The company expanded its Risk and Insurance Services segment by completing three acquisitions. The total purchase consideration for these acquisitions was $62 million, indicating continued investment in strategic growth areas.

Underlying revenue growth in the Risk and Insurance Services segment was driven by both retention and new business growth at Marsh and Guy Carpenter. This indicates the company's ability to both retain existing clients and attract new ones.

The company continues to invest in strategic acquisitions as part of its growth strategy, as evidenced by the three acquisitions in the Risk and Insurance Services segment. This demonstrates a commitment to expanding its market presence and service offerings.

The company repurchased 1.3 million shares of its common stock for $300 million during the quarter, signaling management's confidence in the company's financial health and future prospects.

The company repaid $500 million of 3.50% senior notes at maturity, demonstrating its ability to manage its debt obligations and maintain a strong financial position.

Corporate expenses decreased $8 million, or 12%, to $64 million, primarily due to lower restructuring costs compared to the corresponding period in the prior year. This indicates that management is effectively managing costs and improving efficiency.

The company acknowledges that the macroeconomic and geopolitical environment, including major wars and global conflicts, could impact its business, financial condition, results of operations, and cash flows. This highlights the external risks that the company faces.

The company is subject to a significant number of claims, lawsuits, and proceedings in the course of its business. Adverse determinations in one or more of these matters could have a material impact on the company's consolidated results of operations, financial condition, or cash flows in a future period.

The company continues to monitor legislative developments, as well as additional guidance from countries that have enacted Pillar Two legislation, and will ensure it complies with any changes. Changes in tax laws, rulings, policies, or related legal and regulatory interpretations occur frequently and may have significant favorable or adverse impacts on our effective tax rate.

Underlying revenue growth in the Risk and Insurance Services segment was driven by both retention and new business growth at Marsh and Guy Carpenter. This indicates the company's ability to both retain existing clients and attract new ones.

Marsh's revenue increased $450 million, or 15%, to $3.5 billion for the three months ended March 31, 2025, compared to $3.0 billion for the three months ended March 31, 2024. This reflects an increase of 5% on an underlying basis and 12% from acquisitions, partially offset by a decrease of 2% from the impact of foreign currency translation.

Guy Carpenter's revenue increased $58 million, or 5%, to $1.2 billion for the three months ended March 31, 2025, compared to $1.1 billion for the three months ended March 31, 2024. This reflects an increase of 5% on an underlying basis and 1% from acquisitions, partially offset by a decrease of 1% from the impact of foreign currency translation.

Corporate expenses decreased $8 million, or 12%, to $64 million for the three months ended March 31, 2025, compared to $72 million for the three months ended March 31, 2024, primarily due to lower restructuring costs compared to the corresponding period in the prior year. This indicates that management is effectively managing costs and improving efficiency.

Corporate expenses decreased $8 million, or 12%, to $64 million, primarily due to lower restructuring costs compared to the corresponding period in the prior year. This indicates that management is effectively managing costs and improving efficiency.

The company incurred a total of $32 million for remaining restructuring activities for the three months ended March 31, 2025, primarily related to severance and lease exit charges. For the three months ended March 31, 2024, the Company incurred $42 million of restructuring costs.

The Company's additions to fixed assets and capitalized software, which amounted to $55 million for the three months ended March 31, 2025, and $87 million for the three months ended March 31, 2024, related primarily to software development costs, the refurbishing and modernizing of office facilities, and technology equipment purchases.

Marsh provides data-driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities.

Mercer delivers advice and technology-driven solutions that help organizations redefine the world of work, reshape retirement and investment outcomes, and unlock health and well-being for a changing workforce.

The company repurchased 1.3 million shares of its common stock for $300 million during the quarter, signaling management's confidence in the company's financial health and future prospects.

The company repaid $500 million of 3.50% senior notes at maturity, demonstrating its ability to manage its debt obligations and maintain a strong financial position.

The company continues to invest in strategic acquisitions as part of its growth strategy, as evidenced by the three acquisitions in the Risk and Insurance Services segment. This demonstrates a commitment to expanding its market presence and service offerings.

The company continues to monitor legislative developments, as well as additional guidance from countries that have enacted Pillar Two legislation, and will ensure it complies with any changes. Changes in tax laws, rulings, policies, or related legal and regulatory interpretations occur frequently and may have significant favorable or adverse impacts on our effective tax rate.

Outside the U.S., the Company has a large number of non-U.S. defined benefit pension plans, the largest of which are in the U.K., which comprise approximately 78% of non-U.S. plan assets at December 31, 2024.

Oliver Wyman Group serves as a critical strategic, economic and brand advisor to private sector and governmental clients. The four businesses also collaborate together to deliver new solutions to help clients manage complex and interconnected risks.

The company acknowledges that the macroeconomic and geopolitical environment, including major wars and global conflicts, could impact its business, financial condition, results of operations, and cash flows. This highlights the external risks that the company faces.

The company advises clients in 130 countries. As a result, foreign exchange rate movements may impact period over period comparisons of revenue. Similarly, certain other items such as acquisitions and dispositions, including transfers among businesses, may impact period over period comparisons of revenue.

The company continues to monitor legislative developments, as well as additional guidance from countries that have enacted Pillar Two legislation, and will ensure it complies with any changes. Changes in tax laws, rulings, policies, or related legal and regulatory interpretations occur frequently and may have significant favorable or adverse impacts on our effective tax rate.