The SNL insurance broker index, which includes every public insurance company in the U.S., lost more than a quarter of its value since New York Attorney General Elliot Spitzer announced his investigation into contingent commissions and bid rigging. In response, several large brokers abolished or suspended the commissions including Marsh and McLennan (MMC), Aon (AOC) and Willis Group (WSH). Marsh and McLennan shares recently staged a modest recovery upon the news that CEO Jeffrey Greenberg would step down.
– John Leonard
Research Analyst, SNL Financial, www.snl.com/insurance/
Was this article valuable?
Here are more articles you may enjoy.
Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid 
Uber Jury Awards $8.5 Million Damages in Sexual Assault Case 
Allstate CEO Wilson Takes on Affordability Issue During Earnings Call 
Maine Plane Crash Victims Worked for Luxury Travel Startup Led by Texas Lawyer From This Issue
