CEO Michael Cherkasky

NEW YORK (Reuters) - A federal appeals court has restored part of a nationwide class-action lawsuit accusing dozens of insurers and brokers of conspiring to rig the insurance market.The ruling is a partial victory for policyholders, including employee benefit plan sponsors, that had accused the insurance industry of scheming to drive up prices. However, only portions of the case will be allowed to move forward.In a 200-page opinion, the U.S. Third Circuit Court of Appeals in Philadelphia...Read Full Story

Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:NYSE:Marsh & McLennan Cos., down 42 cents at $20.57Marsh & McLennan is selling its risk consulting subsidiary Kroll Inc. to Altegrity Inc., bringing Kroll under private equity ownership.CVS Caremark Corp., down $2.75 at $31.04Drugstore chain Walgreen Co. will end its relationship with competitor CVS Caremark's pharmacy benefits management business.Dr Pepper Snapple Group Inc., down...Read Full Story

Home > News > National News > Aug 2010 National News August 3, 2010 E-mail Print Article Reprints Global insurance broker Marsh's revenue in the second quarter of 2010 rose 9 percent to $1.2 billion from the same period in 2009. Revenue growth in international operations was 6 percent, reflecting 3 percent growth in Europe, the Middle East and Africa, 12 percent in Asia Pacific and 13 percent in Latin America. Marsh reported strong growth in new business in the quarter...Read Full Story

NEW YORK (Reuters) - Marsh & McLennan Cos Inc <MMC.N> said on Monday that it plans to sell Kroll, a risk consulting firm, to Altegrity in a $1.13 billion deal.Kroll, put up for sale by the No. 2 global insurance broker MMC, attracted interest from a number of private equity firms, with Altegrity emerging as the winner.Altegrity, which is owned by Providence Equity Partners, plans to acquire Kroll in an all-cash transaction. The deal is expected to close by late September.The Financial Times...Read Full Story

Marsh & McLennan is selling its risk consulting subsidiary Kroll Inc. for $1.13 billion to Altegrity.The companies announced the all-cash transaction before markets opened Monday.The deal is expected to close by late September, subject to regulatory approval and other conditions.Kroll is a 3,000-employee subsidiary of Marsh & McLennan Cos., the publicly traded owner of the insurance brokerage Marsh as well as other risk and consulting subsidiaries, including Mercer.Kroll's buyer, Altegrity...Read Full Story

NEW YORK (Reuters) - Two former Marsh & McLennan Cos executives, whose criminal convictions in an insurance bid-rigging scheme were thrown out, sued their former employer, accusing it of depriving them of stock bonuses and severance.In a lawsuit filed on Wednesday in Manhattan federal court, plaintiffs William Gilman and Edward McNenney said the New York-based company has wrongfully withheld the payouts after having fired them without cause in the fall of 2004.The complaint does not specify...Read Full Story

Marsh & McLennan says it returned to profitability in the second quarter thanks to growing revenue across all its major businesses.The insurance brokerage and consulting company also avoided major impairment charges that led to a loss during the second quarter last year.Second-quarter results include Kroll, a risk consulting subsidiary Marsh & McLennan agreed to sell in June for $1.13 billion. The deal is expected to close this week.Marsh & McLennan reported net income of $236 million, or 43...Read Full Story

Home > News > East News > Jun 2010 East News June 17, 2010 E-mail Print Article Reprints New York City-based Kornreich-NIA has hired Michael A. Salvadore as vice president of business development. Salvadore has 16 years experience in risk management, property and casualty insurance and employee benefits, and he has held posts at Willis, Allied North America and Aon. He specializes in helping financial institutions, private equity firms, real estate developers and...Read Full Story

April 24 (Reuters) - Marsh & McLennan will take a minority stake in Bermuda-based insurance asset manager Juniperus Capital, which specializes in catastrophe bonds and other capital markets insurance... < Prev   Next >Read Full Story

HONG KONG–16 Feb–PRNewswire-Asia/InfoQuest Mercer and Marsh today announced that they have established a new brand for international markets outside the United States, Mercer Marsh Benefits(TM). This new brand, featuring benefits brokerage and consulting capabilities, has been established to address employee benefit cost growth around the world and to reflect the global collaborative expertise and resources that Mercer and Marsh can bring together to solve this client issue. “Mercer Marsh...Read Full Story