Marsh Insurance Group was Marsh & Mclennan Companies’s largest segment in fiscal 2025, bringing in $14.63B of $26.98B (54%).
| Subsegments | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Marsh Insurance Group | $10.59B | $11.66B | $12.85B | $14.63B | |||||||||||
| Marsh | — | — | — | — | |||||||||||
| Mercer Consulting Group | $5.35B | $5.59B | $5.74B | $6.19B | |||||||||||
| Mercer | — | — | — | — | |||||||||||
| Marsh Management Consulting | — | $3.12B | $3.39B | $3.60B | |||||||||||
| Oliver Wyman Group | $2.79B | — | — | — | |||||||||||
| Oliver Wyman Group Consulting Group | — | — | — | — | |||||||||||
| Guy Carpenter Reinsurance Group | $2.06B | $2.43B | $2.54B | $2.64B | |||||||||||
| Guy Carpenter | — | — | — | — | |||||||||||
| Corporate, Non-Segment | — | — | — | — | |||||||||||
| Intersegment Eliminations | — | — | — | — | |||||||||||
| Corporate/Eliminations | -$64.00M | -$62.00M | -$70.00M | -$78.00M | |||||||||||
| Corporate & Elimination | — | — | — | — | |||||||||||
| Total | $20.72B | $22.74B | $24.46B | $26.98B |
Marsh & Mclennan Companies brought in $26.98B from its five segments in fiscal 2025, the year ended December 31, 2025. That was up 10.3% from $24.46B in fiscal 2024. Marsh Insurance Group was the largest at $14.63B (54.2%), ahead of Mercer Consulting Group at $6.19B (22.9%) and Marsh Management Consulting at $3.60B (13.4%). The remaining segment, Guy Carpenter Reinsurance Group, brought in $2.64B.
Compared with fiscal 2024, Marsh Insurance Group grew fastest, up 13.8% to $14.63B. Every segment above 2% of revenue grew.
Marsh & Mclennan Companies began breaking out Marsh Management Consulting in fiscal 2023, when it brought in $3.12B. Marsh & Mclennan Companies stopped reporting Oliver Wyman Group as a separate segment after fiscal 2022, when it brought in $2.79B. The total is net of Corporate/Eliminations, which took $78.00M off revenue in fiscal 2025.
Risk & Insurance Services was Marsh & Mclennan Companies’s largest segment in fiscal 2025, bringing in $17.27B of $26.98B (64%).
| Segment | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Risk & Insurance Services | $12.65B | $14.09B | $15.40B | $17.27B | |||||||||||||
| Consulting | $8.14B | $8.71B | $9.13B | $9.79B | |||||||||||||
| Marsh | — | — | — | — | |||||||||||||
| Mercer | — | — | — | — | |||||||||||||
| Oliver Wyman Group | — | — | — | — | |||||||||||||
| Guy Carpenter | — | — | — | — | |||||||||||||
| Corporate, Non-Segment | — | — | — | — | |||||||||||||
| Intersegment Eliminations | — | — | — | — | |||||||||||||
| Corporate / Eliminations | — | — | — | — | |||||||||||||
| Corporate/Eliminations | -$64.00M | -$62.00M | -$70.00M | -$78.00M | |||||||||||||
| Corporate & Elimination | — | — | — | — | |||||||||||||
| Total | $20.72B | $22.74B | $24.46B | $26.98B |
Marsh & Mclennan Companies brought in $26.98B from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 10.3% from $24.46B in fiscal 2024. Risk & Insurance Services was the largest at $17.27B (64.0%), ahead of Consulting at $9.79B (36.3%).
Compared with fiscal 2024, Risk & Insurance Services grew 12.1% to $17.27B and Consulting grew 7.2% to $9.79B. From fiscal 2022 to 2025, combined revenue from these segments grew from $20.72B to $26.98B, a compound annual growth rate of 9.2%. Risk & Insurance Services' share of the total rose from 61.0% to 64.0%.
The total is net of Corporate/Eliminations, which took $78.00M off revenue in fiscal 2025.
United States was Marsh & Mclennan Companies’s largest region in fiscal 2025, bringing in $13.34B of $27.06B (49%).
| Geography | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $10.22B | $10.92B | $11.67B | $13.34B | ||||||||||
| United States (A) | — | — | — | — | ||||||||||
| Other | $7.46B | $8.32B | $9.26B | $9.90B | ||||||||||
| Other (C) | — | — | — | — | ||||||||||
| Other Geographic Areas | — | — | — | — | ||||||||||
| United Kingdom | $3.11B | $3.56B | $3.60B | $3.82B | ||||||||||
| United Kingdom (B) | — | — | — | — | ||||||||||
| Europe | — | — | — | — | ||||||||||
| Continental Europe | — | — | — | — | ||||||||||
| Asia Pacific | — | — | — | — | ||||||||||
| Total | $20.78B | $22.80B | $24.53B | $27.06B |
Marsh & Mclennan Companies brought in $27.06B from its three regions in fiscal 2025, the year ended December 31, 2025. That was up 10.3% from $24.53B in fiscal 2024. United States was the largest at $13.34B (49.3%), ahead of Other at $9.90B (36.6%) and United Kingdom at $3.82B (14.1%).
Compared with fiscal 2024, United States grew fastest, up 14.3% to $13.34B. Every region above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these regions grew from $20.78B to $27.06B, a compound annual growth rate of 9.2%. United States' share held steady at about 49.3%.
Marsh & Mclennan Companies (MRSH) reports its revenue by subsegments, by segment and by geography. In fiscal 2025, Marsh Insurance Group was its largest segment, bringing in $14.63B (54.2% of the total), followed by Mercer Consulting Group at $6.19B (22.9%).
Marsh Insurance Group was Marsh & Mclennan Companies' largest segment in fiscal 2025, bringing in $14.63B, or 54.2% of the $26.98B total across its five segments.
United States was Marsh & Mclennan Companies' largest region in fiscal 2025, bringing in $13.34B, or 49.3% of the $27.06B total across its three regions.
Among Marsh & Mclennan Companies' segments that make up at least 2% of revenue, Marsh Insurance Group grew fastest in fiscal 2025, up 13.8% from $12.85B to $14.63B.
Every figure comes from Marsh & Mclennan Companies' annual financial filings, as reported. Each line keeps the name Marsh & Mclennan Companies gives it, and years follow its fiscal calendar.
Marsh & Mclennan Companies' revenue by subsegments goes back to fiscal 2011, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.