MMC Company Profile

RISK AND INSURANCE SERVICES. MMC's risk and insurance services are provided by its subsidiaries and their affiliates as broker, agent or consultant for insureds, insurance underwriters and other brokers on a worldwide basis in the areas of:

o risk management and insurance broking,

o reinsurance broking and services, and

o related insurance services.

INVESTMENT MANAGEMENT. Investment management and related services are provided by Putnam Investments Trust and its subsidiaries. Putnam has been engaged in the investment management business since 1937, with its principal offices in Boston, Massachusetts. Putnam also has offices in London and Tokyo. Putnam provides individual and institutional investors with a broad range of both equity and fixed income investment products and services, invested domestically and globally.

CONSULTING. Through Mercer Inc., subsidiaries and affiliates of MMC, separately and in collaboration, provide consulting and related services from locations around the world, primarily to business organizations, in the areas of:

o Retirement Services including retirement consulting, administration
and investment consulting;

o Health Care & Group Benefits consulting;

o Human Capital consulting including performance, measurement and
rewards, communication and HR technology & operations consulting;

o Management and Organizational Change consulting comprising strategy,
operations, organizational change, leadership and organizational
design; and

o Economic consulting.

MMC encounters strong competition in the risk and insurance services business from other insurance brokerage firms which also operate on a nationwide or worldwide basis, from a large number of regional and local firms in the United States, the European Union and in other countries and regions, from insurance and reinsurance companies that market and service their insurance products without the assistance of brokers or agents and from other businesses, including commercial and investment banks, accounting firms and consultants that provide risk-related services and products.

MMC Capital competes with other organizations that set up private equity funds to structure and manage investments in the insurance industry.
These organizations include insurance companies, brokers and other market participants.