Marsh & McLennan Companies Reports Fourth Quarter And Full-Year 2014 Results

Excellent Underlying Revenue Growth

Growth in GAAP and Adjusted Operating Income Produces Strong Margin Expansion

Full-Year GAAP EPS Increases to $2.65; Adjusted EPS Rises 14% to $2.82

NEW YORK--(BUSINESS WIRE)--Feb. 6, 2015-- Marsh & McLennan Companies, Inc. (NYSE:MMC), a global professional services firm offering clients advice and solutions in risk, strategy, and people, today reported financial results for the fourth quarter and year ended December 31, 2014.

Dan Glaser, President and CEO said: "Marsh & McLennan Companies generated strong results in the fourth quarter of 2014. On a consolidated basis, the Company produced underlying revenue growth of 6%, with the adjusted operating margin increasing 70 basis points and 16% growth in adjusted EPS to $.66.

"For the year, Marsh & McLennan Companies' results were excellent. On a consolidated basis, adjusted operating income grew 10%, our seventh consecutive year of double-digit growth, while the adjusted margin increased 70 basis points to 18.1%. Marsh produced another year of outstanding performance, with substantial underlying revenue growth across all major geographies and record new business development. Guy Carpenter's results for the year were solid, with underlying revenue growth of 2%, despite significant industry-wide headwinds. Mercer's strong performance included 3% underlying revenue growth, driving the Consulting segment's record profitability of nearly $1 billion, and impressive margin improvement. Oliver Wyman's underlying revenue growth of 15% reflected double-digit increases in each quarter this year.

"We're proud to have delivered another year of excellent results, with strong revenue and EPS growth and the return of capital to shareholders through double-digit growth in dividends and increased share repurchases," concluded Mr. Glaser.