Marsh & McLennan Companies, Inc. MMC delivered first-quarter 2021 adjusted earnings per share of $1.99, surpassing the Zacks Consensus Estimate by 17.1%. This is owing to a solid contribution from its Risk and Insurance Services as well as Consulting segments. Moreover, the bottom line increased 21.3% from the year-ago quarter.Marsh & McLennan’s consolidated revenues of $5.1 billion were up 9% year over year. Moreover, the top line beat the Zacks Consensus Estimate by 5.6% on the back of its strong Risk and Insurance Services as well as Consulting segments.Total operating expenses of $3.7 billion in the first quarter were up 4% 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 $3.2 billion, up 7% on an underlying basis. Adjusted operating income improved 17% to $1.1 billion from the prior-year quarter’s level.Marsh, a unit within this segment, generated revenues of $2.3 billion, up 8% on an underlying basis. In the U.S./Canada, underlying revenues rose 9% year over year.Underlying revenues from international operations rose 6% year over year including an 8% increase of the same in the Asia Pacific, a 6% rise in Latin America and a 6% hike in EMEA.Revenues from another unit under this segment, Guy Carpenter, were up 7% year over year on an underlying basis in the quarter under review.ConsultingRevenues were up 3% on an underlying basis to $1.9 billion. Also, adjusted operating income was up 28% to $370 million.A unit within this segment, Mercer, generated revenues of $1.3 billion, which were flat on an underlying basis. Wealth’s revenues were up 1% on an underlying basis. Health’s revenues were flat year over year while that of Career was up 1% on an underlying basis. Another unit Oliver Wyman Group registered revenues of $585 million, up 11% year over year on an underlying basis.Financial UpdateMarsh & McLennan exited the first quarter with cash and cash equivalents of $1.1 billion, down 46.4% from the level at 2020 end.Net cash used for operations stood at $408 million, lower than the year-ago quarter’s $638 million.As of Mar 31, 2021, Marsh & McLennan’s total assets were $32.3 billion, down 2.3% from the figure as of Dec 31, 2020.Total equity was $9.6 billion, up 3.6% from the level at 2020 end.Zacks Rank and Performance of Other PlayersMarsh & McLennan carries a Zacks Rank #2 (Buy), 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 first-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.Time to Invest in Legal MarijuanaIf you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >> 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