Every material Form 8-K Marsh McLennan filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Marsh & McLennan agreed on October 20, 2026 to sell €600 million of 4.250% senior notes due 2032 and €600 million of 4.625% senior notes due 2036 through underwriters, and the notes were issued on October 27, 2026. The filing is a debt financing that adds €1.2 billion of notes to the company's borrowings and does not report any change in earnings or guidance.
€600 million of 4.250% Senior Notes due 2032 and €600 million of 4.625% Senior Notes due 2036 were sold under an October 20, 2026 underwriting agreement
Notes were issued October 27, 2026 under a 2011 indenture with The Bank of New York Mellon as trustee, supplemented by a Twenty-Second Supplemental Indenture
Notes were registered under a Form S-3 shelf filed July 24, 2024
Marsh reported third quarter 2026 results on October 15, 2026. Revenue rose 8% to $6.9 billion, or 5% on an underlying basis, and GAAP diluted EPS was $1.69 versus $1.51 a year earlier. Adjusted EPS rose 10% to $2.03, while nine-month GAAP diluted EPS fell to $6.68 from $6.75.
Q3 2026 revenue was $6.9 billion, up 8% from $6.4 billion, or 5% on an underlying basis.
Q3 GAAP diluted EPS was $1.69 versus $1.51; adjusted EPS rose 10% to $2.03.
Nine-month GAAP diluted EPS was $6.68 versus $6.75; nine-month adjusted EPS rose 9% to $8.29.
In Q3 the company repurchased 2.7 million shares for $500 million.
Marsh reported second quarter 2026 revenue of $7.4 billion, up 6% from a year earlier, with GAAP diluted EPS of $2.63 against $2.45 and adjusted EPS up 9% to $2.96. For the first six months, GAAP EPS fell to $4.99 from $5.23, a period that includes a $425 million Greensill litigation charge, while the Board raised the quarterly dividend 10% to $0.990 per share.
Q2 2026 revenue $7.4 billion, up 6% (5% underlying); operating income up 4% to $1.9 billion
Q2 GAAP diluted EPS $2.63 vs $2.45; adjusted EPS up 9% to $2.96
Six-month GAAP diluted EPS $4.99 vs $5.23, including a $425 million Greensill litigation charge
Board raised quarterly dividend 10% to $0.990 per share on July 8; repurchased $750 million of stock in Q2
On June 2, 2026, Marsh & McLennan entered into a new multi-currency unsecured $4.25 billion five-year revolving credit facility, expiring in June 2031, and terminated its existing $3.5 billion facility on the same day. The filing describes the new facility as larger than the one it replaces, with interest based on Term SOFR plus a margin tied to the company's credit ratings and quarterly coverage and leverage ratio requirements.
New facility: multi-currency, unsecured, $4.25 billion, five-year revolving credit, expiring June 2031
Interest rate: Term SOFR plus a fixed margin that varies with the company's credit ratings
Covenants: certain coverage and leverage ratios tested quarterly; Citibank, N.A. is administrative agent
Marsh reported first quarter 2026 results on April 16, 2026. Revenue rose 8% to $7.6 billion (4% on an underlying basis), but GAAP operating income fell 12% to $1.8 billion after a $425 million Greensill litigation charge, and GAAP diluted EPS was $2.36 versus $2.79 a year earlier. Adjusted EPS rose 8% to $3.29, so shareholders face a mixed picture driven largely by that one charge.
Revenue of $7.6 billion, up 8% from $7.1 billion a year earlier; underlying growth was 4%.
GAAP diluted EPS of $2.36 versus $2.79; net income attributable to the Company was $1.1 billion versus $1.4 billion.
Operating income included a $425 million charge related to the Greensill litigation; adjusted EPS rose 8% to $3.29.
The Company repurchased about 4.2 million shares for $750 million in the quarter.
Marsh & McLennan said Mark McGivney, its Chief Financial Officer, will also become Executive Vice President and Chief Operating Officer, effective April 15, 2026. He will lead the company's inorganic strategies and support CEO John Doyle, while the Marsh Executive Committee continues to report to Doyle.
Base salary of $1,250,000 effective April 15, 2026
Target annual bonus of $3,450,000 starting with the 2026 performance year, awarded in February 2027
Target long-term incentive award of $6,300,000 starting with the 2027 award, plus a $10 million stock unit grant on May 1, 2026 vesting in three equal annual installments beginning May 15, 2027
Marsh & McLennan announced that Nick Studer, currently CEO of Oliver Wyman and Marsh Management Consulting, will succeed Martin South as President and CEO of Marsh Risk, effective April 1, 2026. South will become Senior Vice President and Chief Client Officer of the company, with both reporting to CEO John Doyle. The filing also sets out South's new target bonus of $1,500,000 and long-term incentive target of $1,750,000, plus severance protection, which matter to shareholders as compensation costs for a senior executive.
Nick Studer succeeds Martin South as President and CEO of Marsh Risk, effective April 1, 2026
Martin South becomes Senior Vice President and Chief Client Officer of the company, effective April 1, 2026
South's new target annual bonus is $1,500,000 from the 2026 performance year; long-term incentive target is $1,750,000 from the 2027 award
Marsh expects to announce a new CEO of Oliver Wyman and Marsh Management Consulting by April 1
Marsh & McLennan Companies appointed Peter Harrison, age 59, as an independent director effective February 25, 2026, bringing the Board to 13 directors. The filing says his committee assignments have not yet been determined and will be disclosed in the 2026 proxy statement, and it does not describe any financial impact.
Peter Harrison appointed as an independent director effective February 25, 2026
Board now consists of 13 directors, per the company's press release
Committee assignments not yet determined; expected in the 2026 definitive proxy statement
Compensation as a non-management director follows the arrangements described in a prior 10-Q exhibit
Marsh (NYSE: MRSH) reported fourth-quarter and full-year 2025 results on January 29, 2026. Revenue grew on both a GAAP and underlying basis, and both GAAP and adjusted earnings per share rose for the year, which is the key measure for shareholders. The filing contains no revised financial guidance.
Q4 2025 revenue was $6.6 billion, up 9% (4% underlying), with GAAP EPS of $1.68 versus $1.59 a year earlier
Q4 adjusted EPS rose 10% to $2.12, including a 7-cent benefit from favorable discrete tax items
Full-year 2025 revenue was $27.0 billion, up 10% (4% underlying), with GAAP EPS of $8.43 versus $8.18 and adjusted EPS up 9% to $9.75
The company repurchased 10.1 million shares for $2.0 billion in 2025
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
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