2 Apr 2012 07:00
Marsh & McLennan Companies, Inc. (NYSE: MMC), a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital, today announced that its President and CEO Brian Duperreault has been named Chairman of the Federal Advisory Committee on Insurance (FACI). Mr. Duperreault's appointment was confirmed today by Federal Insurance Office (FIO) Director Michael McRaith at the Committee's first meeting.
FACI was formed by the U.S. Department of Treasury to provide advice to the FIO, which was created under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Appointments to the 15-member FACI, the first such Committee of its kind in U.S. history, were announced by the Treasury in November 2011. FACI comprises insurance industry experts from business, academia, and consumer advocacy groups, as well as seven State insurance regulators.
Drawing on their combined knowledge, regulatory experience and diverse industry perspectives, Mr. Duperreault and fellow members of FACI will meet several times a year to develop recommendations that will aid FIO in carrying out its duties and authorities. FIO monitors all aspects of the insurance industry and advises the Secretary of the Treasury on major domestic and prudential international insurance policy issues.
"I am honored to have been appointed Chairman of the Federal Advisory Committee on Insurance, and look forward to working with my fellow members to help the Federal Insurance Office serve the public with informed recommendations on issues facing the industry," said Mr. Duperreault.
Mr. Duperreault is an insurance industry veteran who, over the span of his nearly 40-year career, has held top leadership roles at the industry's most prominent firms. Prior to his current role, he was Chief Executive Officer of ACE Limited and a member of that company's Board of Directors. Mr. Duperreault also served in senior executive positions with AIG and its affiliates. In 2011, he was inducted into the International Insurance Society's Hall of Fame.
ABOUT MARSH & McLENNAN COMPANIES
MARSH & McLENNAN COMPANIES (NYSE: MMC) is a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. MARSH is a global leader in insurance broking and risk management; GUY CARPENTER is a global leader in providing risk and reinsurance intermediary services; MERCER is a global leader in human resource consulting and related services; and OLIVER WYMAN is a global leader in management consulting. Marsh & McLennan Companies' 52,000 colleagues worldwide provide analysis, advice and transactional capabilities to clients in more than 100 countries. The Company prides itself on being a responsible corporate citizen and making a positive impact in the communities in which it operates. Visit www.mmc.com for more corporate information, or www.PartneringImpact.com to learn more about the Company's world-class capabilities and its solutions to the complex problems enterprises face today.
Marsh & McLennan CompaniesMedia:Laura Cora, +1 212-345-2731laura.cora@mmc.comorInvestors:Scott Douglas, +1 212-345-5488scott.d.douglas@mmc.com
Copyright Business Wire 2012