MMC : Bullish and Bearish Analyst Opinions

Doyle states that "insurance rates have moved up quite a bit as you would expect." Marsh (MMC), Aon (AON), and Willis Towers Watson (WTW) are insurance *brokers*, not carriers. They earn commissions based on a percentage of the premiums written. When risk perception spikes and rates harden (go up), brokers earn higher revenue on the same volume of business without taking on the underwriting risk of the payouts (which falls on the carriers). Long Insurance Brokers. They benefit from the "poly crisis" volatility and inflation in premiums. If economic activity (transaction volume) collapses entirely due to the war, higher rates might not offset the loss of total deal flow.

Tannenbaum highlights that "We're beginning to see prosecutions in Germany, in the Netherlands, for companies, for people that flaunt the sanctions." He emphasizes that "economic policy... needs actual enforcement." As enforcement shifts from policy announcements to criminal prosecutions, multinational corporations face heightened compliance risks. This drives demand for high-level regulatory consulting, forensic accounting, and risk advisory services. Oliver Wyman (owned by Marsh & McLennan - MMC) and competitors (Accenture, FTI Consulting) benefit from this complex regulatory environment. LONG Global Consulting/Advisory firms specializing in risk and compliance. Deregulation trends in the US reducing the overall global compliance burden.