Marsh & McLennan Companies, Inc. MMC delivered fourth-quarter 2020 adjusted earnings per share of $1.19, surpassing the Zacks Consensus Estimate of $1.14 by 4.4% on a solid contribution from its Risk and Insurance Services segment. Meanwhile, the bottom line was flat with the year-ago quarter.Marsh & McLennan’s consolidated revenues of $4.4 billion were up 4% year over year. Moreover, the top line beat the Zacks Consensus Estimate by 3.7% on the back of its strong Risk and Insurance Services segment.Total operating expenses of $3.8 billion in the fourth quarter were up 4.7% year over year due to higher compensation and benefits.Marsh & McLennan Companies, Inc. Price, Consensus and EPS Surprise Marsh & McLennan Companies, Inc. price-consensus-eps-surprise-chart | Marsh & McLennan Companies, Inc. QuoteQuarterly Segmental ResultsRisk and Insurance ServicesRevenues at this segment were $2.5 billion, up 3% on an underlying basis. Adjusted operating income decreased 5% to $525 million from the prior-year quarter’s level.Marsh, a unit within this segment, generated revenues of $2.4 billion, up 4% on an underlying basis. In the U.S./Canada, underlying revenues rose 7% year over year.Underlying revenues from international operations were flat year over year including a 1% increase of the same in the Asia Pacific, a 3% rise in Latin America and a 2% drop in EMEA.Revenues from another unit under this segment, Guy Carpenter, were up 5% year over year on an underlying basis in the quarter under review.ConsultingRevenues were down 1% on an underlying basis to $1.9 billion. Also, adjusted operating income were up 8% to $387 million.A unit within this segment, Mercer, generated revenues of $1.3 billion, down 3% on an underlying basis. Wealth’s revenues dipped 1% on an underlying basis. Health and Career’s revenues were down 2% and 7%, respectively, year over year on an underlying basis. Another unit Oliver Wyman Group registered revenues of $590 million, up 4% year over year on an underlying basis.Financial UpdateMarsh & McLennan exited the fourth quarter with cash and cash equivalents of $2.1 billion, up 80.9% % from the level at 2019 end.Net cash provided by operating activities totaled $3.3 billion at the end of the fourth quarter, up 43.2% year over year.As of Dec 31, 2020, Marsh & McLennan’s total assets were $33 billion, up 5.3% from the figure as of Dec 31, 2019.Total equity was $9.2 billion, up 16.6% from the level at 2019 end.Full-Year ResultsFor 2020, revenues of the company were $17.2 billion, up 1% on an underlying basis. Adjusted earnings per share for last year were up 7% year over year to $4.97.Zacks Rank and Performance of Other PlayersMarsh & McLennan carries a Zacks Rank #3 (Hold), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Of the insurance industry players that have reported fourth-quarter results so far, earnings of The Travelers Companies, Inc. TRV, W.R. Berkley Corporation WRB and Brown & Brown, Inc. BRO beat the respective Zacks Consensus Estimate.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot stocks we're targeting >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Travelers Companies, Inc. (TRV): Free Stock Analysis Report W.R. Berkley Corporation (WRB): Free Stock Analysis Report Marsh & McLennan Companies, Inc. (MMC): Free Stock Analysis Report Brown & Brown, Inc. (BRO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research