Marsh & McLennan Puts Troubles Behind as It Prepares to Grow
Marsh & McLennan was once the largest insurance broker in the world, until a series of scandals and management shakeups relegated it to the investor doghouse and downshifted it into second place behind Aon Corp. But under CEO Brian Duperreault, who came on board in January 2008 after serving many years as a top executive at Ace Limited, Marsh wants to return to its former glory and regain its title the old fashioned way: through acquisitions. Insurance brokers work for companies that need insurance, negotiating rates and plans with insurers such as American International Group, Hartford Financial and Travelers. But sometimes they also work for the insurers themselves; taking commissions in return for the business they bring the insurer. And…
0 Comments