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Best's Review presents its second annual global insurance-brokers ranking by revenues, with in-depth looks at leading firms' results and strategies.While Marsh and Aon held their respective rankings of one and two, Lockton Cos. Inc. took a big jump in the Top 20 by moving from No. 14 to No. 10 due to its acquisition of Alexander Forbes International Risk Services. However, Aon outranked Marsh in brokerage revenues in 2006.
1. Marsh & McLennan Cos.
Revenues 2006: $11 .g billion
Revenues 2005: $11.7 billion
Brokerage Revenues 2006: $5.3 billion
Brokerage Revenues 2005: $5.4 billion
Top Executive: Michael Cherkasky, President and Chief Executive Officer
1166 Avenue of the Americas, New York, New York 10036
Phone:212-345-5000
Fax:212-345-4808
www.marshmac.com
Trading symbol: MMC
Top Lines: Commercial
Developments in 2006: Results were affected by stock option expense in each segment for the full year. Continued to see restructuring savings and charges under restructuring plans; sold Sedgwick Claims Management Services, Price Forbes (its U.K.-based wholesale brokerage business), and Kroll security International.
2. Aon Corp,
Revenues 2006: $9.0 billion
Revenues 2005: $9.8 billion
Brokerage Revenues 2006: $5.6 billion
Brokerage Revenues 2005: $5.4 billion
Top Executive: Greg case, President and Chief Executive Officer
200 East Randolph St., Chicago, Illinois 60601
Phone:312-381-1000
Fax:312-701-3080
M/Mw.aon.com
Trading symbol: AOC
Top Lines: Financial services; directors and officers; errors and omissions; commercial property; commercial casually
Developments in 2006: Aon became the world's No. 1 insurance broker based on broker revenues. Company continued deployment of its global sales database, replacing more than 27 systems around the globe. Made more than $150 million worth of acquisitions.
Strategy for 2007 & 2008: Continue to measure success against operating plan built around three specific objectives: delivering distinctive client value, strengthening Aon's talent and achieving operational excellence. Continue to realize the savings from companywide restructuring program. Continue to rationalize costs while making major investments in the business.
3. Willis Group Holdings Ltd.
Revenues 2006: $2.4 billion
Revenues 2005: $2.3 billion
Brokerage Revenues 2006: $2.3 billion
Brokerage Revenues 2005: $2.2 billion
Top Executive: Joseph J. Plumeri, Chairman and Chief Executive Officer
10 Trinity Square, London, United Kingdom
Phone: (44-20) 7488-8111
www.willis.com
Trading symbol: WSH
Top Lines: Commercial; reinsurance; construction; aerospace; energy; financial and executive risks; employee benefits; health care; niche; environmental
Developments in 2006: Held...