Segment Information

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company is organized based on the types of services provided. Under this organizational structure, the Company’s business segments are:

▪ Risk and Insurance Services, comprising insurance services (Marsh) and reinsurance services (Guy Carpenter); and

▪ Consulting, comprising Mercer and Oliver Wyman Group

The accounting policies of the segments are the same as those used for the consolidated financial statements described in Note 1 to the Company’s 2013 Form 10-K. Segment performance is evaluated based on segment operating income, which includes directly related expenses, and charges or credits related to integration and restructuring but not the Company’s corporate-level expenses. Revenues are attributed to geographic areas on the basis of where the services are performed.

Selected information about the Company’s operating segments for the three-month periods ended March 31, 2014 and 2013 are as follows:

	Three Months Ended March 31,
(In millions of dollars)	Revenue				Operating Income (Loss)
2014 –
Risk and Insurance Services	$	1,839		(a)	$	493
Consulting	1,432			(b)	225
Total Operating Segments	3,271				718
Corporate / Eliminations	(7		)		(45		)
Total Consolidated	$	3,264			$	673
2013–
Risk and Insurance Services	$	1,771		(a)	$	468
Consulting	1,362			(b)	187
Total Operating Segments	3,133				655
Corporate / Eliminations	(7		)		(48		)
Total Consolidated	$	3,126			$	607

^(a)  Includes interest income on fiduciary funds of $6 million and $8 million in 2014 and 2013, respectively, and equity method income of $1 million in 2013, respectively.

^(b)  Includes inter-segment revenue of $7 million in both 2014 and 2013 and interest income on fiduciary funds of $1 million in both 2014 and 2013.

Details of operating segment revenue for the three-month periods ended March 31, 2014 and 2013 are as follows:

	Three Months Ended March 31,
(In millions of dollars)	2014			2013
Risk and Insurance Services
Marsh	$	1,457		$	1,395
Guy Carpenter	382			376
Total Risk and Insurance Services	1,839			1,771
Consulting
Mercer	1,061			1,041
Oliver Wyman Group	371			321
Total Consulting	1,432			1,362
Total Operating Segments	3,271			3,133
Corporate/ Eliminations	(7		)	(7		)
Total	$	3,264		$	3,126