McGriff Insurance Services
2024
$7.8B
Why
Acquisition of premier US retail insurance broker from TIH, adding $1.3B in revenue and 300 offices.
Outcome
Substantially expands mid-market commercial P&C and employee benefits.
Marsh McLennan
Insurance Broking & Risk Management ConsultingFounded 1871- HQ today: New York City, New York, United States
Reviewed by Swet Parvadiya
Company data updated: November 2026
Acquisitions
Marsh McLennan Acquisitions
3
Major Deals Covered
$13.3B
Disclosed Deal Value
What are Marsh McLennan's biggest acquisitions?
Marsh McLennan's largest disclosed acquisition here is McGriff Insurance Services for $7.75 in 2024. This page covers 3 major deals from 2003 to 2024, each with its price where disclosed and the reason behind it.
- Major deals covered
- 3
- Largest deal
- McGriff Insurance Services ($7.75)
- First deal
- 2003
- Most recent
- 2024
| Company | Year | Price | Purpose |
|---|---|---|---|
| McGriff Insurance Services | 2024 | Undisclosed | — |
| Jardine Lloyd Thompson Group plc (JLT) | 2019 | Undisclosed | — |
| Oliver, Wyman & Company | 2003 | Undisclosed | — |
- What companies has Marsh McLennan bought?
- Major acquisitions by Marsh McLennan documented here include McGriff Insurance Services (2024), Jardine Lloyd Thompson Group plc (JLT) (2019) and Oliver, Wyman & Company (2003).
- What is Marsh McLennan's most recent acquisition?
- The most recent Marsh McLennan acquisition documented here is McGriff Insurance Services, in 2024, for $7.75.
Jardine Lloyd Thompson Group plc (JLT)
2019
$5.6B
Why
Acquisition of major UK insurance and reinsurance specialist broker based in London.
Outcome
Consolidated Marsh McLennan's global market leadership and added £1.4B in annual revenue.
Oliver, Wyman & Company
2003
Why
Merged with Mercer's strategy division to form management consultancy Oliver Wyman.
Outcome
Grew into a top-tier global management consultancy with over $3.0B in annual fees.
Marsh McLennan's Growth & Acquisition Strategy
Marsh McLennan is pursuing a disciplined three-part strategic growth agenda: (1) Expanding mid-market commercial brokerage in the United States through its $7.75 billion acquisition of McGriff Insurance Services, adding 300 regional offices and $1.3 billion in revenue; (2) Capitalizing on surging corporate demand for complex cyber risk advisory, climate transition finance modeling, and geopolitical supply-chain restructuring; and (3) Scaling Mercer's Delegated Investment Solutions (OCIO - Outsourced Chief Investment Officer), managing over $400 billion in institutional pension and endowment assets to earn recurring basis-point management fees.
How Marsh McLennan Makes Money
Marsh McLennan operates a remarkably profitable, cash-generative business model divided into two principal operating segments: (1) Risk and Insurance Services (generating ~62% of group revenue through Marsh and Guy Carpenter) and (2) Consulting (generating ~38% through Mercer and Oliver Wyman). Marsh collects recurring fees and commissions on commercial property, casualty, cyber, and marine insurance policies placed with global underwriters on behalf of corporations. Guy Carpenter earns brokerage commissions on treaty and facultative reinsurance contracts placed between primary insurers and global reinsurers, powered by proprietary catastrophe modeling. Mercer generates recurring advisory fees, retainer billings, and delegated investment management fees on hundreds of billions in corporate retirement assets. Oliver Wyman earns premium consulting fees advising C-suite executives on banking regulation, aviation restructuring, digital transformation, and geopolitical supply chain strategy. Crucially, Marsh McLennan incurs zero underwriting risk—it collects fees whether insurers make money or lose money.
Marsh McLennan Acquisitions FAQ
How much did Marsh McLennan pay for McGriff Insurance Services?
Marsh McLennan agreed to acquire McGriff Insurance Services for $7.75 billion in cash in September 2024, expanding its presence among US mid-market businesses.
Why did Marsh McLennan acquire JLT in 2019?
The $5.6 billion acquisition of British broker JLT added specialized capabilities in aerospace, energy, and construction, while expanding presence across the UK and Asia.
How was Mercer acquired by Marsh McLennan?
Marsh McLennan acquired Canadian pension and actuarial consultancy William M. Mercer in 1959, expanding it into the world's largest human resources consultancy.
What was the significance of the $5.6 billion JLT acquisition in 2019?
The acquisition of UK-based Jardine Lloyd Thompson (JLT) in 2019 consolidated Marsh McLennan's global lead, adding £1.4 billion in revenue and premier specialty broking in aerospace, energy, and construction.
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