I feel like the insurance brokers don& #39;t get nearly enough love on fintwit.

Look at what $AON has accomplished over the past decade:

-4% Revenue CAGR
-890bps of margin expansion
-11% EPS CAGR!
-14% FCF CAGR!
-ROIC has improved from 11.7% to 23.5%

Similarly look at $MMC has accomplished over the past decade:

-5% Revenue CAGR
-970bps of margin expansion
-10.2% Operating Income CAGR
-11.7% EPS CAGR

The industry continues to consolidate and AON& #39;s upcoming merger with WLTW looks more likely; the brokers should continue to benefit from pricing power, and further operating leverage.

$MMC and $AON trade at reasonable valuations, guiding to MSD rev growth and HSD/LDD EPS growth

And frankly I& #39;ve missed it too despite covering the sector off and on for a few years.

I& #39;m initiating a position in $WLTW to take advantage of that sweet 4% merger arb spread.