From Q1 2022 to Q2 2024, Marsh's Risk & Insurance segment outgrew Aon Commercial Risk Solutions

Segment-level organic growth reported by select brokers since Q3 2021

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NB: the different ways in which Aon and Marsh McLennan report fiduciary income exaggerates the size of the negative growth delta in 2022 and 2023

Source: Company documents, Insurance Insider US Research