Marsh & McLennan
|Marsh & McLennan|
|Founder||• Henry W. Marsh|
• Donald R. McLennan
|Parent organization||Marsh & McLennan|
|Headquarters||1166 Avenue of the Americas, New York City, New York, U.S., United States|
• Guy Carpenter
• Oliver Wyman Group
|Member of||WEF/Strategic Partners|
|Exposed by||Richard Grove|
|Bush connected company. Hit on 11 September 2001. Everybody present in the offices at the time of the attack died.|
Marsh & McLennan Companies (MMC) is a global professional services firm, which is headquartered in New York City with businesses in insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting.
When American Airlines Flight 11 crashed into the North Tower of the World Trade Center, MMC's offices spanned the entire impact zone, floors 93 to 99. Everyone present in the company's offices on the day of the attack died as all stairwells and elevators passing through the impact zone were destroyed or blocked by the crash or the direct impact of the plane crashing into the tower where the company was; the firm lost 295 employees and 63 contractors.
At least two Bush family relatives are connected with Marsh McLennan:
- Craig Stapleton (husband of George W. Bush's first cousin Dorothy) was President of Marsh & McLennan Real Estate Advisors of New York from 1982 until 2001; and,
- MMC introduced the concept of the insurance broker acting as a buyer of insurance on behalf of clients, rather than as a seller of insurance. Today, we continue to add new value for clients through innovative insurance programmes and efficient placement processes.
- MMC pioneered the concept of self-insurance, with associated risk management actions to mitigate exposures. In 2005, MMC's "Risk Consulting Practice" in the UK was named as the best risk management service provider by large UK companies.
- MMC were the first broker to send risk experts to a catastrophe site - San Francisco in the aftermath of the earthquake, and are leaders today in evaluating catastrophe risk for clients and using the latest catastrophe modelling techniques.
- MMC arranged the first 'space-bound' life insurance coverage for Mercury astronauts. Currently, Marsh has the largest Aviation account world-wide.
- MMC introduced a suite of merger and acquisition solutions covering tax opinions, representations and warranties, and litigation buyouts to facilitate transactions and enhance their value. In 2005, MMC's market-leading "Private Equity and Mergers & Acquisitions" (PEMA) Practice were advisers to over 400 deals in Europe.
- In 1980, Marsh acquired C T Bowring & Co in the UK.
- In 1997, Marsh merged with Johnson & Higgins, further strengthening the Company's leadership in risk and insurance services.
- In 1998, Marsh acquired the UK-based Sedgwick Group.
Event Participated in
|WEF/Annual Meeting/2022||22 May 2022||26 May 2022||Switzerland||1912 guests in Davos|