Latest Marsh McLennan Headlines
All the headlines from our Marsh McLennan Topic Page, ordered by recency.
Quarterly Profit Down 62% at Marsh; 2007 Revenues Up 8%
Feb 24 2008 // Quarterly profits at Marsh & McLennan dropped 62 percent, as fourth quarter and annual revenues rose 8 percent. The giant insurance brokerage reported that fourth quarter net income dropped to $85 million, or 16 cents...
Ex-Marsh & McLennan CEO Cherkasky to Get $7.15M Severance
Feb 22 2008 // Marsh & McLennan Cos. Inc. will pay Michael Cherkasky, the executive they brought in to broker a costly legal settlement in 2005, $7.15 million as part of a severance package reached after he was forced out earlier...
Marsh Moves to Declassify Board of Directors
Feb 14 2008 // Marsh & McLennan Companies, Inc. (MMC) today announced that its board of directors has decided to eliminate its current three-class structure, subject to shareholder approval. As a result of the board’s...
Quarterly Profit Down 62% at Marsh
Feb 12 2008 // Quarterly profits at Marsh & McLennan dropped 62 percent, as fourth quarter and annual revenues rose 8 percent. The giant insurance brokerage reported that fourth quarter net income dropped to $85 million, or 16 cents...
People
Feb 10 2008 // Susan Doyle has been named president and COO of Wisconsin-based Wausau Insurance, part of the commercial markets business unit of the Boston-based Liberty Mutual Group. Doyle replaces Mark Fiebrink, who retired. Doyle...
People
Feb 10 2008 // Former Ace Ltd. CEO and Chairman Brian Duperreault has stepped down from the Bermuda-based insurer to assume to role of president and CEO of Marsh & McLennan Companies Inc. Duperreault replaces Michael Cherkasky, who...
People
Feb 10 2008 // Louisiana Workers’ Compensation Corporation hired Michael Page as director of safety and loss prevention. Page previously was director of loss prevention services for Workforce Safety and Insurance in North Dakota...
ACE Says Goodbye to Duperreault
Jan 31 2008 // ACE Limited announced that Brian Duperreault, the Company’s former chairman and CEO, has stepped down from the ACE Limited Board of Directors as a result of his appointment as CEO of Marsh & McLennan Companies...
ACE’s Duperreault Named CEO of Marsh & McLennan
Jan 30 2008 // Marsh & McLennan Companies, Inc. (MMC) has appointed Brian Duperreault, who helped grow Bermuda-based ACE Limited, as president and chief executive officer of MMC, effective immediately. He replaces Michael Cherkasky,...
Despite Woes, Biggest Insurance Brokers Still Make the Grade
Jan 27 2008 // Fitch reports leaner and more transparent brokers are better equipped to deal with changing market conditions Taken as a group, the nation’s largest public insurance brokers did better in 2007 than 2006, although the...
Guy Carp Names 3 New Executive Committee Members
Jan 25 2008 // Guy Carpenter & Company has named Nick Frankland, Andrew Marcell and Ryan Ogaard to its Executive Committee. The Committee is “responsible for developing the firm’s strategic plan, setting budgets,...
Despite Woes, Big Insurance Brokers Still Make the Grade, Says Fitch
Jan 16 2008 // Taken as a group, the nation’s largest public insurance brokers did better in 2007 than 2006, although the continuing soft market will make it harder for them to improve a lot on the 2007 performance in 2008,...
Guy Carp to Open Prague Office
Jan 15 2008 // Guy Carpenter & Company, announced that it will be opening an office in Prague on March 1, 2008, to further develop business and serve clients based or conducting business in the Czech and Slovak Republics. The new...
Guy Carpenter Publishes Official 2008 Reinsurance Review
Jan 11 2008 // Guy Carpenter & Company has released its “2008 Reinsurance Market Review: Near Misses Call for Caution.” The report presents a comprehensive review of global market conditions as of the January 1, 2008...
Guy Carpenter Publishes Reinsurance Review
Jan 3 2008 // Guy Carpenter greeted the new year with the publication of “Near Misses, Plentiful Reminders: Global Reinsurance Review January 2008,” which it describes as a “briefing on the major trends driving pricing...
Top Insurance Stories in 2007
Dec 31 2007 // The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of...
2007: Climate Change Dominates Debate While Soft Market Hits Entire P/C Market
Dec 23 2007 // The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of...
Guy Carp Publishes UK Flood Report
Dec 14 2007 // Guy Carpenter & Company, LLC has published “Wrong Type of Rain: Impact and Implications of 2007 UK Floods,” an in-depth analysis on the extensive flooding that caused severe damage in north-eastern England...
S&P Downgrades MMC’s Ratings to ‘BBB-‘ on Marsh Problems
Dec 6 2007 // Standard & Poor’s Ratings Services has lowered its counterparty credit rating on Marsh & McLennan Cos. (MMC) to ‘BBB-‘ from ‘BBB’ as well as its short-term debt rating on MMC to...
Guy Carpenter Appoints Abrantes Senior Vice President, Iberia
Dec 5 2007 // Guy Carpenter & Company announced the appointment of Carlos Abrantes as Senior Vice President of Iberian operations. He will be based in Lisbon, and will be responsible for developing the firm’s Portuguese...
