• Marsh & McLennan average debt/equity ratio for 2023 was 0.95, a 5% decline from 2022.
• Marsh & McLennan average debt/equity ratio for 2022 was 1, a 1.96% decline from 2021.
• Marsh & McLennan average debt/equity ratio for 2021 was 1.02, a 25% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.