Marsh & McLennan Companies Inc. is a holding company for insurance and reinsurance brokerages, risk management services firms and strategy and management consulting firms. The company's largest business, the risk and insurance division, includes its core Marsh Inc. insurance brokerage business and Guy Carpenter unit. It is one of the largest insurance brokerages in the world.
The company went through significant retooling in 2007 when it laid off a third of its branch managers and restyled its main insurance brokerage unit, Marsh LLC, as a risk adviser and insurance provider.
The company exited the investment management business in 2007 when it sold its Putnam Investments subsidiary to Great-West Lifeco, a subsidiary of Power Financial Corp., for $3.9 billion.