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Marsh & McLennan's Arm Buys Stake in Corridor Platforms
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Marsh & McLennan Companies, Inc.’s (MMC - Free Report) unit Oliver Wyman recently acquired a minority stake in Corridor Platforms, which is a leading decision workflow governance and automation software provider.
In July 2019, Oliver Wyman entered into a strategic partnership with Corridor Platforms to offer banks and non-bank financial institutions solutions and help update and digitize credit extension, transactions and end-to-end risk management. This tie-up allowed Corridor Platforms’ unique, modular and cloud-based risk management platform that assists in credit modeling, loan valuation and real-time policy execution to combine with Oliver Wyman’s competence in risk management, such as next-generation risk analytics, model development and data or process management.
Oliver Wyman utilized Corridor Platforms’ solution to enable timely end-to-end credit decision making while enhancing governance. With Corridor Platforms, the process of big data and analytics can be condensed to a few weeks from months. This strategic initiative is the right move during these challenging times as demand for fast credit models and decisioning is at its peak.
Notably, Corridor Platforms will be able to gain traction from Oliver Wyman’s experience in the forefront of risk management and advanced analytics. The deal was struck at a time when the market is quite volatile with insurers facing high claims and new threats in the wake of the coronavirus outbreak.
In the first quarter of 2020, Oliver Wyman Group, registered revenues of $511 million, flat year over year on an underlying basis. Per its last earnings call, management expected to witness a pullback in underlying revenues from this business line in the second and the third quarter. But once the global economy stabilizes, the metric is likely to bounce back strongly.
Other Major Acquisitions in the Same Space
Insurance brokers have been looking for ways to fight the evolving challenges and boost their company portfolios. In this context, strategic buyouts will be of great help. Last month, Brown & Brown, Inc. (BRO - Free Report) subsidiary Hull & Company, LLC acquired substantially all the assets of The Colonial Group and all issued and outstanding shares of its affiliate, Colonial Premium Finance Company.
Zacks Rank and Price Performance
Shares of this Zacks Rank #4 (Sell) company have rallied 12.7% in a year’s time, outperforming its industry’s growth of 7%. The performance looks feeble in comparison to other companies in the same space, such as eHealth, Inc. (EHTH - Free Report) and Willis Towers Watson Public Limited Company , which have gained 87.8% and 15.3% in the same time frame.
In addition to the companies you learned about above, we invite you to learn about 5 cutting-edge stocks that could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of the decade. See the 5 high-tech stocks now>>
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Marsh & McLennan's Arm Buys Stake in Corridor Platforms
Marsh & McLennan Companies, Inc.’s (MMC - Free Report) unit Oliver Wyman recently acquired a minority stake in Corridor Platforms, which is a leading decision workflow governance and automation software provider.
In July 2019, Oliver Wyman entered into a strategic partnership with Corridor Platforms to offer banks and non-bank financial institutions solutions and help update and digitize credit extension, transactions and end-to-end risk management. This tie-up allowed Corridor Platforms’ unique, modular and cloud-based risk management platform that assists in credit modeling, loan valuation and real-time policy execution to combine with Oliver Wyman’s competence in risk management, such as next-generation risk analytics, model development and data or process management.
Oliver Wyman utilized Corridor Platforms’ solution to enable timely end-to-end credit decision making while enhancing governance. With Corridor Platforms, the process of big data and analytics can be condensed to a few weeks from months. This strategic initiative is the right move during these challenging times as demand for fast credit models and decisioning is at its peak.
Notably, Corridor Platforms will be able to gain traction from Oliver Wyman’s experience in the forefront of risk management and advanced analytics. The deal was struck at a time when the market is quite volatile with insurers facing high claims and new threats in the wake of the coronavirus outbreak.
In the first quarter of 2020, Oliver Wyman Group, registered revenues of $511 million, flat year over year on an underlying basis. Per its last earnings call, management expected to witness a pullback in underlying revenues from this business line in the second and the third quarter. But once the global economy stabilizes, the metric is likely to bounce back strongly.
Other Major Acquisitions in the Same Space
Insurance brokers have been looking for ways to fight the evolving challenges and boost their company portfolios. In this context, strategic buyouts will be of great help. Last month, Brown & Brown, Inc. (BRO - Free Report) subsidiary Hull & Company, LLC acquired substantially all the assets of The Colonial Group and all issued and outstanding shares of its affiliate, Colonial Premium Finance Company.
Zacks Rank and Price Performance
Shares of this Zacks Rank #4 (Sell) company have rallied 12.7% in a year’s time, outperforming its industry’s growth of 7%. The performance looks feeble in comparison to other companies in the same space, such as eHealth, Inc. (EHTH - Free Report) and Willis Towers Watson Public Limited Company , which have gained 87.8% and 15.3% in the same time frame.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks to Soar Past the Pandemic:
In addition to the companies you learned about above, we invite you to learn about 5 cutting-edge stocks that could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of the decade.
See the 5 high-tech stocks now>>