Marsh & McLennan Cos., Inc. history, profile and corporate video
Marsh & McLennan Cos., Inc. is a global professional services company providing advice and solutions in the areas of risk, strategy and human capital. It operates through two segments: Risk & Insurance Services and Consulting. The Risk & Insurance Services segment includes risk management activities, such as risk advice, risk transfer and risk control and mitigation solutions, as well as insurance and reinsurance broking and services. This segment conducts business through Marsh and Guy Carpenter. The Consulting segment includes retirement, health, talent and investments consulting and services, and specialized management and economic consulting services. This segment conducts business through Mercer and Oliver Wyman Group. The company was founded by Henry W. Marsh and Donald R. McLennan in 1871 and is headquartered in New York, NY.“
“Marsh & McLennan History
Burrows, Marsh & McLennan was formed by Henry W. Marsh and Donald R. McLennan in Chicago in 1905. It was renamed as Marsh & McLennan in 1906.
The company expanded over the years becoming one of the world’s largest insurance agencies through growth and acquisition.
The reinsurance firm Guy Carpenter & Company is acquired in 1923 a year after its founding by Guy Carpenter.
In 1975, Marsh & McLennan acquired the human resources consulting firm Mercer.
In 1997, the company bought Johnson & Higgins and Sedgwick shortly after.
In 2003, it purchased the consultancy business Oliver, Wyman & Company and merged these with some of the consultancy businesses it already had from previous acquisitions, particularly the Mercer business under the brand name of Oliver Wyman.
In August 2007, Marsh completed the sale of its Putnam Investments division to Great-West Lifeco Inc., a financial services holding company controlled by Canada-based Power Financial Corp. after it settled charges of market timing.
September 11 attacks
At the time of the September 11 attacks in the United States in 2001, the corporation held offices on eight floors of the North Tower of the World Trade Center, from 93 to 100. When American Airlines Flight 11 crashed into the building, their offices spanned the entire impact zone, from floors 93 to 99. Everybody present in the offices at the time of the attack died, and the firm lost 295 employees and 63 contractors.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “Marsh & McLennan Companies“