Marsh is a global leader in insurance broking and innovative risk management solutions, Marsh’s 30,000 colleagues advise individual and commercial clients of all sizes in over 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue over US$14 billion and nearly 65,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading firms. In addition to Marsh, MMC is the parent company of Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.
The History of Marsh
Marsh has a rich heritage, spanning 145 years. Over our long and distinguished history, we have built up an incredible knowledge base to address tomorrow’s most challenging risks.
Under the name Marsh & McLennan Companies, Marsh has existed since 1871 and has been a pioneer in risk and insurance services for more than 140 years. Throughout, we have demonstrated our industry leadership in numerous ways.
- We introduced the concept of the insurance broker acting as a buyer of insurance on behalf of clients, rather than as a seller of insurance. Today, we continue to add new value for clients through innovative insurance programmes and efficient placement processes.
- We pioneered the concept of self-insurance, with associated risk management actions to mitigate exposures.
- We were the first broker to send risk experts to a catastrophe site - San Francisco in the aftermath of the earthquake. We are leaders today in evaluating catastrophe risk for clients and using the latest catastrophe modelling techniques.
- We arranged the first 'space-bound' life insurance coverage for Mercury astronauts. Currently, Marsh has the largest Aviation account world-wide.
- We introduced a suite of merger and acquisition solutions covering tax opinions, representations and warranties, and litigation buyouts to facilitate transactions and enhance their value. In 2005, our market-leading Private Equity and Mergers & Acquisitions (PEMA) Practice were advisers to over 400 deals in Europe.
Marsh conducts business consistent with the highest ethical and professional standards and will not tolerate behaviour that deviates from those standards. We will act with integrity, honesty, courage and mutual respect.
We would like to highlight our Company's strong commitment to operating with a culture of the highest ethical standards and to restate our opposition to acts of bribery and corruption, whether committed by us or anyone associated with us.
The Greater Good, Marsh & McLennan Companies' Code of Conduct, is a significant part of Marsh's culture and makes clear that we expect our colleagues to behave with integrity at all times. The Code says:
"We will conduct business consistent with the highest ethical and professional standards and we will not tolerate behaviour that deviates from those standards. We will act with integrity, honesty, courage, and mutual respect."
The subject of bribery and corruption remains high profile globally, while at home our regulator continues to act against those firms which lack the appropriate controls.
Whether we are working with a client, colleague, or supplier, any actual or perceived acts of bribery would be seriously detrimental to our business and counter to our expected behaviour as set out inThe Greater Good.
Our obligations extend more widely than simply refusing to offer or accept a bribe. We must all be transparent and reasonable when giving or receiving gifts and entertainment, and convey our expectations to any third party with whom we do business that they are to uphold the same standards of anti-bribery and corruption when working on our behalf.
By being mindful of the clear ethical standards in The Greater Good and the anti-bribery and corruption guidance and training issued to all Marsh colleagues, we should all be clear about the Company's expectations and reduce the risks of bribery and corruption.
All our colleagues and clients are invited to read our Code of Conduct, The Greater Good.