition from other privately and publicly held worldwide and national companies, as well as regional and local firms, including independent consulting, broking and outsourcing firms, as well as consulting, broking and outsourcing operations affiliated with larger accounting, information systems, technology and financial services firms.

The company initiated restructuring activities focused on workforce actions, rationalization of technology and functional services, and reductions in real estate. These activities are expected to generate over $500 million in savings.

The company depends in large part on its technology systems for conducting business, as well as for providing the data and analytics it uses to manage its business. As a result, its business success is dependent on maintaining the effectiveness of existing technology systems and on continuing to develop and enhance technology systems.

The company relies on a large number of vendors and other third parties to perform key functions of its business operations and to provide services to its clients, and their actions may adversely impact the company.

The company is actively investing in generative AI tools, but the use of generative AI in certain products, services and operations may present risks and challenges that remain uncertain due to the relative novelty of this technology.

The advance of Al and large language models has given rise to additional vulnerabilities and potential entry points for cyber threats. With generative Al tools, threat actors may have additional tools to automate breaches or persistent attacks, evade detection, or generate sophisticated phishing emails or other forms of digital impersonation.

The company launched its AI Academy to promote development of essential new skills. In the six months since launch, nearly 35,000 colleagues have received their Al Academy credentials.

The company used $8.5 billion for acquisitions, net of cash acquired, indicating a strategic focus on inorganic growth and market expansion.

The company issued $7.25 billion of senior notes to fund the acquisition of McGriff and for general corporate purposes, reflecting a strategic approach to managing capital structure.

The company repurchased 4.3 million shares for $900 million, demonstrating a commitment to returning capital to shareholders and confidence in future performance.

The company is subject to increasing scrutiny and changing laws and expectations from regulators, investors, clients and our colleagues with respect to our environmental, social and governance (ESG) practices and disclosure which may impose additional costs on us or expose us to new or additional risks.

The company identifies geopolitical and macroeconomic conditions, including major wars, global conflicts, slower GDP growth, and inflation, as factors that could adversely affect its operations and investments.

The company acknowledges that actions by regulatory authorities or changes in legislation and regulation in the jurisdictions in which it operates could have a material adverse effect on its business.

The company's significant non-U.S. operations expose it to exchange rate fluctuations and various risks that could impact its business.