History
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 1997, the company bought Johnson & Higgins and Sedgwick shortly after.
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. after it settled charges of market timing.
Read more about this topic: Marsh & Mc Lennan Companies
Famous quotes containing the word history:
“No event in American history is more misunderstood than the Vietnam War. It was misreported then, and it is misremembered now.”
—Richard M. Nixon (b. 1913)
“History does nothing; it does not possess immense riches, it does not fight battles. It is men, real, living, who do all this.... It is not “history” which uses men as a means of achieving—as if it were an individual person—its own ends. History is nothing but the activity of men in pursuit of their ends.”
—Karl Marx (1818–1883)
“Let us not underrate the value of a fact; it will one day flower in a truth. It is astonishing how few facts of importance are added in a century to the natural history of any animal. The natural history of man himself is still being gradually written.”
—Henry David Thoreau (1817–1862)