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 |
| Subgroups | • Marsh • Guy Carpenter • Mercer • Oliver Wyman Group |
| Staff | 57,000 |
| 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.
Trading as Marsh McLennan, MMC's four subsidiaries and main operating companies are Marsh, Guy Carpenter, Mercer, and Oliver Wyman.
Marsh McLennan ranked #212 on the "2018 Fortune 500" ranking, the company's 24th year on the annual "Fortune" list, and #458 on the 2017 Forbes "Global 2000" List.
In 2017, Business Insurance ranked Marsh McLennan #1 of the world's largest insurance brokers.[1]
Marsh's $10.208 billion in revenue in 2021 accounted for 52% of MMC's fiscal year revenue.[2]
9/11
Marsh McLennan is a company which was literally hit on 11 September 2001.
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.
A memorial to those lost on 9/11 is located in the plaza adjacent to Marsh McLennan's New York Headquarters at 1166 Avenue of the Americas.[3]
Bush connections
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,
- Prescott Bush Jr. - a consultant for an MMC company, Johnson and Higgins.
UK history
MMC has existed since 1871 and has been a pioneer in risk and insurance services for over 130 years. Throughout, MMC have demonstrated industry leadership in numerous ways:
- 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.[4]
UK growth
In the UK, Marsh has grown both organically and through strategic acquisitions that have strengthened its expertise and resources:
- In 1980, Marsh acquired C T Bowring & Co in the UK.[5]
- 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.[6]
Event Participated in
| Event | Start | End | Location(s) | Description |
|---|---|---|---|---|
| WEF/Annual Meeting/2022 | 22 May 2022 | 26 May 2022 | Switzerland World Economic Forum | 1912 guests in Davos |
References
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