Marsh & McLennan Companies, Inc. ("MMC"), is a global professional
services firm with origins dating from 1871 in the United States. MMC is the parent
company of various subsidiaries and affiliates that provide clients with analysis,
advice and transactional capabilities in the fields of risk and insurance services,
investment management and consulting.
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.