85.94 +0.58 (0.68%)
After hours: 5:15PM EDT
|Bid||80.22 x 1200|
|Ask||86.25 x 1400|
|Day's Range||85.20 - 85.97|
|52 Week Range||78.60 - 87.89|
|PE Ratio (TTM)||26.73|
|Earnings Date||Oct 24, 2018 - Oct 29, 2018|
|Forward Dividend & Yield||1.66 (1.93%)|
|1y Target Est||91.86|
Mercer, a global consulting leader in advancing health, wealth and career, and a wholly owned subsidiary of Marsh & McLennan Companies (MMC), revealed today that 43% of M&A transactions worldwide experienced such serious culture issues that deals were delayed, terminated or purchase prices were negatively impacted.
Moody's Investors Service has affirmed the Baa1 senior unsecured debt and P-2 commercial paper ratings of Marsh & McLennan Companies, Inc. (MMC) following the company's announcement that it has agreed to purchase UK-based insurance broker Jardine Lloyd Thompson Group plc (JLT.L) for cash of $5.6 billion. The rating agency has changed MMC's rating outlook to negative from stable based on the expected increase in financial leverage and the execution risk associated with acquiring JLT.
LONDON—Marsh & McLennan Cos. has agreed to a 4.3 billion-pound ($5.66 billion) deal to buy U.K.-based Jardine Lloyd Thompson Group PLC, forming a global insurance broker with $17 billion in annual revenue. The deal will allow Marsh & McLennan to tap into Jardine Lloyd Thompson’s exposure to high-growth emerging markets and comes as the insurance industry experiences a wave of consolidation. Many global insurers are looking beyond their already well-insured home markets for growth, and Marsh & McLennan said the deal will strengthen its specialty risk-broking operations and expand its global reinsurance network, bolstering its position in key growth markets in Asia and Latin America.
Shares in JLT, which reorganised earlier this year into three divisions and has been preparing for a so-called hard British exit from the European Union in March, leapt by 32.3 percent, just shy of MMC's cash offer of 1,915 pence per share. The acquisition is the latest in a series of deals in the insurance sector, which is struggling with stagnating premiums as insurers compete ruthlessly to win market share. JLT Chief Executive Dominic Burke said the deal to create a company with annual revenue of $17 billion had been struck quickly and was first discussed formally on Sept. 7.
The autoparts retailer earned an adjusted $18.54 per share for its fiscal fourth quarter, beating the consensus estimate of $17.92 a share. Revenue missed forecasts, however, and a same-store sales increase of 2.2 percent was also slightly below estimates. General Mills GIS – The food company came in 7 cents a share above estimates , earning an adjusted 71 cents per share for its first quarter, though revenue missed forecasts.
Faced with this ailment, the insurance sector is reaching for a costly remedy — M&A. Marsh & McLennan Cos. Inc. Tuesday became the latest insurer to splash the cash, agreeing to pay 4.3 billion pounds ($5.6 billion) for U.K. broker Jardine Lloyd Thompson Group Plc. The target rightly wasted no time in accepting. JLT is a relative minnow in this global industry, dwarfed by the likes of Marsh, Aon Plc and Willis Towers Watson Plc. Scale and diversification are competitive advantages.
Marsh & McLennan Companies Inc has agreed to buy Jardine Lloyd Thompson for about 4.3 billion pounds ($5.7 billion) as the U.S. financial services group looks to boost its speciality risk broking and global reinsurance business. Shares of the UK insurance and reinsurance broker rose 32.3 percent to 1,894 pence, just below MMC's all-cash offer of 1,915 pence, which was set at a premium of about 33.7 percent to JLT stock's closing price on Monday. The deal consideration implies an enterprise value of about 4.9 billion pounds for JLT.
London-listed JLT shares at 0737 GMT were up 31% at 1,880 pence. New York-listed Marsh & McLennan said the deal will strengthen its specialty risk-broking operations and expand its global reinsurance network, enhancing its position in key growth markets in Asia and Latin America. Marsh & McLennan said it will accelerate JLT’s growth in employee-benefits provision and its U.S. expansion.
The deal will combine MMC, the world’s biggest insurance broker by revenue, with the number seven, according to a ranking from rating agency AM Best. JLT shareholders will receive £19.15 a share in cash, a 38 per cent premium on the average price of JLT’s shares over the past three months, according to data from S&P Global Market Intelligence. The deal has secured the backing of JLT’s board and of Jardine Matheson, the Hong Kong-based conglomerate that owns 40 per cent of the company’s shares.
Marsh & McLennan Companies, Inc. (MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, today announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group plc (JLT.L), a leading provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services. The transaction has been approved by the Board of Directors of each of MMC and JLT. Under the terms of the transaction, holders of JLT’s common shares will receive cash consideration of £19.15 pounds per share.
It only took 11 days for Dan Glaser to pull off the biggest deal in his company’s 147-year history. The chief executive officer of Marsh & McLennan Cos. said he agreed to pay $5.7 billion to buy insurance broker Jardine Lloyd Thompson Group Plc less than two weeks after sitting down to discuss the idea with JLT CEO Dominic Burke. For Glaser, who’s known Burke for more than a decade, the purchase is a bet on the world becoming more complicated.
Ring the Lutine Bell and inscribe another name in the leatherbound register at Lloyd’s of London. No wonder chief executive Dominic Burke admitted to feeling emotional. Shareholders should blink back happy tears too, and unlike JLT bosses they get no retention bonuses.
Mercer, a global consulting leader in advancing health, wealth and career, and a wholly owned subsidiary of Marsh & McLennan Companies , announced the reappointment of Taryn Branca, Paulette Welsing and Robyn Cameron to new leadership roles in its New York office.
Highlighting the many ways that health technology is transforming employer-sponsored health benefit programs, Mercer unveiled early results from its industry-leading survey at this year’s HR Technology Conference & Expo in Las Vegas. Based on the first 1,566 responses1 to the Mercer National Survey of Employer-Sponsored Health Plans, Mercer projects that health benefit cost per employee will rise by 4.1% on average in 2019. Mercer notes that the underlying medical plan cost trend has cooled from 6.5% to 5.3% heading into 2019 (the underlying trend is the estimated increase in medical plan cost if employers made no changes).
NEW YORK , Sept. 10, 2018 /PRNewswire/ -- Numerati ® Partners LLC , a technology curation and enablement firm announced its collaboration with leading global reinsurance specialist Guy Carpenter & Company ...
Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies (MMC), today announced the launch of GC Genesis, its expanded InsurTech advisory offering designed to meet clients’ desire to understand and leverage the dynamic universe of InsurTech. Designed to go beyond existing industry research, GC Genesis will employ a set of complementary services to allow its clients to navigate and ultimately use InsurTech to accelerate and de-risk their own strategic journey. The services are focused on the core business functions of insurance carriers: distribution, underwriting, pricing, claims, etc. With InsurTech continuing to expand and increasingly more capabilities for carriers to leverage, the new services provide a way forward for many of Guy Carpenter’s clients.
Mercer, a global consulting leader in advancing health, wealth and career, and a wholly owned subsidiary of Marsh & McLennan Companies (MMC), announced today that Mercer’s Pat Milligan, Global Leader, Multinational Client Group, will serve as the closing keynote speaker at the 2018 HR Technology Conference & Exposition, September 11-14 in Las Vegas. “I am very excited to lead this discussion with such an important and influential audience,” said Ms. Milligan.
Martine Ferland, currently President of Europe & Pacific and co-President of Health, has been appointed to the position of Group President, reporting to Mercer President and CEO Julio Portalatin effective immediately. Concurrently, David Anderson, currently President of Growth Markets will take on the new role of President, International.
Mercer, a global consulting leader in advancing health, wealth and career, and a wholly owned subsidiary of Marsh & McLennan Companies , announced the appointment of John Lapinski as Detroit Office Business Leader for Mercer’s Health business.
Pricing MMC, a financial stock, can be difficult since these insurance businesses have cash flows that are affected by regulations that are not imposed upon other sectors. For instance, insuranceRead More...
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