1、A business of Marsh McLennanwelcome to brighter20241023Towards a brighter future:Driving change with transformative rewards2024-20251.2.3.49.80%50.00%47%48%49%50%51%52%53%54%202391011122024123456789PMIPMI4552.6%2024,2.6%3.7202427.2514.3%7.655.9%201910.2%50008770.20.54501567.8%7.3%6.9%6.7%6.9%6.7%6.1

2、%2.2%8.4%3.0%5.2%5.0%4.5%2.6%2.0%1.4%2.1%1.6%2.1%2.9%2.5%0.9%1.9%0.2%1.0%2.0%8.1%7.4%6.7%5.8%5.7%5.6%5.5%5.1%5.2%5.3%4.9%4.3%4.4%14.9%15.5%14.9%13.8%14.8%14.4%12.1%11.5%13.5%10.9%9.2%0%2%4%6%8%10%12%14%16%18%201320142015201620172018201920202021202220232024()2025()2024 H13.9%7119%197%153%116%35%66%10

3、9%119%138%91%94%83%63%86%0%50%100%150%200%250%2023%2026-2028%2023%2026-2028%+0.2x+7.2x+1.9x+2.7x+6.7x+0.2x+2.0 x2020-2023x82024TRS4,000+383,000,000+/&/25,000+105.0%5.1%4.1%5.0%4.3%4.5%3.4%6.9%5.7%8.4%5.6%2.1%5.4%2.0%2.4%2.8%1.9%2.6%2.5%1.8%1.7%3.5%3.1%5.7%3.1%0.7%3.1%1.5%0.0%3.0%6.0%9.0%12.0%20228.9

4、%9.3%7.3%10.0%9.2%9.4%5.7%12.2%8.2%12.9%9.5%3.8%13.7%8.2%3.6%3.6%2.7%4.2%4.1%3.3%2.3%5.2%3.9%6.7%3.8%1.4%6.9%4.0%0.0%3.0%6.0%9.0%12.0%202220232024 H1114.3%4.4%4.4%4.5%4.4%4.6%4.2%4.4%4.2%4.4%4.2%4.3%4.4%4.6%4.5%4.6%5.2%4.8%4.7%4.8%4.7%4.8%4.8%4.4%4.4%4.4%4.2%4.2%2.5%3.5%4.5%5.5%6.5%1220244.3%P50-P75

5、P25-P50202420250202420244.3%4.4%4.4%4.2%4.2%4.2%4.4%4.5%5.2%4.7%4.7%4.8%4.4%4.2%20245.3%5.4%5.0%5.1%4.8%5.4%5.1%5.1%5.9%6.1%5.5%5.1%5.1%5.2%2.5%3.5%4.5%5.5%6.5%134.3%5.4%0141,1792000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024-2021202220232024+24 2

6、024+15P302022-20242022-20232023-2024+&+2D/3D+IT+/+Dave Ulrich1634%26%18%/16%/46%43%40%38%36%31%25%21%AI36AI2024/ROI98%2024202418192020-2023051015202530 100,000 150,000 200,000 250,000 300,000 350,00020202021202220202021202220202021202220202