Marsh McLennan News

Marsh McLennan CEO Glaser to Retire; Doyle to Take the Reins in 2023

Marsh McLennan said today that John Q. Doyle will take over as president and CEO effective January 1, at which point current CEO Daniel S. Glaser will retire. Doyle, 58, was promoted to group president and chief operating officer of …

People Moves: MMC Names Jones, Hageman to Senior Posts; Lockton Welcomes Marsh’s Millett for Innovation; Applied Financial Builds Cyber Risk Team

Marsh McLennan Creates New Senior Leadership Positions Marsh McLennan announced the appointment of John Jones as chief marketing and communications officer and Pat Hagemann as chief of staff to the chief operating officer. Jones will lead Marsh McLennan’s new marketing …

ESG, Invasion of Ukraine Focus of Marsh McLennan Earnings Call

Much attention was paid to ESG (environmental, social, and governance) issues and the Russian invasion of Ukraine as Marsh McLennan reported the highest first-quarter underlying growth in more than 20 years. First quarter net income attributable to the company was …

Marsh McLennan Commits to Net-Zero Across Operations by 2050

Marsh McLennan announced its commitment to set and execute low-carbon transition strategies that chart a path to net-zero across its operations by 2050 and reduce its emissions by 50 percent by 2030. The company will also set an emission reduction …

London Insurance Brokers Probed for Bribery and Corruption by UK Serious Fraud Office

A handful of London insurance firms are being investigated for bribery and corruption by the UK’s Serious Fraud Office, according to people familiar with the probe. The fraud cops are examining the way firms, including Marsh & McLennan Cos.’ Jardine …

Insurers, Brokers Among Those Named World’s Most Ethical Companies

Two property and casualty insurers and two brokers were included within a list compiled by Ethisphere of the most ethical companies in the world. The 16th annual report from Ethisphere, a company that defines and measures corporate ethical standards and …

Update: Marsh McLennan to Exit Businesses in Russia; Aon Suspends Operations

Marsh McLennan, the world’s largest insurance broker, said on Thursday it would exit all of its businesses in Russia, while its rival Aon suspended operations in the country. “We intend to transfer ownership of our Russian businesses to local management …

Update: Marsh McLennan Q4 Net Income Jumps 100%; 6,000 Employees Added in 2021; Cyber Still Growing

Fourth quarter 2021 net income at Marsh McLennan more than doubled compared to the same period in 2020, to $803 million. Full year net income increased about 56% to $3.1 billion from $2 billion for all of 2020. Net income …

People Moves: Lezaj to Lead Zurich Complex Casualty; MMC Names Bouchard as Climate Director

Lezaj to Lead New Zurich Middle Market Complex Casualty Unit Zurich North America has created a Complex Casualty unit to support its customers in the upper middle-market segment. Steve Lezaj, a veteran insurance executive, has been appointed to lead this …

Marsh McLennan Acquires Texas-Based Insource

Marsh McLennan Agency, a subsidiary of Marsh, has acquired InSource Insurance Group LLC, an independent agency in Texas. Terms of the acquisition were not disclosed. InSource Insurance Group was formed in 1986 to provide business insurance, employee health and benefits, …