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	Marsh & McLennan Companies - Wikipedia, the free encyclopedia
		Marsh and McLennan Companies (MMC) NYSE: MMC is a US-based global professional services and insurance brokerage firm.
		Burrows, Marsh and McLennan was formed by Henry W. Marsh and Donald R. McLennan in Chicago in 1905, becoming the world's largest insurance agency with annual premiums of $3 million ($59 million consumer price index adjusted).
		Marsh operates by collecting advisory fees from its clients — mainly large corporations but also small and mid-size businesses, municipal governments, school districts and some individuals — in exchange for locating property and casualty insurance coverage for them.
	en.wikipedia.org /wiki/Marsh_and_McLennan_Companies (507 words)

	Boston.com / Business / Marsh & McLennan to pay $850m
		Marsh and McLennan's agreement to settle fraud charges closes one of the most explosive cases Spitzer has brought yet in his crusade against unsavory but longstanding practices in corporate America.
		Marsh and McLennan has since dropped the practice of receiving so-called contingent commissions from insurers and now provides customers with more detailed accounting of fees and other payments associated with their policies.
		Marsh and McLennan's problems did help fuel discussions within Putnam and elsewhere in the industry about the fund company's breaking away from its parent and becoming independent in a possible management-led buyout or an investor-backed purchase.
	www.boston.com /business/articles/2005/02/01/marsh__mclennan_to_pay_850m (575 words)

	Marsh & McLennan (Site not responding. Last check: 2007-10-29)
		Marsh & McLennan is said to be considering plans to shed hundreds of the 6,450 jobs at its 30 insurance offices throughout the UK this spring.
		Marsh & McLennan is to set up a 147,000 sq ft headquarters for its Mercer Human Resources subsidiary at the K2 building in London's St Katharine Docks.
		Marsh & McLennan is planning to recruit 100 staff at its new Affinity Group Division in Witham, Essex, in order to focus on employee benefit and specialist insurance packages.
	www.ukbusinesspark.co.uk /man65828.htm (114 words)

	Marsh & McLennan executives indicted - Boston.com (Site not responding. Last check: 2007-10-29)
		Eight former executives at Marsh and McLennan Companies Inc. were charged with felonies in indictments unsealed Thursday in New York Attorney General Eliot Spitzer's investigation of bid rigging and price fixing in the insurance industry.
		New York Attorney General Eliot Spitzer announces the indictment of eight former Marsh and McLennan, Inc., insurance executives on charges of bid rigging, during a press conference in New York Thursday, Sept. 15, 2005.
		Marsh and McLennan shares rose 2 cents to close at $28.90 Thursday on the New York Stock Exchange.
	www.boston.com /business/articles/2005/09/16/marsh__mclennan_executives_indicted (712 words)

	Marsh & McLennan: The Marsh Birds (Site not responding. Last check: 2007-10-29)
		Marsh and McLennan agreed this year to pay $850 million in restitution to policyholders nationwide after New York Attorney General Eliot Spitzer accused the firm’s insurance brokers of steering clients to certain insurers in exchange for kickbacks commonly known as “contingent commissions.”...
		Marsh, part of Marsh and McLennan, the US group, also unveiled plans to ensure that the benefits of the reforms, induced by Eliot Spitzer, the New York attorney-general, should be passed on to clients....
		Marsh and McLennan was the target of an investigation by New York Attorney General Eliot Spitzer that accused it of price fixing and bid rigging.
	www.the-catbird-seat.net /MarshBirds.htm (4652 words)

	ABC News: Conn. AG Sues Marsh & McLennan, ACE (Site not responding. Last check: 2007-10-29)
		Blumenthal's civil lawsuit, filed in Hartford Superior Court, accuses Marsh & McLennan of illegally steering an $80 million state contract to ACE Financial Solutions Inc. It alleges that ACE paid Marsh a $50,000 commission for a contract that managed 678 state worker's compensation cases.
		Spokesmen for both Marsh and ACE said their companies were cooperating with Blumenthal's investigation.
		Marsh & McLennan shares fell 50 cents, or 1.6 percent, to close at $31.01 on the New York Stock Exchange.
	abcnews.go.com /Business/wireStory?id=432204 (459 words)

	Marsh & McLennan announces new business plan (Site not responding. Last check: 2007-10-29)
		Marsh & McLennan said in its announcement that "all revenue streams will be 100 percent transparent to clients." It said it would outline for the clients all fees, retail commissions, wholesale commissions and premium finance compensation.
		Marsh & McLennan also has formed a global compliance organization, reporting to Cherkasky, who holds the titles of president and CEO, and to the board's audit committee.
		The departure of Greenberg, 53, who had been CEO of Marsh & McLennan since November 1999, was aimed at spurring settlement talks with New York's attorney general, as is the new reform package.
	www.sfgate.com /cgi-bin/article.cgi?file=/news/archive/2004/10/26/financial0954EDT0063.DTL&type=printable (853 words)

	Marsh & McLennan Profit Drops
		Marsh and McLennan's (MMC:NYSE - news - research) second-quarter net income dropped sharply from a year ago, but the financial services firm said its adjusted profit topped Wall Street's estimates.
		The investigation led to the resignation of the company's CEO, and in January Marsh agreed to pay $850 million in a settlement.
		Shares of Marsh and McLennan were up 8 cents to $29.04.
	www.thestreet.com /stocks/banking/10236040.html (260 words)

	CorpWatch : US: Leaders of Brokerage Made Partnerships for Private Profits
		Marsh repeatedly worried about the possibility of conflicts of interest in the fund, according to the partnership's incorporation papers and other public filings.
		Marsh and McLennan, which invested $300 million in the fund, has not disclosed which outside directors invested in it, or how much money they put up.
		Greenberg, Marsh's chairman, were entitled to $210,000 incentive payments as a result of the deal, but both men deferred the payments "in view of the potential conflict of interest," the filing said.
	www.corpwatch.org /article.php?id=11616 (1174 words)

	Welcome to Marsh. The world's #1 risk specialist. (Site not responding. Last check: 2007-10-29)
		A Letter to Clients from Marsh Chairman and CEO Brian Storms More...
		Marsh Selected to Provide Insurance and Risk Services for 2008 Summer Olympics in Beijing More...
		Marsh and Kroll's Property Catastrophe team is in place to respond to storm-related client losses.
	www.marsh.com (157 words)

	Labor Dept. Subpoenas Marsh & McLennan - WTOP Radio
		According to Marsh and McLennan's annual report filed with the Securities and Exchange Commission, some of the sought-after documents show how the company's subsidiaries were compensated for their services to the benefit plans.
		Marsh and McLennan said it is fully cooperating with the Labor Department.
		Marsh and McLennan is fully cooperating with the request, the filing said.
	www.wtopnews.com /index.php?nid=111&sid=441855 (366 words)

	Stock of the Day: Marsh & McLennan (MMC)
		The lawsuit was part of an industry-wide probe launched by his office, and has already resulted in the ouster of Marsh Chief Executive Jeffrey Greenberg and several other executives, the appointment of a new general counsel, elimination contingent commissions, and far-reaching changes in the board of directors.
		Marsh has already set aside $232 million to pay for a settlement and has also set up a new $3 billion financing package with leading banks, including Citibank, Bank of America and Deutsche Bank.
		Marsh & McLennan Co's is primarily a holding company which, through its subsidiaries and affiliates, provides clients with analysis, advice and transactional capabilities in the fields of risk and insurance services, investment management and consulting.
	www.investorguide.com /stock-archives.cgi?date=011405 (644 words)

	Marsh & McLennan Reports $676M 4Q Loss
		NEW YORK -- Marsh and McLennan Companies Inc., the nation's largest insurance brokerage, on Tuesday reported a wider-than-expected loss of $676 million for the fourth quarter as it absorbed a host of restructuring charges, regulatory fines and related expenses, The Associated Press reported.
		As part of its earnings announcement Tuesday, Marsh and McLennan said it was cutting its dividend in half.
		Marsh and McLennan also said that some 2,500 workers would likely by laid off from Marsh Inc., the risk and insurance services unit that was at the center of a probe by New York Attorney General Eliot Spitzer into bid rigging, price fixing and the use of hidden incentive fees.
	www.nysscpa.org /home/2005/305/1week/article25.htm (167 words)

	Marsh & McLennan to settle / Insurance broker to pay $850 million in price-fixing probe
		In the suit, Spitzer charged that Marsh frequently steered clients to major insurers that made back-door payments to the broker, and in some cases even fabricated bids to deceive clients into thinking they were getting the lowest-priced policies.
		Marsh also agreed to accept only a single fee for placing clients with insurance companies, and to disclose it clearly.
		Marsh will compensate domestic clients who bought policies with inception dates from Jan. 1, 2001 to Dec. 31, 2004, if the policies resulted in the contingent commission overrides.
	www.sfgate.com /cgi-bin/article.cgi?f=/c/a/2005/02/01/BUG1VB3IIH1.DTL (709 words)

	Marsh & Mclennan "buy" \| newratings.com (Site not responding. Last check: 2007-10-29)
		Marsh & Mclennan Companies Inc is a global professional services company that provides analysis, advice and transactional services to clients worldwide.
		The acquisition is expected to enhance Marsh & Mclennan's ability to provide a full range of consulting services, in addition to diversifying the company's earnings stream, Deutsche Bank Securities mentions.
		Marsh & Mclennan's 2005 earnings are expected to increase by $0.05 per share, in the event of the company continuing with its share buyback program, the analysts add.
	www.newratings.com /analyst_news/article_424586.html (320 words)

	The Corporate Library - Governance - Spotlight Topics - Boards & Directors - Marsh & McLennan Companies adds ... (Site not responding. Last check: 2007-10-29)
		Bowing to pressure, on March 18, 2004, Marsh and McLennan announced it was including an independent nominee (chosen from a suggested list submitted by the investors), Zachary Carter, to its slate for election to its board of directors at its May 20, 2004 annual meeting.
		In the past three years Marsh and McLennan has been named as the defendant in at least two securities class action lawsuits, as detailed below.
		The Marsh and McLennan board includes a director that has been involved with other boards that have experienced serious problems related to poor governance.
	www.thecorporatelibrary.com /Governance-Research/spotlight-topics/spotlight/boardsanddirectors/mmc-independent-director.html (744 words)

	Marsh & McLennan to pay $850 million in settlement
		Marsh apologized for the behavior of employees who "unlawfully deceived their customers" and said that such conduct was "shameful." Spitzer, in an October lawsuit, accused the company of bid rigging and steering bids to insurers who paid special fees called contingent commissions.
		Marsh's shares rose $1.41, or 4.5 percent, to close at $32.50 on the New York Stock Exchange.
		Marsh said it would book a pretax charge of $618 million in the fourth quarter, in addition to the $232 million settlement reserve it established in the third quarter.
	www.badfaithinsurance.org /reference/General/0060a.htm (729 words)

	Spitzer Sues Marsh & McLennan, AIG
		New York Attorney General Eliot Spitzer sued insurance giants Marsh and McLennan, American International Group and several others Thursday, alleging policy brokers have been taking payoffs from insurance companies to steer corporate clients their way rather than get the best prices, as they are required.
		Two insurance company executives were expected to plead guilty to participating in the illegal conduct and are expected to testify in future cases, Spitzer said in announcing the broader investigation into whether brokers and companies violated fraud and antitrust laws and regulations.
		One Marsh executive said in a memo that the amount of commissions would determine "who (we) are steering business to and who we are steering business from," according to Spitzer.
	www.badfaithinsurance.org /reference/General/0014a.htm (600 words)

	Chief of Marsh & McLennan resigns
		Spitzer filed a civil suit against Marsh & McLennan on Oct. 14, charging the brokerage was rigging bids and fixing prices in the sale of property and casualty insurance to businesses.
		The board said that Greenberg - Marsh’s chairman and CEO - will be replaced by Michael Cherkasky, 54, who just last week was named head of Marsh Inc., the company’s insurance brokerage unit.
		Kroll was purchased by Marsh & McLennan in July 2004.
	www.showmenews.com /2004/Oct/20041026Busi010.asp (429 words)

	CNN.com - Spitzer's controversial insurance lawsuit - Nov 1, 2004
		Spitzer's complaint against the insurance broker Marsh and McLennan alleged statutory claims for fraud, securities fraud, and antitrust violations, and common law claims for fraud and unjust enrichment.
		But March and McLennan used a different (and quite popular) commission system that is at the heart of Spitzer's complaint.
		Marsh allegedly steered the contract to one insurer, Zurich, in exchange for a contingent commission.
	www.cnn.com /2004/LAW/11/01/sebok.spitzer (1769 words)

	WJLA - Marsh & McLennan Reports $676M 4Q Loss (Site not responding. Last check: 2007-10-29)
		Marsh & McLennan Companies Inc., the nation's largest insurance brokerage, on Tuesday reported a wider-than-expected loss of $676 million for the fourth quarter as it absorbed a host of restructuring charges, regulatory fines and related expenses.
		Marsh & McLennan also said that some 2,500 workers would likely by laid off from Marsh Inc., the risk and insurance services unit that was at the center of a probe by New York Attorney General Eliot Spitzer into bid rigging, price fixing and the use of hidden incentive fees.
		Three former brokers from the Marsh Inc. division already have pleaded guilty to criminal charges stemming from the investigation.
	www.wjla.com /headlines/0305/210440.html (566 words)

	Fitch Drops Marsh & McLennan's Senior Debt (Site not responding. Last check: 2007-10-29)
		Marsh has the ability to free up significant amounts of cash over time even under very conservative stress scenarios if it chooses to take certain actions.
		Further, approximately $600 million of annual cash flow is available if Marsh were to eliminate its shareholder dividend, which could be an ultimate course of action under a scenario of high fines and/or challenges in refinancing its bank debt.
		Thus, Fitch believes that there is a fundamental change in Marsh's operating profile in which the company will fade from a superb profit generator and that Marsh's pretax brokerage margins could drop from 24-28% historically to as low as 12-15% over the next eighteen months.
	www.insurancejournal.com /news/national/2004/10/28/47272.htm (1222 words)

	S&P 500 and more Marsh & McLennan (Site not responding. Last check: 2007-10-29)
		Marsh Inc. is the world's leading risk and insurance services firm.
		Marsh & McLennan Securities Corporation is the specialized investment banking arm of the Marsh & McLennan Companies.
		Marsh is the worlds leading insurance broker and risk advisor, providing advice and transactional capabilities to clients in over 100 countries.
	www.theuptrend.com /S&P500/Marsh-&-McLennan.htm (400 words)

	Marsh & McLennan "underweight" \| newratings.com
		Marsh & McLennan quote - chart - all headlines - analyst actions
		In a research note published this morning, the analyst mentions that the company reported its 3Q04 revenues in-line with and EPS significantly short of the estimates.
		Marsh & McLennan has announced a substantial headcount reduction programme, the analyst says.
	www.newratings.com /analyst_news/article_507294.html (203 words)

	Marsh Mclennan Companies News
		Marsh Mclennan Companies News continually updated from thousands of sources around the net.
		Five top members of Marsh Inc.'s financial and professional liability team announced Friday that they were moving to one of Marsh's competitors and setting up a new executive liability practice there.
		McLennan and two executives at American International Group became the latest casualties in the growing insurance fraud scandal.
	www.topix.net /com/mmc (844 words)

	Marsh & McLennan Profit Slides
		Beleaguered financial services giant Marsh and McLennan (MMC:NYSE - news - research) said its first-quarter earnings fell from a year ago on costs related to restructuring, employee retention, regulatory and compliance matters, and potential Putnam fund reimbursements.
		Consolidated revenue totaled $3.2 billion, and net income was $134 million, or 25 cents a share, after pretax costs of about $225 million.
		Marsh & McLennan in $850 Million Insurance Settlement
	www.thestreet.com /funds/funds/10221308.html (224 words)

	Marsh McLennan - National Class Action
		Mega Broker Marsh and McLennan (major commercial insurance provider throughout Canada) sued for alleged multi-million dollar wrongdoing.
		We believe the evidence will show that these fees and incentives were hidden by Marsh from their customers, and used to bait brokers into recommending Marsh McLennan insurance and services, even when better policies might have been available from other competitors.
		A broker is supposed to be the client’s servant, not the insurer’s pitch man. In this case, we advance, that brokers were more concerned with promoting Marsh McLennan’s interests and products than protecting the consumer and providing the best and most competitive coverage available.
	www.merchantlaw.com /marsh.html (305 words)

	Marsh Mclennan Companies Attorney Lawyer Lawsuit
		A class action has been filed against Marsh and McLennan Companies, Inc. (NYSE: MMC) and certain of its officers and directors by stockholders who purchased the company’s common stock between October 15, 1999 and October 14, 2004.
		The complaint alleges that defendants violated the federal securities laws by failing to disclose to investors that, in truth and in fact, Marsh did not consider its clients’ best interest but, on the contrary, derived a substantial portion of its reported revenue by cheating them through the use of price fixing, kickbacks and bid rigging.
		(d) Marsh failed to disclose to investors that defendants’ conduct exposed the Company to civil and criminal penalties and concomitant liabilities, and that such penalities had a materially adverse effect on the Company’s financial performance and prospects.
	www.lawcash.com /attorney/3857/marsh-mclennan-companies-lawsuit.asp (708 words)

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