Burrows, Marsh & McLennan was formed by Henry W. Marsh and Donald R. McLennan in Chicago in 1905, becoming the world's largest insurance agency with annual premiums of $3 million ($59 million consumer price index adjusted). It was renamed Marsh & McLennan in 1906.
In August 2007, Marsh completed the sale of its
Putnam Investments division to Great-West Lifeco Inc., a financial services holding company controlled by Canada-based Power Financial Corp.Marsh Inc. is a global risk and insurance services firm. It is a subsidiary of MMC. In 2003, Marsh employed about 40,000 people, with annual revenues of $6.9 billion, up from $4.8 billion in 2001.
Marsh operates by collecting advisory fees from its clients — mainly large corporations but also small and mid-size businesses, municipal governments, school districts and some individuals — in exchange for locating property and casualty insurance coverage for them. At all relevant times, the Company stated that its "guiding principle is to consider (its) clients' best interests in all placements," and that it "(does not) represent the (companies)" and held itself out as a "trusted adviser and advocate, in effect representing their best interests in the market place."
On September 11, 2001, 295 employees & 60 contractors were killed in the terrorist attacks; they were working in Marsh's One World Trade Center offices located in the heart of the impact zone.
We currently have the following pieces in our inventory that were issued to this historic firm: