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Largest insurance broker — Marsh + Guy Carpenter + Mercer + Oliver Wyman; ~$24B 2024 revenue; fee-based, not balance-sheet risk.
Quarterly breakdown of revenue into costs and profit
Q2 2016 — Q1 2026
How revenue flows through costs to become profit
Assets = Liabilities + Equity
Q2 2016 — Q1 2026
Cash position and cash generation
Q2 2016 — Q1 2026