CEO Michael Cherkasky

When insurance broker Marsh & McLennan came under investigation for bid rigging in 2004, its share price lost half its value. Now, some investors in the company will get some of their money back. The company announced today it will pay $400 million to settle a lawsuit, led by pension funds in New Jersey and Ohio. The firm earlier negotiated an $850 million settlement with the State of New York, which brought the first case. Ohio Attorney General Richard Cordray says today's settlement holds Marsh accountable for its wrongdoing and requires the company to compensate investors for their injuries. "Through violations of securities laws, ... Read Full Story

NEW YORK (Reuters) - Three former Marsh Inc executives were acquitted on Monday of criminal charges in a bid-rigging and price-fixing scheme in which they were accused of colluding to steer clients to favored insurers. Joseph Peiser, who led Marsh's excess casualty unit, and brokerage executives Greg Doherty and Kathleen Drake were found not guilty by Justice James Yates of the New York State Supreme Court in Manhattan of scheming to defraud and antitrust charges, lawyers for Peiser and Drake said. The defendants were among eight former Marsh executives indicted in September 2005 as part of a price-fixing probe conducted by Eliot Spitzer, then ... Read Full Story

Marsh & McLennan says it returned to profitability in the third quarter amid an improvement in its risk and insurance services division and declining expenses. The New York-based insurance broker and consulting firm was able to slash costs faster that its revenue declined during the quarter. Marsh & McLennan earned $221 million, or 41 cents per share, during the quarter ended Sept. 30. It lost $8 million, or 2 cents per share, during the same period last year. Analysts polled by Thomson Reuters, on average, forecast earnings of 26 cents per share on revenue of $2.6 billion. Marsh & McLennan's revenue fell to $2.52 ... Read Full Story

Less than a month ago insurance broker Marsh & McLennan CEO Brian Duperreault announced that he was going on a buying spree for acquisitions that. Read Full Story

NEW YORK (Reuters) - Marsh & McLennan Cos Inc <MMC.N>, the No. 2 global insurance broker, reported a second-quarter net loss on Wednesday, hurt by a writedown of the value of its security consulting business. Excluding one-time items, it posted a profit that matched the average Wall Street forecast. The net loss was $193 million, or 37 cents a share, compared with a year-earlier profit of $65 million, or 12 cents a share, which also included a charge. Excluding special items, it earned 33 cents a share, in line with analysts' expectations, according to Reuters Estimates. The broker said it wrote down the value ... Read Full Story