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Marsh & McLennan (MMC) Launches Unity to Support Grain Export
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Marsh & McLennan Companies, Inc. (MMC - Free Report) recently introduced a new initiative named Unity in partnership with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, state-owned Ukrgasbank, as well as DZ Bank. This collaborative effort aims to deliver cost-effective insurance solutions for the export of critical food supplies, including grains, from the country's Black Sea ports.
Insured by Lloyd's of London underwriters, Unity will offer hull and P&I war risk coverage, reaching a maximum of $50 million. The new facility will receive support facilitated by standby letters of credit from Ukreximbank and Ukrgasbank, confirmed by German lender DZ Bank. The facility, endorsed by the Ukraine Ministry of the Economy, is designed to provide war risk insurance to shipowners and charterers.
This initiative is expected to help maintain and secure the supply chains by ensuring the safe transport of Ukrainian grain amid the ongoing conflict. By mitigating risks and providing insurance coverage, Unity can contribute to the stability of global food security, especially for developing nations that rely on Ukraine’s grain exports.
Beyond immediate challenges related to the ongoing conflict, Unity can also play a crucial role in supporting Ukraine's future recovery and reconstruction efforts. The unique structure of Unity offers a distinct advantage by enabling underwriters to assess and price risks in a more affordable manner. It will also provide support to ongoing humanitarian efforts and ease supply chains.
The move can enhance Marsh & McLennan's global standing and expertise in risk management. This can strengthen the company’s position as a key player in addressing critical global challenges and fostering resilience in the face of complex geopolitical situations.
Price Performance
Shares of Marsh & McLennan have climbed 18.1% in the past year, the same as the industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Marsh & McLennan currently has a Zacks Rank #2 (Buy).
The consensus mark for Employers Holdings’ current year earnings indicates a 17.8% year-over-year increase. It beat earnings estimates in all the past four quarters, with an average surprise of 26.5%. Furthermore, the consensus estimate for EIG’s revenues in 2023 suggests 17.5% year-over-year growth.
The Zacks Consensus Estimate for Assurant’s current year earnings indicates a 27.5% year-over-year increase. It beat earnings estimates in each of the past four quarters, with an average surprise of 42.4%. Also, the consensus mark for AIZ’s revenues in 2023 suggests 5.1% year-over-year growth.
The Zacks Consensus Estimate for Brown & Brown’s current year earnings is pegged at $2.75 per share, which predicts 20.6% year-over-year growth. It has witnessed four upward estimate revisions against none in the opposite direction during the past month. It beat earnings estimates in each of the past four quarters, with an average surprise of 12.3%.
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Marsh & McLennan (MMC) Launches Unity to Support Grain Export
Marsh & McLennan Companies, Inc. (MMC - Free Report) recently introduced a new initiative named Unity in partnership with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, state-owned Ukrgasbank, as well as DZ Bank. This collaborative effort aims to deliver cost-effective insurance solutions for the export of critical food supplies, including grains, from the country's Black Sea ports.
Insured by Lloyd's of London underwriters, Unity will offer hull and P&I war risk coverage, reaching a maximum of $50 million. The new facility will receive support facilitated by standby letters of credit from Ukreximbank and Ukrgasbank, confirmed by German lender DZ Bank. The facility, endorsed by the Ukraine Ministry of the Economy, is designed to provide war risk insurance to shipowners and charterers.
This initiative is expected to help maintain and secure the supply chains by ensuring the safe transport of Ukrainian grain amid the ongoing conflict. By mitigating risks and providing insurance coverage, Unity can contribute to the stability of global food security, especially for developing nations that rely on Ukraine’s grain exports.
Beyond immediate challenges related to the ongoing conflict, Unity can also play a crucial role in supporting Ukraine's future recovery and reconstruction efforts. The unique structure of Unity offers a distinct advantage by enabling underwriters to assess and price risks in a more affordable manner. It will also provide support to ongoing humanitarian efforts and ease supply chains.
The move can enhance Marsh & McLennan's global standing and expertise in risk management. This can strengthen the company’s position as a key player in addressing critical global challenges and fostering resilience in the face of complex geopolitical situations.
Price Performance
Shares of Marsh & McLennan have climbed 18.1% in the past year, the same as the industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Marsh & McLennan currently has a Zacks Rank #2 (Buy).
Investors interested in the broader Finance space can consider some other top-ranked companies like Employers Holdings, Inc. (EIG - Free Report) , Assurant, Inc. (AIZ - Free Report) and Brown & Brown, Inc. (BRO - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The consensus mark for Employers Holdings’ current year earnings indicates a 17.8% year-over-year increase. It beat earnings estimates in all the past four quarters, with an average surprise of 26.5%. Furthermore, the consensus estimate for EIG’s revenues in 2023 suggests 17.5% year-over-year growth.
The Zacks Consensus Estimate for Assurant’s current year earnings indicates a 27.5% year-over-year increase. It beat earnings estimates in each of the past four quarters, with an average surprise of 42.4%. Also, the consensus mark for AIZ’s revenues in 2023 suggests 5.1% year-over-year growth.
The Zacks Consensus Estimate for Brown & Brown’s current year earnings is pegged at $2.75 per share, which predicts 20.6% year-over-year growth. It has witnessed four upward estimate revisions against none in the opposite direction during the past month. It beat earnings estimates in each of the past four quarters, with an average surprise of 12.3%.