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Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Weighted Average Actuarial Assumptions Utilized Defined Benefit Plans
The weighted average actuarial assumptions utilized for the U.S. and significant non-U.S. defined benefit plans and post-retirement benefit plans are as follows:
Pension 
Benefits		Post-retirement
Benefits
 2024202320242023
Weighted average assumptions:
Discount rate (for expense)4.95 %5.16 %5.26 %4.92 %
Expected return on plan assets5.44 %5.31 %— — 
Rate of compensation increase (for expense) *3.16 %3.16 %— — 
Discount rate (for benefit obligation)5.36 %4.95 %5.07 %5.26 %
Rate of compensation increase (for benefit obligation) *3.22 %3.16 %— — 
(*) There are no rate of compensation increase assumptions included for the primary U.S. defined benefit plans since all future benefit accruals were discontinued for those plans after December 31, 2016 and earned benefits are not subject to final salary level adjustments.
The weighted average actuarial assumptions utilized in determining expense during the year and benefit obligation at the end of the year for the U.S. defined benefit and other U.S. post-retirement plans are as follows:
U.S. Pension
Benefits		U.S. Post-retirement
Benefits
2024202320242023
Weighted average assumptions:
Discount rate (for expense)5.52 %5.53 %5.34 %5.31 %
Expected return on plan assets6.49 %6.49 %— — 
Discount rate (for benefit obligation)5.76 %5.52 %5.52 %5.34 %
Non-U.S. Pension
Benefits		Non-U.S.
Post-retirement Benefits
2024202320242023
Weighted average assumptions:
Discount rate (for expense)4.59 %4.89 %5.22 %4.73 %
Expected return on plan assets4.96 %4.74 %— — 
Rate of compensation increase (for expense)3.16 %3.16 %— — 
Discount rate (for benefit obligation)5.09 %4.59 %4.90 %5.22 %
Rate of compensation increase (for benefit obligation)3.22 %3.16 %— — 
Schedule of Components of Net Periodic Benefit Cost for U.S. Defined Benefit and Other Postretirement Benefit Plans The components of the net benefit (credit) or cost for the years 2024, 2023 and 2022 are as follows:
Combined U.S. and significant non-U.S. PlansPensionPost-retirement
For the Years Ended December 31,BenefitsBenefits
(In millions)202420232022202420232022
Service cost$23 $23 $28 $— $— $— 
Interest cost579 599 389 3 3 3 
Expected return on plan assets(876)(860)(778)— — — 
Amortization of prior service1 — 1 (2)(2)(2)
Recognized actuarial loss (gain)31 22 149 (6)(3)1 
Net periodic benefit (credit) cost(242)(216)(211)(5)(2)2 
Settlement loss2 2 2 — — — 
Net benefit (credit) cost$(240)$(214)$(209)$(5)$(2)$2 
The following table provides the amounts reported in the consolidated statements of income:
Combined U.S. and significant non-U.S. PlansPension
Benefits		Post-retirement
Benefits
For the Years Ended December 31,
(In millions)202420232022202420232022
Compensation and benefits expense $23 $23 $28 $— $— $— 
Other net benefit (credit) cost(263)(237)(237)(5)(2)2 
Net benefit (credit) cost$(240)$(214)$(209)$(5)$(2)$2 
The components of the net benefit (credit) cost for the U.S. defined benefit and other post-retirement benefit plans are as follows:
U.S. Plans onlyPension
Benefits		Post-retirement
Benefits
For the Years Ended December 31,
(In millions)202420232022202420232022
Interest cost$250 $260 $193 $1 $1 $1 
Expected return on plan assets(303)(311)(336)— — — 
Recognized actuarial loss (gain)21 19 74 (1)(2)— 
Net benefit (credit) cost$(32)$(32)$(69)$— $(1)$1 
The components of the net benefit (credit) or cost for the non-U.S. defined benefit and other post-retirement benefit plans and the curtailment, settlement and termination expenses are as follows:
For the Years Ended December 31,Non-U.S. Pension
Benefits		Non-U.S.
Post-retirement Benefits
(In millions)202420232022202420232022
Service cost$23 $23 $28 $— $— $— 
Interest cost329 339 196 2 2 2 
Expected return on plan assets(573)(549)(442)— — — 
Amortization of prior service credit1 — 1 (2)(2)(2)
Recognized actuarial loss10 3 75 (5)(1)1 
Net periodic benefit (credit) cost(210)(184)(142)(5)(1)1 
Settlement loss2 2 2 — — — 
Net benefit (credit) cost$(208)$(182)$(140)$(5)$(1)$1 
Schedule of MMC's Defined Benefit Plans and Postretirement Plans
The following tables provide information concerning the Company’s U.S. defined benefit pension and post-retirement benefit plans:
U.S. Pension
Benefits		U.S. Post-retirement
Benefits
(In millions)2024202320242023
Change in benefit obligation:
Benefit obligation at beginning of year$4,690 $4,876 $20 $22 
Interest cost250 260 1 1 
Employee contributions— — 3 3 
Plan combinations (a)62 — — — 
Actuarial (gain) loss(107)(20)2 2 
Benefits paid(301)(426)(9)(8)
Benefit obligation, December 31$4,594 $4,690 $17 $20 
Change in plan assets:
Fair value of plan assets at beginning of year$4,234 $4,276 $2 $2 
Actual return on plan assets95 351 — — 
Employer contributions34 33 5 5 
Employee contributions— — 4 3 
Benefits paid(301)(426)(9)(8)
Fair value of plan assets, December 31$4,062 $4,234 $2 $2 
Net funded status, December 31$(532)$(456)$(15)$(18)
Amounts recognized in the consolidated balance sheets:
Current liabilities$(37)$(31)$(1)$(1)
Non-current liabilities(495)(425)(14)(17)
Net liability recognized, December 31$(532)$(456)$(15)$(18)
Amounts recognized in other comprehensive income (loss):
Prior service (cost)$(1)$(1)$— $— 
Net actuarial (loss) gain(1,427)(1,347)2 4 
Total recognized accumulated other comprehensive (loss) income, December 31$(1,428)$(1,348)$2 $4 
Cumulative employer contributions in excess of (less than) net benefit (credit) cost896 892 (17)(22)
Net amount recognized in consolidated balance sheets$(532)$(456)$(15)$(18)
Accumulated benefit obligation, December 31$4,577 $4,690 $— $— 
(a)Includes plans from the acquisition of McGriff in 2024.
The following tables provide information concerning the Company’s non-U.S. defined benefit pension and post-retirement benefit plans:
Non-U.S. Pension
Benefits		Non-U.S.
Post-retirement Benefits
(In millions)2024202320242023
Change in benefit obligation:
Benefit obligation at beginning of year$7,521 $6,886 $40 $48 
Service cost23 23 — — 
Interest cost329 339 2 2 
Employee contributions3 3 — — 
Actuarial loss (gain)(423)226 9 (10)
Plan amendments(2)— — — 
Effect of settlement(16)(15)— — 
Benefits paid(365)(352)(3)(2)
Foreign currency changes(236)411 (2)2 
Benefit obligation, December 31$6,834 $7,521 $46 $40 
Change in plan assets:
Fair value of plan assets at beginning of year$9,308 $8,764 $— $— 
Actual return on plan assets(259)358 — — 
Effect of settlement(16)(15)— — 
Company contributions59 78 3 2 
Employee contributions3 3 — — 
Benefits paid(365)(352)(3)(2)
Foreign currency changes(235)472 — — 
Fair value of plan assets, December 31$8,495 $9,308 $— $— 
Net funded status, December 31$1,661 $1,787 $(46)$(40)
Amounts recognized in the consolidated balance sheets:
Non-current assets$1,913 $2,050 $— $— 
Current liabilities(8)(7)(3)(3)
Non-current liabilities(244)(256)(43)(37)
Net asset (liability) recognized, December 31$1,661 $1,787 $(46)$(40)
Amounts recognized in other comprehensive loss:
Prior service (cost) credit$(14)$(17)$1 $3 
Net actuarial (loss) gain(3,519)(3,219)3 17 
Total recognized accumulated other comprehensive (loss) income, December 31$(3,533)$(3,236)$4 $20 
Cumulative employer contributions in excess of (less than) net benefit (credit) cost5,194 5,023 (50)(60)
Net asset (liability) recognized in consolidated balance sheets, December 31$1,661 $1,787 $(46)$(40)
Accumulated benefit obligation, December 31$6,725 $7,396 $— $— 
Schedule of Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss)
U.S. Pension
Benefits		U.S. Post-retirement
Benefits
(In millions)2024202320242023
Reconciliation of net actuarial (loss) gain recognized in accumulated other comprehensive income (loss):
Beginning balance$(1,347)$(1,419)$4 $8 
Recognized as component of net benefit cost (credit)21 19 — (2)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Other— (7)— — 
Liability experience107 20 (2)(2)
Asset experience(208)40 — — 
Total gain recognized as change in plan assets and benefit obligations(101)53 (2)(2)
Net actuarial (loss) gain, December 31$(1,427)$(1,347)$2 $4 
Non-U.S. Pension
Benefits		Non-U.S.
Post-retirement Benefits
(In millions)2024202320242023
Reconciliation of prior service credit (cost) recognized in accumulated other comprehensive (loss) income:
Beginning balance$(17)$(16)$3 $5 
Recognized as component of net benefit (credit) cost:
Amortization of prior service credit (cost)1 — (2)(2)
Total recognized as component of net benefit cost (credit)1 — (2)(2)
Changes in plan assets and benefit obligations recognized in other comprehensive income:
Plan amendments2 — — — 
Exchange rate adjustments— (1)— — 
Prior service (cost) credit, December 31$(14)$(17)$1 $3 
Non-U.S. Pension
Benefits		Non-U.S.
Post-retirement Benefits
(In millions)2024202320242023
Reconciliation of net actuarial (loss) gain recognized in accumulated other comprehensive (loss) income:
Beginning balance$(3,219)$(2,610)$17 $6 
Recognized as component of net benefit cost (credit):
Amortization of net gain (loss) 10 3 (5)(1)
Effect of settlement2 2 — — 
Total recognized as component of net benefit cost (credit)12 5 (5)(1)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Liability experience423 (226)(9)10 
Asset experience(831)(191)— — 
Total amount recognized as change in plan assets and benefit obligations(408)(417)(9)10 
Exchange rate adjustments96 (197)— 2 
Net actuarial (loss) gain, December 31$(3,519)$(3,219)$3 $17 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
For the Years Ended December 31,U.S. Pension
Benefits		U.S. Post-retirement
Benefits
(In millions)202420232022202420232022
Total recognized in net benefit (credit) cost and other comprehensive (income) loss $48 $(105)$(427)$2 $3 $(4)
For the Years Ended December 31,Non-U.S. Pension
Benefits		Non-U.S.
Post-retirement Benefits
(In millions)202420232022202420232022
Total recognized in net benefit (credit) cost and other comprehensive (income) loss$89 $429 $(436)$11 $(9)$(13)
Schedule of Estimated Future Benefit Payments for its Pension and Postretirement Benefits
The estimated future benefit payments for the Company's pension and post-retirement benefit plans are as follows:
For the Years Ended December 31,Pension
Benefits		Post-retirement
Benefits
(In millions)U.S.Non-U.S.U.S.Non-U.S.
2025$331 $377 $3 $3 
2026$337 $367 $2 $3 
2027$345 $373 $2 $3 
2028$348 $389 $2 $3 
2029$349 $405 $2 $3 
2030-2034$1,736 $2,207 $7 $15 
Schedule of the U.S. and Non-U.S. Plans Investments Measured at Fair Value on a Recurring Basis
The following table sets forth, by level within the fair value hierarchy, a summary of the U.S. and non-U.S. plans' investments measured at fair value on a recurring basis at December 31, 2024 and 2023:
Fair Value Measurements at December 31, 2024
Assets
(In millions)
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		NAVTotal
Common/collective trusts$2 $— $— $3,226 $3,228 
Corporate obligations— 2,675 — — 2,675 
Corporate stocks339 35 1 — 375 
Private equity/partnerships— — — 1,295 1,295 
Government securities20 4,559 — — 4,579 
Real estate— — — 57 57 
Short-term investment funds292 — — — 292 
Company common stock212 — — — 212 
Other investments9 13 289 — 311 
Total investments$874 $7,282 $290 $4,578 $13,024 
Net derivative liabilities— (449)— — (449)
Net investments$874 $6,833 $290 $4,578 $12,575 
  
Fair Value Measurements at December 31, 2023
Assets
(In millions)
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		NAVTotal
Common/collective trusts$43 $— $— $3,535 $3,578 
Corporate obligations— 2,806 — — 2,806 
Corporate stocks227 37 1 — 265 
Private equity/partnerships— — — 1,444 1,444 
Government securities23 5,077 — — 5,100 
Real estate— — — 63 63 
Short-term investment funds488 — — — 488 
Company common stock189 — — — 189 
Other investments7 14 302 — 323 
Total investments$977 $7,934 $303 $5,042 $14,256 
Net derivative liabilities— (804)— — (804)
Net investments$977 $7,130 $303 $5,042 $13,452 
Schedule of Changes in the Fair Value of the Plans' Level 3 Assets
The tables below set forth a summary of changes in the fair value of the plans’ Level 3 assets for the years ended December 31, 2024 and December 31, 2023:
Assets
(In millions)
Fair Value,
January 1, 2024		PurchasesSalesUnrealized
Gain/
(Loss)		Realized
Gain/
(Loss)		Exchange
Rate
Impact		Transfers
in/(out)
and
Other		Fair Value,
December 31, 2024
Other investments$302 $17 $(18)$6 $— $(18)$— $289 
Corporate stocks1 — — — — — — 1 
Total assets$303 $17 $(18)$6 $— $(18)$— $290 
Assets
(In millions)
Fair Value,
January 1, 2023		PurchasesSalesUnrealized
Gain/
(Loss)		Realized
Gain/
(Loss)		Exchange
Rate
Impact		Transfers
in/(out)
and
Other 		Fair Value,
December 31, 2023
Other investments$308 $16 $(15)$(21)$— $14 $— $302 
Corporate stocks1 — — — — — — 1 
Total assets$309 $16 $(15)$(21)$— $14 $— $303