$MMC has released its fourth-quarter earnings, showcasing solid growth despite market challenges. Key highlights include a 7% underlying revenue growth and an 11% increase in adjusted EPS to $1.87. Operational expenses surged due to the McGriff acquisition, leading to expected restructuring costs of $450-$500M over three years. Notably, risks include uncertain market conditions post-wildfires and fluctuating rates. However, the firm plans for continued capital returns and maintains a positive outlook for 2025!