Marsh & McLennan (MMC) Q1 2020 Earnings Call Transcript

Marsh & McLennan (MMC) Q1 2020 Earnings Call Transcript

I'm Dan Glaser, president and CEO of Marsh & McLennan.. I am pleased to report that our first-quarter results were excellent, despite seeing early signs of COVID-19-related headwinds.. MMC businesses are working at multiple levels to get the global economy working again.. Marsh & McLennan has never been flatter, faster or more connected than we are today, and I expect some of how we are adapting through this period will benefit us over the longer term.. It also speaks to our confidence in the strength of our business, which will rebound as the global economy improves.. We are taking prudent and necessary actions to manage expenses, but at the same time, we are still focused on positioning for the long term.. In health and benefits, Mercer Marsh Benefits created a COVID-19 product, which is now supporting over 500,000 employees in Italy.. In summary, I am proud of how our company is responding to this crisis.. Overall, the global P&C insurance market is complex.. We delivered excellent results in the quarter, with underlying revenue growth across both risk and insurance services and consulting.. Adjusted earnings per share increased 8% versus a year ago to $1.64, reflecting strong underlying growth and margin