CORPORATE

CITIZENSHIP REPORT

2010
acting on our
commitmentS to
clients, colleagues
and communities
OUR COMPANY AT A GLANCE

Marsh & McLennan Companies is a global professional services firm providing advice and solutions in
the areas of risk, strategy and human capital. It is the parent company of a number of the worlds leading
risk experts and specialty consultants, including MARSH, GUY CARPENTER, MERCER and OLIVER WYMAN.
With 51,000 colleagues worldwide and annual revenue exceeding $10 billion, our companies provide
analysis, advice and transactional capabilities to clients in more than 100 countries.
RISK AND INSURANCE SERVICES

Marsh is the worlds leading insurance broker and risk management
advisor. It teams with clients to define, design and deliver innovative
industry-specific solutions that help them protect their future and
thrive. Its colleagues collaborate globally to provide advice and
transactional capabilities, helping clients in managing risk for growth.
Colleagues About 25,000
Revenue Contribution IN 2010 45%
www.marsh.com
CONSULTING
Guy Carpenter is the worlds premier reinsurance intermediary
and strategic advisor to leading insurance and reinsurance
organizations. It delivers integrated solutions through its
industry-leading analytics and advisory services, highly
specialized product knowledge and trading relationships with
reinsurance markets around the world.
Colleagues About 2,000
Revenue Contribution IN 2010 9%
www.guycarp.com

Mercer is a global leader in human resource consulting, outsourcing
and investment services. Mercer works with clients to solve their
most complex benefit and human capital issues by designing,
implementing and administering health, retirement and other
benefit programs. Mercers investment services include investment
consulting, implemented consulting and multi-manager investment
management.
Colleagues About 20,000
Revenue Contribution IN 2010 33%
www.mercer.com
Oliver Wyman Group delivers advisory services through three
operating units, each a leader in its field. Oliver Wyman is a
global management consulting firm that combines deep industry
knowledge with specialized expertise in strategy, operations,
risk management, organizational transformation and leadership
development. NERA Economic Consulting provides economic
analysis and advice to public and private entities. Lippincott is a
brand strategy and design consultancy.
Colleagues About 3,400
Revenue Contribution IN 2010 13%
www.oliverwyman.com

Our businesses are supported by our colleagues in Marsh & McLennan Companies corporate functions.

Economic Performance 2010 2009 2008 TABLE OF CONTENTS

(in millions, except employees)
Revenue $10,550 $ 9,831 $10,730 Message From The CEO 1
COMPENSATION AND BENEFITS $ 6,465 $ 6,182 $ 6,830 A Global Company, A Global Citizen 2
OTHER OPERATING EXPENSES $ 3,146 $ 2,871 $ 3,221 Our Business 4
STOCKHOLDERS EQUITY $ 6,415 $ 5,863 $ 5,760 Our Work With The Environment 6
DIVIDENDS PAID $ 452 $ 431 $ 412 Our Work With Communities 10
NUMBER OF EMPLOYEES 51,000 49,000 50,100
Our Work With People 14
Source: Marsh & McLennan Companies
Form 10-K, December 31, 2010
About This Report 21
MESSAGE
FROM THE CEO
CORPORATE CITIZENSHIP at Marsh & McLennan Companies encompasses the many ways
we interact with our clients, our colleagues and the communities in which we live and work.
It comprises the following:
Environmental Sustainabilityour wise use of resources
Corporate Social Responsibilityour actions in communities and our employees
involvement in these efforts
Peopleour commitment to fostering a high-performing, inclusive workplace built on a
foundation of excellence, respect and integrity

Were very proud of our efforts in each of these areas at the individual, local, national and,
increasingly, global levels. Our desire to protect environmental resources drives our own
actions and inspires our work with clients who face similar challenges. We have a strong
record of supporting communities and people at risk. Our people give generously of
their time, their professional expertise and their resources. We support a wide array of
organizations in the areas of health, education, the environment, and arts and culture.
And we hold ourselves to the very highest standards of business ethics and integrity.

While this report represents the first comprehensive summary of our corporate citizenship
activities, the values and ideals represented here are key elements of a corporate legacy
that can be traced back more than a century. Were gratified by our efforts and our progress
in the areas noted above. At the same time, we acknowledge that our clients, colleagues
and communities face growing social, environmental and professional challenges. We will
continue to do our part to address and provide solutions to these challenges.

I am proud to present you with this summary of our ongoing efforts. We encourage you to
share your thoughts and comments with us.

Brian Duperreault
President and CEO
Marsh & McLennan Companies

May 31, 2011

A GLOBAL COMPANY
A GLOBAL CITIZEN

Colleagues from our

Milwaukee offices created
a career seminar on the
Our offices in Chicago and
insurance industry for interns
Atlanta achieved LEED
from Howard University.
Gold certification.
GLOBAL REVENUE BY REGION

2001 Marsh & McLennan Companies

received a 100 percent rating
in the Corporate Equality
Index of the Human Rights
70% United States
Campaign Foundation.
3% Canada
2% Asia Pacific Our Operating
2% Latin America & Other Companies in Mexico
won the prestigious
7% Continental Europe
Socially Responsible
16% United Kingdom Enterprise designation
from the Mexican
Center for Philanthropy.
Marsh colleagues in So
Paulo and surrounding
cities collected goods
for Brazilians affected by
2010 landslides and flooding
during 20092011.

44% United States

7% Canada
10% Asia Pacific
6% Latin America & Other
17% Continental Europe
16% United Kingdom

Marsh & McLennan Companies

Correspondent
Our London office at
Tower Place is a zero
waste-to-landfill facility.

Our Asia Pacific

regions focus on
gender diversity led
women in Mercer
Mercer sponsors the India to form a
European Professional network promoting
Womens Network in career development.
Oliver Wyman Group
13 countries. developed a five-year
strategic vision for Room Guy Carpenters
to Read in South Asia. Asia-Pacific
Climate Impact
Centre published
its first annual
report.

Marsh Environmental
Services developed
sustainability strategies
for a diamond mining
company in Botswana.

Colleagues in Melbourne
and Sydney held town
halls that included
colleague engagement,
diversity and inclusion
topics.
OUR BUSINESS
Our intention is to build Marsh & McLennan Companies into an elite
business enterprise valued by our clients, our colleagues and our
shareholdersand weve articulated a growth strategy for the firm that
will help us realize this aspiration.

Our Strategy
Our firms growth strategy is the underpinning of our long-term goal to position Marsh & McLennan Companies as
an elite business enterprise. Our focus is on four strategic pillars designed to create exceptional value and superior
returns for investors:

Consistent, long-term growth: We will seek to achieve sustained growth in revenue and
1 earnings per share.

Low capital requirements: Low capital usage will continue to be one of our Companys key operating
2 principles. We will not acquire or develop businesses that require significant capital investment.

High cash generation: Maintaining earnings quality is fundamental to our future success, and we will
3 seek to consistently generate significant cash to fund acquisitions, investments and dividends.

Low risk profile: We will continue to focus on minimizing and managing operational risk. In 2010, we
4 appointed a Chief Risk Officer for the firm and revamped our approach to enterprise risk management.

Achieving our aspiration is only possible with committed, motivated colleagues. Accordingly, we focused on colleague
engagement as a key internal priority during 2010 and are continuing that emphasis in 2011.

Additionally, we will continue to unlock the potential value of the firm by working more effectively across our individual
businesses to weave the Company together. We believe we can leverage our global scale to realize cost efficiencies and
also capitalize on adjacencies between our companies to create revenue opportunities.

Telling our story

We have reinstituted the corporate name Marsh & McLennan Companies. In returning to a name from the past,
we are conveying something new through a revitalized look and feel for the Company.

We believe no other firm can match the breadth of our portfolio, the depth of our expertise and the strength of
our commitment to creating lasting partnerships with clients. Through a highly focused approach that leverages
our most important assetour peoplewe will tell our story in the marketplace and reinforce our position as a
preeminent global team of professional services companies.

4 OUR BUSINESS
 moving
forward
in 2011
Educate and train
Corporate governance 100 percent of
The Marsh & McLennan Companies Board of Directors and Executive Committee are
employees in our new
committed to the very highest standards of corporate governance, business integrity
and professionalism. The leadership provided by our Board and the responsible
Code of Conduct
governance of our organization provide a foundation of operational excellence and Roll out our new
accountability for the way we do business. We believe that transparent communication branding strategy
of our governance procedures helps our stakeholders assess the quality of our Company
and its management.
www.mmc.com/about/governance
Code of
Conduct
Public policy We introduced a best-in-class Code of
Our Government Relations Group, established in 2008, advocates for the firms legislative Conduct, entitled The Greater Good, to
and regulatory interests and advances the interests of our shareholders. We meet with address the greatest area of exposure that we
legislators and policy makers to express our Companys viewpoints on issues that affect face as a professional services firm: human
our industries, and we share our expertise in a variety of areas, including health care, risk. Our new Code of Conduct, available in
retirement security and financial services. Our activities during 2010 centered on legislative 23 languages, sets forth our expectations
developments in the United States, specifically the Dodd-Frank Wall Street Reform and for ethical behavior and integrity. We have
Consumer Protection Act and the Patient Protection and Affordable Care Act (PPACA). Both taken the broad concepts articulated in our
of these bills carry the potential to impact our business and our clients interests as well. vision and values and created a detailed
road map for colleagues to follow. It contains
We are pleased that the Dodd-Frank provisions on surplus lines and corporate governance explicit business standards that help elimi-
disclosure requirements do not disadvantage our industry sectors. Oliver Wyman nate uncertainty and avert misconduct by
continues to work with clients to understand the impact of Dodd-Frank on a range of areas. providing guidance for proper behavior. Our
In particular, Oliver Wyman has conducted sophisticated economic analysis for leading new Code emphasizes the importance of
financial services trade associations. raising concerns.

During the development of PPACA, we worked to ensure that the bill would preserve the We are implementing the Code with face-
employer-based health care insurance system. This bill requires extensive rule making, and to-face and online training and a unique
we continue to remain involved in its implementation at both the state and federal levels. documentary film, Faces of Marsh & McLennan
Given our clients broad interests in the health care industry, PPACA has created strong Companies. The film elicits a strong emotional
demand for the services of Marsh, Mercer and Oliver Wyman. response from its audience, emphasizes
the importance of the work we do around
As we are a U.S.-based corporation, American tax policy has a significant impact on our the world and the individual responsibility
business globally. Thus, we will continue to advocate for a corporate tax system that is each of us has to do it right. At the request of
equitable to service companies, more consistent with average tax rates and flexible with our colleagues, training will be conducted
regard to the global movement of capital. predominantly in person by managers. This
learning and education will also become part
of the on-boarding process for new hires.
www.mmc.com/about/code

OUR BUSINESS 5
OUR WORK
WITH THE ENVIRONMENT
We are committed to reducing our environmental impact and providing an
environmentally conscious workplace for our colleagues. In addition, we
provide a growing range of products and services designed to assist our
clients with the challenges of sustainability.
Marsh & McLennan Companies commitment to environmental sustainability is a core corporate principle which has
guided our business conduct and influenced our strategic and operational decisions for many years. Recognizing
the growing environmental threats, we have elevated this principle as an integral part of our business agenda on two
levels. We are accelerating our adoption of environmentally friendly policies and practices in our own operations. And
we continue to provide an extensive array of new and existing environmental risk management solutions to assist our
clients in analyzing, reducing and managing their own environmental impact and risks.

Developing infrastructure
To manage our increasing efforts in environmental sustainability, we created the position of Corporate Sustainability
Officer (CSO). In partnership with representatives from each Operating Company as well as our support groups
(Procurement, Real Estate, Corporate Travel and Technology), the CSO is responsible for the development of short-
and long-term sustainability strategies, including the tracking of solutions designed to assist clients in identifying
sustainability risks. The CSO meets regularly with the Board-level Corporate Responsibility Committee.

Our sustainability strategy

Our sustainability program has three components:
Reduce the sustainability impact of our own activities
Provide our colleagues with an environmentally conscious workplace
Provide our clients with the expertise, advice, products and solutions that help them with their own sustainability
challenges, and to support them with opportunities where environmental issues are present
www.mmc.com/sustainability

Reducing our environmental impact

At the Marsh & McLennan Companies corporate services level, we have begun to effect real change to reduce the
environmental impact of our own activities. For example, with a global real estate portfolio of roughly 550 offices in
nearly 80 countries, we recognized that a significant reduction in our carbon footprint could result by making even small
changes in the size of our portfolio. As such, we have reduced our real estate footprint by almost 20 percent since 2006.
In the procurement of products, we focus on better understanding our supply chain to identify and acquire products that
will not jeopardize the environment. We also confirm that our suppliers are committed to providing products that are
environmentally safe and affordably priced. Our technology group has also introduced sustainability at all stages of the
technology lifecycle: procurement, installation, operation and disposal.

6 OUR WORK WITH THE ENVIRONMENT

 As part of Hands on New York Day,
Marsh & McLennan Companies
colleagues helped restore a
section of St. Nicholas Park
in upper Manhattan. This
annual springtime event helps
transform the citys parks,
community gardens and green
spaces for summer.

Saving energy
Carbon audit
We are reducing our overall energy consumption in offices around the world by using
ENERGY STAR-rated equipment where possible, downsizing and consolidating technology in the U.K.
devices, implementing smart lighting solutions and educating colleagues. In addition, our
Global Technology Infrastructure group continues to identify effective and efficient energy- Our Operating Companies in the
reduction solutions for our data centers. United Kingdom have taken the lead in
implementing environmentally sustainable
policies and processes. Our principal U.K.
Green on the go facilities have implemented a wide range of
Managing a global clientele is an essential component of our business model, but were taking programs following an audit by the Carbon
incremental steps to more effectively measure and manage travel at Marsh & McLennan Trust, a nonprofit organization created by
Companies. Global Travel has consolidated our North American and U.K. travel services, and has the U.K. government to help businesses
an external partner who provides global reporting metrics. We plan to move all regions over to reduce their carbon footprint. Many of these
this new program, further improving the accuracy of our emissions data from business travel. To actions resulted in the implementation
aid colleagues in determining when internal travel may not be necessary, we are improving our of sustainable practices, while others
training program for the roughly 150 video conferencing systems available worldwide. promoted communication, performance
measurement and data collection.

Taming the paper giant

Curtailing paper use is at the forefront of our many efforts to reduce consumption and waste.
Double-sided print, now standard in U.S. offices, is expected to decrease our annual U.S.
paper consumptionapproximately 240 million pagesby 15 percent and will be rolled out
to all regions during 2011. We have also instituted paperless travel and expense processing
as well as electronic invoicing and payment processing in some of our Operating Companies.
While we work to minimize large scale print jobs, when it is required we utilize print suppliers
that are Forest Stewardship Council (FSC) certified, participants in mill reforestation
programs and users of recycled papers and nonpolluting inks.

Greater transparency
Recognizing the importance of the transparency of our actions and outcomes, we are
moving toward greater public disclosure. Since 2006, we have responded to the Carbon

OUR WORK WITH THE ENVIRONMENT 7

 reducing
Disclosure Project (CDP), voluntarily measuring and disclosing our greenhouse gas
our real
estate
emissions and sustainability strategy. The CDP is an independent, nonprofit organization
holding the largest database of primary corporate climate change information in
the world. Approximately 3,000 organizations in some 60 countries measure and
disclose their greenhouse gas emissions and climate change strategies through CDP.
We are communicating our accomplishments in other ways as well, including greater
portfolio
environmental content on our external website and colleague intranet, focused
colleague messaging, more comprehensive responses to client questions and more Year Reduced by
frequent disclosure to the media.
2007 5.45%
As a result of our increased public disclosure initiatives, Marsh & McLennan Companies
ranked 78th in the Newsweek 2010 Green Rankings of the 500 largest U.S. companies, also 2008 3.08%
ranking eighth out of 39 entries in the Banks and Insurance sector.
2009 7.84%

Building an environmentally CONSCIOUS workpLace 2010 4.48%

We have adopted several policies to strengthen the environmental attributes of our
office spaces. They include the following:

Seek longer lease periods (10+ years) or strive to renew existing leases to minimize
construction waste, implementing either approach where and when it makes financial
and cultural sense.
Reduce office space per employee. In 2010, our total portfolio dropped approximately
600,000 square feet despite multiple acquisitions.
Utilize environmental sustainability as a criterion in selecting new office space.
Require that all new construction projects utilize a specified set of green building
and design standards.

As an example, Gateway35, our reception, conference and dining center on the 35th floor
of our corporate headquarters in New York City, has quickly become a hub for colleagues
and client activity. The environmentally sensitive design features state-of-the-art reception
LEED
CERTIFICATION
facilities, comprehensive conference services and food sourced from local farmers or
obtained by sustainable means.

Our Chicago (pictured) and Atlanta

Engaging our colleagues offices received LEED Gold certification
Early last year, the Company introduced an environmental intranet site to capture the under the U.S. Green Building Councils
innovative work of our businesses and colleagues, while providing information and certification system for the design,
resources to them. Our goal was to provide a platform for continuing communication construction and operation of green
and to gather suggestions on the paths we might take in the future. In 2011, we are buildings. Four additional projects are
focusing heavily on colleague engagement by expanding opportunities for colleague currently pending LEED certification.
involvement and input in each office around the world. We are upgrading our intranet From a process perspective, every
to provide more availability for social networking with message boards, blogging and new project in the real estate portfolio
interactive sharing of thoughts and ideas. is reviewed for potential certification
regardless of location.

8 OUR WORK WITH THE ENVIRONMENT

 moving
Supporting our clients
forward
In response to climate change challenges, were leveraging our organization-wide
knowledge base to increase clients resilience to climate change risks and to optimize in 2011
the new economic landscape surrounding climate change.
Create a sustainability
www.mmc.com/sustainability/clients
training program for
colleagues
Marsh Implement a paper
Marsh has a history of collaborating with clients to identify, assess and manage reduction campaign to
environmental, supply chain, reputational and operational risks. Marshs highly regarded educate colleagues and
Global Environmental Practice comprises some of the best and most diverse talent in further reduce paper
the environmental risk and environmental insurance industries. Marsh specialists have consumption
conducted client work in renewable energy, green technology, waste and recycling,
water, resource extraction and green buildings. Develop a GreenTraveler
awareness program
Marsh Risk Consultings newly created Enterprise Sustainability Program helps clients
to aid colleagues in
understand and take advantage of all the dimensions of sustainability: environmental,
making sustainable
choices when traveling
social and economic. Its recent work includes projects for the U.S. Department of
is necessary
Energy, the World Wildlife Fund, a U.K. utility, and a carbon aggregator, among others.

Guy Carpenter Climate change

The Guy Carpenter Asia-Pacific Climate Impact Centre was established in 2008 to better
understand climate-related perils and catastrophic risks within the Asia Pacific region.
advice for
Research conducted includes climate studies of winter monsoons, and simulations and investors
predictions of tropical cyclones and sea-level changes in the South China Sea.
Mercer and a group of leading global
investorsrepresenting approximately
Mercer US$2 trillion in assets under management
Mercer provides a diverse array of well-established and new services to help companies launched a study to raise awareness among
identify sustainable investment and workforce opportunities. Increasingly, institutional institutional investors as to how climate
investors are realizing the importance of factoring environmental, social and corporate change might affect their asset allocations.
governance considerations into their investment decision-making and ownership The resulting report, Climate Change
practices. Mercer Responsible Investment, established in 2004, offers cutting-edge ScenariosImplications for Strategic Asset
advice to leading investors. A pioneer in its field, Mercer served as a consultant to the Allocation, was released in February 2011.
United Nations on the development of the Principles for Responsible Investment in 2006 The report analyzes the potential financial
and is a founding signatory to these principles. impact of climate change on investors
portfolios as identified through a series
of four scenarios playing out to 2030 and
Oliver Wyman outlines steps to consider in determining
Oliver Wyman works with clients to navigate sustainability issues and develop practical changes to asset allocation approaches.
solutions that balance the demands of stakeholders, customers, suppliers and
regulators. Consultants specialize in areas such as low carbon services development, Mercer teamed with the International
environmental policy and economics, and sustainable products and services innovation. Finance Corporation, a member of the World
Bank Group, the Carbon Trust, Grantham
LSE/Vivid Economics, industry practitioners
and academics in this collaborative effort.

OUR WORK WITH THE ENVIRONMENT 9

OUR WORK
WITH COMMUNITIES
Our colleagues have a long tradition of helping people and communities
at risk. We are strengthening this spirit of compassion through a more
focused, united and coordinated approach.

Creating a shared strategy and greater impact

From Melbourne to Mexico City, our colleagues are at work in their communities in many ways. Whether it be
mentoring at-risk students, assisting disaster victims, providing pro bono services to nonprofit organizations, or
raising funds for cancer research and other causes, the scope and breadth of their engagement is inspiring. In
2010, we sought to harness this energy by creating a shared strategy and global framework to unite us and help
us move forward together.

We focus our community involvement programs and initiatives on education, health and the environmentissues
that reflect the interests of our colleagues and align with our corporate strategy. As a talent-dependent business,
we recognize the risk of an insufficient pool of qualified candidates, spurring our particular interest in educational
advancement. Because we value the input of our colleagues, we surveyed more than 100 of our Companys global
community involvement coordinators during 2009 to assess the interest areas, funding levels and scope of their
community and philanthropic activities. In 2010, we began to form strategies around employee interests based on
findings of an internal colleague survey.

When considering partners, we choose those whose missions are consistent with our own and who can benefit from
our colleagues deep professional expertise. Last year, we established a partnership with Plan International, which
works to end child poverty in 48 developing countries throughout Africa, Asia and the Americas. We have a presence
in many of the countries this organization serves. Its Because I am a Girl campaignwhich promotes investment
in and the education of girls and young womenalso aligns with our emphasis on talent development and job
training. Our professionals are participating in a human capital consulting project and are developing a strategy
for microfinance and microinsurance for Plan International. During 2011, we will expand our relationship with Plan
International and explore fundraising and employee engagement opportunities with the organization.

Oliver Wyman Group supports Room to Reads educational outreach for children in Zambia
(pictured) and in other countries of the developing world.
Strengthening CSR governance
We established an enterprise-level Corporate Social Responsibility (CSR) leadership and
organizational structure to provide direction and increase collaboration across our Operating
Companies. We appointed a CSR Director who chairs our newly formed CSR Committee, Our community outreach efforts include
comprising senior leaders chosen by each Operating Company CEO as well as two Executive work with Habitat for Humanity (top), raising
awareness and support for multiple diseases
Committee-level Sponsors. The CSR Director also meets regularly with the Board-level such as Alzheimers (center) and annual
Corporate Responsibility Committee. participation in New York Cares Day (bottom).

Coordinating our giving

A primary focus of our giving is funding organizations aligned with our mission and goals.
This enables us to build our brand through meaningful partnerships. In 2010, we contributed
over US$5.7 million to roughly 1,400 nonprofit organizations focusing on education, health,
arts and culture, civic and community improvement, and the environment. Colleagues
throughout the United States raised US$125,000 and walked in support of research and
cures for many diseases. In addition, 2010 was the 17th year Oliver Wyman Group colleagues
in Boston, New York, London and Dubai have held charity auctions, raising a total of US$1
million. Through our Matching Gifts to Education program, employee donations combined
with the firms matching support provided nearly US$2.6 million to almost 800 educational
institutions across the United States and Canada. We recently launched a Charitable
Contributions Policy that will improve our ability to track charitable giving and provide
guidance concerning our contributions. During 2011, we will implement a reporting tool
that will help us measure impact as a Company and offer tools and resources for employees
globally to engage in their communities. We are also coordinating with our nonprofit
partners to develop methods to better measure the impact of the programs we fund.

In the United Kingdom, Marsh utilizes MAGIC (Matching and Giving for Involvement
with Charities) to match colleague fundraising efforts, either for the Charity of the Year
program or a charity of their choice, up to a maximum of 300 per employee per year.
Mercer and Guy Carpenter also have match-funding programs.

Encouraging employeeS to volunteer

Many of our community involvement initiatives are developed and implemented by our
Operating Companies, which draw upon their local knowledge to respond to community
needs and to create alliances. Whether initiated at the corporate level or arising from
grassroots efforts, these service programs engender a sense of community and cultivate
pride in our organization. Nearly 120 Bermuda employees partnered with Keep Bermuda
Beautiful to clean up local areas during the annual Community Giving Day. During 2010,
we identified and began finding strategic partner organizations and launched a Nonprofit
Learning series for colleagues to become acquainted with those groups and get involved.
Mercer and Marsh support colleague volunteering with a policy that grants employees
at all levels paid time off for community service each year, a policy that was expanded to We could not
personnel at Guy Carpenter and our parent company colleagues. This provides colleagues
an opportunity to support programs that are personally important to them while building
have done
morale across the enterprise. this without
Putting our expertise to work you, and we
Our greatest resource is our intellectual capital, which we put to work for communities and
people at risk by providing pro bono services. This benefits both our Company and our
would not have
partners. Nonprofit organizations receive world-class consulting, free of charge or at reduced
rates, and we engage with clients, prospects and senior-level decision makers on issues of
wanted to do it
shared valueopening doors, building our employment brand and enhancing our corporate without you.
reputation. In addition, our colleagues gain the satisfaction of using their professional skills
to advance issues of personal value. John Wood,
Founder
Colleagues in Oliver Wyman Group have an exceptional record in partnering with innovative Room to Read
nonprofit organizations that improve the lives of people in the developing world through
microfinance, health care and education. They make the greatest impact by doing what they
do best: using their expertise to help nonprofit organizations evaluate the need for their
services, create new strategies and sustainable business models, improve their operations
and enhance their leaders effectiveness. Oliver Wyman Group dedicates its best talent to its
pro bono work and forms high-impact, enduring partnerships with nonprofit organizations to
affect greater positive change.

Access to Oliver Wyman Group colleagues provided extraordinary assistance to Room

health care
in Rwanda
Most Rwandans dont have access to basic,
quality health care, but Zack Scott set out
to change that. Through Oliver Wymans
Nonprofit Fellowship Program, Zack
took time off from his position with Oliver
Wymans Financial Services business unit in
New York and traveled to northern Rwanda.
There he joined a Wyman Worldwide
Health Partners project to help develop and
implement a new health care delivery model
at the Shingiro and Kabere Health Centers.
Zack used his business skills to help improve
the lives of both adults and children, such
as the one pictured above. He also created
strategies and materials for applying the
model at additional health centers.
to Read between 2008 and 2010. This international nonprofit organization is
devoted to breaking the poverty cycle by educating underprivileged children in
the developing world. An Oliver Wyman Group team guided Room to Read in developing a five-
year strategic plan, and Lippincott helped update the organizations brand architecture.
Over the same period, Oliver Wyman partnered with the following organizations as well:
Womens World Bankinga global network of 39 microfinance providers and banks
working in 27 countries to bring financial services to women entrepreneurs, enabling
them to build a secure financial future for themselves and their households.
Junior Achievement Worldwidethe worlds largest organization dedicated to
educating students about workforce readiness, entrepreneurship and financial literacy.
Wyman Worldwide Health Partnersa nonprofit formed by Oliver Wyman Founder Bill
Wyman and his wife, Ro, to improve the primary health care delivery system in Rwanda.
Acumen Funda global venture fund that applies entrepreneurial approaches to solve
problems of global poverty.
When appropriate, we combine our pro bono support with financial assistance. After
brushfires ravaged Victoria, Australia, in 2009, colleagues from Mercer and Marsh helped
small businesses file claims and provided advice for financial recovery. In addition, they
raised A$225,000 for the Victorian Bushfire Appeal through an employee-matching
campaign and corporate donations.

12 OUR WORK WITH COMMUNITIES

 moving
Nonprofit Fellowship
forward
Oliver Wymans Nonprofit Fellowship (NPF) Program enables junior consulting staff
members to take extended time off from their consulting careers to make a dedicated in 2011
personal contribution to a nonprofit organization. Some may work in a developing
country, while others provide strategic support at an organizations headquarters.
Institute methods for
Participants have assisted the Acumen Fund, Childrens Hospital Boston, The Center
tracking employee
for Effective Philanthropy, Chicago Symphony Orchestra, William J. Clinton Foundation,
volunteering and
Kiva, Teach For India, The Nature Conservancy, Oxfam India and many others. Over
streamlining our
100 colleagues have taken part in Oliver Wymans NPF Program since it was initiated
charitable giving
in 2001, and all report similar results: new professional skills, immeasurable personal
processes
growth and an unforgettable experience.
Embed a CSR education
component into
Partnering with Communities
onboarding program for
We also forge relationships with targeted groups to create awareness of the
new hires
opportunities in our industries, promote our ability to recruit diverse talent, and
support the goals of those communities. We established new partnerships in
Expand pro bono
2010 with the Asia Society, the Hispanic Association on Corporate Responsibility
program to all Operating
and the American Association of People with Disabilities, adding to an already
Companies
extensive roster of partner organizations. Through our involvement with educational
programs, including Prep for Prep and Cristo Rey High School, we help at-risk
communities while creating access to diverse talent pools.

A Model Program
Marsh took home top honors in the 2010 British Insurance Awards, winning the Corporate and Social Responsibility Award for its
programs coordinated approach and broad scope. Marshs efforts are aligned with the work of our U.K. Marsh & McLennan Companies
CSR Team, which manages activities across all of our Operating Companies. This coordinated approach multiplies impact and fosters
a sense of community throughout our organization. U.K. activities include the successful Charity of the Year program, multiyear
partnerships with eight national charities, match-funding programs, colleague volunteering, and environmental sustainability. This
synchronized approach, which gained notable support from CEO Brian Duperreault, serves as a model for our CSR initiatives elsewhere.
Now in its fifth year, the Marsh & McLennan Companies U.K. Charity of the Year program raises more than 150,000 over an 18-month
period for a designated charity chosen by U.K. colleagues. For 2010, funds benefited CLIC Sargent, one of the United Kingdoms largest
childrens cancer charities. A network of 80 colleagues planned monthly fundraising events as well as the annual Team Walk Challenge,
during which 400 colleagues raised over 12,000. In April 2010, the London Marathon provided an opportunity for colleagues to join
London Marathon Cheering Zone events (pictured), raising an additional 2,300 for CLIC Sargent.
OUR WORK
WITH PEOPLE
We aspire to maximize the potential of our colleagues through our
approach to human capital and by building an inclusive workplace in
which each individual can achieve excellence.

In todays knowledge-based economy, human capital is a primary asset. We can only achieve our goals and
objectives through committed, motivated and engaged colleagues. It is through the efforts of extraordinary
people at Marsh & McLennan Companies that we have been able to develop and drive our citizenship agenda.

During the past year, we launched many human capital initiatives, including work in diversity and inclusion at
both the global and Operating Company levelsinitiatives that reflect the value we place on our colleagues.
Likewise, we continue to expand our extensive array of human capital solutions to help our clients address
their own workplace challenges.

Our Commitment to our Colleagues

Listening to our colleagues is a priority, as evidenced by our sustained effort and commitment to connect with our
people. In 2010, we analyzed and responded to the results of our 2009 Colleague Engagement Survey, our first all-
colleague assessment, which achieved a 66 percent response rate. Asking colleagues what they think and listening
to their responses gives us a better understanding of their needs, enables us to include their voice in our action plans
and increases engagement and trust.

Survey results identified four key drivers of colleague engagement for us: career development; leadership and
strategic direction; tools and infrastructure to enable colleagues to do their jobs; and colleague rewards. We
developed an array of responses to address these areas. A series of follow-up pulse surveys conducted in 2010
indicated that colleagues have seen measurable improvements in career development opportunities and in the
leadership and strategic direction of the firm.

Colleagues, such as this participant in our Financial Leadership Development Program, have opportunities
to pursue learning and development activities at many points in their careersentry, middle and senior level.
We used online discussion boardsour first social media pilot that included all colleagues
globallyto further explore issues raised in the survey and help focus our response. We Marsh
asked colleagues for their ideas regarding how best to meet their needs, and their response University:
was extraordinary: 32,494 visits, 10,818 votes and 529 posts, far exceeding expectations. Social Media
This global conversation brought people together from more than 25 countries and 99
Powered
cities on six continents. Colleagues who might never have been able to attend a focus group
in person had equal opportunity to engage in a discussion about improving the enterprise. Learning
This dialogue was pivotal in shaping our responses.
At Marsh, everyone is a teacher. Marsh
We will build on this rich dialogue with our colleagues by continuing online discussion University, Marshs new social media
boards, measuring our progress through quarterly pulse surveys of 25 percent of colleagues, platform, is a cutting edge approach
and conducting another Colleague Engagement Survey in 2011. to facilitate knowledge sharing and
relationship development, where Marsh
Our businesses also have unique ways of communicating with their colleagues. Many invites its colleagues to share their expertise
conduct regular town halls with their senior leadership or utilize electronic communications. and learn from one another. This global
At Oliver Wyman Group, colleagues communicate and connect through POW!People of platform supports a variety of rich media
Oliver Wyman Groupa social networking and knowledge sharing site. And, in an effort to formats through blogs and videos, and
share ideas and create a more integrated human capital strategy across the firm, the global enables atomized learning (short,
human resources leaders from across all of our businesses came together in person for an insight-rich content). Additionally, by
intense working session in April 2010. A key outcome of that event was a Human Resources sharing their own backgrounds and profiles,
Commitment that expresses a common vision for creating a collaborative global HR Marsh colleagues build strong internal
community that will provide innovative leadershipa commitment that will benefit all of our relationshipsacross the world, across
Marsh & McLennan Companies colleagues. practices and across business units. In just
three months, more than 9,000 colleagues
created profiles, including their expertise
Connecting our colleagues and interests. Marsh will also launch both a
global ambassadors and a certified bloggers
program to increase everyones capability
with social media software.

We are upgrading our human resources technology infrastructure to provide colleagues

with greater access to information. For much of 2010, a cross-enterprise team identified
the business requirements for this initiative and developed implementation plans for two
new portals: PeopleLink and CareerLink. PeopleLink provides payroll, benefits, wellness and
career-related information. CareerLink, our Companys first ever enterprise-wide, performance,
talent and learning platform, will give colleagues access to tools for developing their skills and
progressing their careers.

OUR WORK WITH PEOPLE 15

Promoting wellness
In 2010, we began to explore the wellness aspects of our employee value proposition in
the United States. Our U.S. health benefits have historically covered 100 percent preventive
care, a key foundation for any wellness effort. We also offer U.S. Employee Assistance and
Life Care Services programs, which assist colleagues in coping with life issues and identifying
family resources and services to support them. In 2010, we implemented a series of new
wellness initiatives, including an enterprise-wide ergonomics program to address workplace-
related stress injuries and healthy food choices in our cafeterias in U.S. locations. Based on
an analysis of U.S. colleagues health claims, we created a new initiative called Healthy Me,

Advancing
which is rolling out in 2011.

colleagues
Strength through diversity
Diverse teams create better solutions. Inclusion fosters engagement. These are two
careers
premises that drive Marsh & McLennan Companies commitment to cultivate a broadly
Marsh & McLennan Companies offers
inclusive workplace environment. We believe that diverse perspectives contribute to greater
career development programs for
innovation and exceptional client service.
both entry-level and established
colleagues. The Corporate Finance
Over the past two years, we have laid a strong foundation for a firm-wide diversity and
Group recruits MBA graduates for its
inclusion strategy that seeks to create an even more visibly inclusive culture across our
best-in-class Financial Leadership
organization. To do this we conducted research and benchmarking, built a global diversity
Development Program, which
leadership structure, identified key external partners who can support us through intellectual
provides rotational opportunities
capital and resources, and strengthened our Employee Resource Groups. We know that a
across the Company. Guy Carpenter
strong approach to diversity and inclusion can position Marsh & McLennan Companies as
created a Global Analytics
an attractive brand for top talent, help fulfill our corporate social responsibility agenda, and
Immersion Program, a 12- to
enhance the offerings and services we provide to the marketplace.
18-month learning experience that
gives new hires the deep analytic
We are committed to increasing the number of women in leadership in our organization
capabilities that todays complex
globally, strengthening the leadership representation of colleagues of racially and ethnically
market demands. Marshs Risk
diverse backgrounds in the United States, and enhancing a culture of inclusion for all
Analyst Program continues to be
colleagues, including LGBT (lesbian, gay, bisexual and transgender) colleagues as well as
an important source of entry-level
colleagues who are living withor caring for others withdisabilities.
talent for that business. Mercer
www.mmc.com/diversity
offers development experiences
through a stepped learning curric-
ulum that culminates in its Helping
Benchmarking
Leaders Succeed program. Oliver
Benchmarking conducted with external partners enables us to evaluate the status
Wymans consulting staff benefits
of our Companys diversity initiatives relative to industry peers. Marsh & McLennan
from regular career discussions with
Companies added the resources of the Chief Executive Womens CEO Kit in Australia and
their advisors and partner teams to
Opportunity Now in the United Kingdom, in addition to existing benchmarking through
identify paths for advancement.
Catalyst in the United States. These tools and organizations provide a framework for
promoting, attracting and retaining talented colleagues.

16 OUR WORK WITH PEOPLE

Creating accountability
Our leadership ensures accountability through the global Marsh & McLennan Companies
Diversity Council, comprising senior business leaders from each Operating Company. These
leaders are responsible for executing firm-wide diversity and inclusion initiatives within their
businesses, including managing their own local diversity councils, and are accountable to the
Marsh & McLennan Companies Executive Committee. Key diversity and inclusion initiatives
across all of our Operating Companies are coordinated through Operating Company
Diversity Leaders in each business and a Chief Diversity Officer.
Youths from the Harlem YMCA presented the
Company with this collage in appreciation
of our participation in its Black Achievers in
Engaging leaders Industry (bai) scholarship program.
In 2010, Marsh & McLennan Companies leadership embarked on a significant initiative to
better understand and plan the organizations diversity and inclusion strategy. Senior business
and diversity leaders from each Operating Company, including our CEO and Executive
Committee, engaged in Diversity Leadership Dialogues to explore their personal and organiza- A top-rated
tional commitment to diversity and inclusion, and create a strategic plan for attracting and
supporter
retaining diverse talent. In addition, University of Michigan Professor Scott E. Page, author of
The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies, of human
addressed a broad group of leaders regarding the empirical data and evidence that supports rights
the observation that diverse teams drive better and more innovative results.
In the United States, Marsh & McLennan
Members of GLOW (Gays and Lesbians at Oliver Wyman) met with members of the Oliver Companies publicly lent support to the
Wyman Group management committee during a series of reverse mentoring sessions proposed Employment Non-Discrimination
that created a comfortable environment for leadership to learn about the LGBT community Act by adding our name to the Business
at Oliver Wyman Group, its experiences and challenges, and how to build an even more Coalition for Workplace Fairness led by the
inclusive culture. Human Rights Campaign (HRC). For the
third consecutive year, Marsh & McLennan
Mercer piloted a new multiyear, multimedia, Managing Inclusion training program for Companies received a 100 percent rating
managers in selected U.S. offices. This two-tiered program, demonstrating how sound in the Corporate Equality Index (CEI), an
diversity and inclusion practices impact productivity and boost employee engagement, will annual survey administered by HRC. The
continue to be rolled out during 2011. In a related effort, more than 1,000 Mercer colleagues CEI rates employers on how inclusive their
participated in a nine-part series of online multicultural webinars. culture, policies and practices are for lesbian,
gay, bisexual and transgender employees,
In a groundbreaking diversity initiative, senior leaders from Guy Carpenter and Marsh consumers and investors. As a top-rated
partnered with Heidrick & Struggles, a leading executive search firm, to convene a first Company, we are included on HRCs list of
Insurance Diversity Roundtable for the industry. More than 60 senior business and diversity Best Places to Work.
leaders from leading insurance and reinsurance companies and brokers across the United
States gathered for two days of discussion and education, and began identifying the particular
challenges the industry faces in attracting and retaining diverse talent. Follow-up teams
outlined potential actions and solutions. The roundtable will reconvene in 2011 to begin
implementation of select solutions.

OUR WORK WITH PEOPLE 17

Supporting diversity through development
RECRUITING
Employee Resource Groups have long existed in various businesses and regions
throughout our organization. In 2010, we ensured that each of our Operating Companies DIVERSE
sponsored Employee Resource Groups in support of women, racially and ethnically TALENT
diverse colleagues in the United States, LGBT colleagues and the disability community.
Some of our businesses have established additional groups such as those focusing Recruiting top talent is mission critical
on young professionals at Guy Carpenter and community involvement at Mercer. for a firm like ours whose product is its
Our current goal is to link and coordinate among these constituencies so that our intellectual capital. We are expanding our
colleagues collective voice is even greater and more powerful. talent pool through strategic partnerships
that extend our reach to new candidates
and talent pipelines such as Sponsors for
Educational Opportunity, the National
Black MBA Association and the National
Society of Hispanic MBAs.

Together with Heidrick & Struggles, we

created a unique recruiting concept, the
Inclusion Network, to attract a broader
and more diverse talent pool to ensure
we identify the best talent for the job. The
network includes six minority-, LGBT- and
women-owned search firms that work
with Heidrick to fill senior-level positions
Cristo Rey High School students, including this Williams College-bound senior, and to engage in other innovative talent
work with us to help fund their education and gain valuable workplace skills.
sourcing initiatives such as market scans
and invitational candidate meetings. The
For a second year, high-potential colleagues of racially and ethnically diverse Inclusion Network not only identifies a
backgrounds in the United States were invited to participate in professional broader pool of talent, it also increases
development, networking and coaching through our partnership with Management brand awareness of Marsh & McLennan
Leaders for Tomorrow (MLT). MLTs reach into Fortune 500 companies provides our MLT Companies in diverse communities and
graduates with a broad and strong program in which they participate in mentoring for contributes to our supplier diversity efforts.
six months and have access to a lifelong network of top talent. Senior business leaders www.mmc.com/careers
continued their support and participation in development opportunities provided by the
Executive Leadership Council, the premier organization for senior-level African American
colleagues in U.S. corporations. As noted previously in Our Work With Communities,
Marsh & McLennan Companies also joined Asia Society, including its diversity council,
the Hispanic Association on Corporate Responsibility, and the American Association
for People with Disabilities to expand our external support structure for diversity. We
continued our support of LGBT colleagues through participation in conferences such as
the Out & Equal Workplace Summit.

18 OUR WORK WITH PEOPLE

 moving
Advancing business through women in leadership
forward
Our businesses have taken great strides to align their womens Employee Resource Groups
with their clients agendas. in 2011
Conduct second Colleague
Within Marsh, three organizations support the development of women. The GEC Womens
Engagement Survey
Group provides networking for women who are part of the Global Executive Committee (GEC)
and supports senior leaders in the implementation of Marshs diversity and inclusion strategy.
Launch Healthy Me
The Womens Internal Network (WIN) welcomes all women in Marshs New York metro area
offices, creating networking and learning opportunities for its members. Marshs client-facing
Increase employee
colleagues also created chapters of WEBB, the Women Executives Business to Business, in
involvement in and
New York, Baltimore, Washington, D.C., Atlanta and Los Angeles, to forge relationships with
collaboration among
clients and prospects around shared interests and values. Marsh is also a sponsor of Dress for
Employee Resource Groups
Success and hosts their monthly Professional Womens Group.

Expand reverse mentoring to

The Vine, a well-established womens resource group within Mercers U.K. operations, proved
more participants and among
its value to Mercers commercial success. In 2010, The Vine raised client awareness of Mercer
broader constituencies
as an inclusion-aware consulting partner through a major event hosted in conjunction with
the European Professional Womens Network, a significant professional global network.
Expand our engagement with
clients around diversity and
Guy Carpenter launched its Womens Employee Resource Group with a global webcast
inclusion initiatives
connecting women across its businesses for the first time. Guy Carpenter will continue driving
this global effort through further networking opportunities and mentoring initiatives in 2011.
Launch a supplier registration
website
The Companys Asia Pacific Womens Network engages colleagues from regional countries
including Australia, China, India and Singapore in professional development. Members
Develop strategy to capture
are raising funds for early childhood education in rural China through a relationship with
and drive Tier 2 spending with
Plan International. The groups members also build relationships with clients by hosting
preferred suppliers
networking events around key womens issues, including one featuring Australian Olympic
sprinter, Cathy Freeman.

Supplier diversity
Our commitment to diversity extends to cultivating relationships with minority-, women-,
and LGBT-owned businesses as well as small businesses. We believe this is essential to
our overall success and contributes to economically vital communities. Through active
participation in U.S. and U.K. diversity organizations, we learn of qualified and certified
diverse suppliers. We also meet regularly with diverse suppliers to qualify them, introduce
our needs and provide instruction and mentoring. We include qualified diverse suppliers in
formal Requests for Proposal (RFPs) conducted by our Global Sourcing and Procurement
function, and also track our spending with diverse suppliers on an ongoing basis.
www.mmc.com/diversity/supplier

OUR WORK WITH PEOPLE 19

Helping our clients maximize human potential
Mercer and Oliver Wyman are global leaders in helping organizations maximize the potential of their people and their
leaders, and have highly regarded services focused on developing human capital.

Mercer
Mercer helps clients effectively and efficiently manage their human capital. As organizations advance their corporate
social responsibility agendas and gain the advantage of a diverse workforce, Mercer has expanded its services to meet
this need.

Many U.S. employers are exposed to pay equity risk due to the Lilly Ledbetter Fair Pay Act of 2009, which eliminates
the time limit for individuals to file claims of pay discrimination. Mercers Human Capital business furthers clients
efforts to measure and mitigate these risks using its Pay Equity studies and proprietary Pay Equity Calculator. Mercers
Internal Labor Market Analysis tools enable clients to measure and understand their own labor force, ensure equity
and fairness, and link their human capital programs with business results. In addition, Mercer helps clients design
compensation, retirement and benefit programs; manage risk related to harassment and discrimination; and confront
gaps through career channeling and glass ceiling assessments.

In mid-2010, Mercer acquired ORC Worldwide, a leader in human resource information and consulting services. As
a result, Mercer expanded its capabilities in global equality, diversity and inclusion (GEDI); environment, health and
safety (EH&S); labor and employment policy; and global development consulting to international nongovernmental
organizations. Mercers peer networks provide a forum in which hundreds of the worlds top companies share best
practices and benefit from insights on emerging issues.

Oliver Wyman
Oliver Wymans Leadership Development business creates customized leadership solutions for a wide range of
Global 1000 organizations. Its work with clients accelerates the development of leadership as a source of competitive
advantage and provides high-impact human capital strategies to drive organizational performance, even during times
of crisis such as the recent global economic slowdown.

Business relationships can become even stronger as colleagues, such as these from Greater China, find
opportunities to work together through learning, development and service activities.
ABOUT THIS
REPORT
The Marsh & McLennan Companies Corporate Citizenship Report is written for our clients, CONTACT US
colleagues, investors, nongovernmental organizations and others with an interest in Your feedback is important to us. We
our approach to Corporate Citizenship. The reports focus is on our accomplishments in invite you to provide ideas for advancing
environmental sustainability, corporate social responsibility, diversity and other areas that our citizenship activities. Please send
demonstrated our Companys citizenship in 2010. The Companys financial performance your comments to the following address:
is covered in our 2010 Annual Report for Shareholders, which is available online at corporatecitizenship@mmc.com.
www.mmc.com.
Copyright Marsh & McLennan
Companies 2011
SCOPE All rights reserved
This report covers data, initiatives and accomplishments for Marsh & McLennan
Companies global operations, including our Operating Companies. Performance data Produced by RKC!
is primarily for 2010, unless otherwise noted. In some cases, information for early 2011 (Robinson Kurtin Communications! Inc)
is also included to give an up-to-date picture. Strategy and content by
CRM Communications

Reporting Standards and Assurance Page 8 photo by Steve Hall

This report was developed in line with the Global Reporting Initiative (GRI) G3 Sustainability Hedrich Blessing Photography
Reporting Guidelines, which provide a standard framework for organizations to report Interior design by Perkins+Will
on their social, environmental, governance and economic performance. We draw on
guidance from the Greenhouse Gas Protocol for our carbon reporting. The content received
internal review by subject matter experts, the Corporate Citizenship Report team, and our
Companys leadership to ensure that it fairly represents our citizenship activities and results.

Future Reporting
It is our intent to produce future reports on our progress toward the goals outlined in this
report as well as material GRI G3 performance indicators as referenced above.

Our Valued Partners

We partner with a wide range of organizations in the course of conducting our business,
strengthening communities, supporting workplace equality and reducing our environmental
footprint. For a list of these organizations, visit www.mmc.com/CorporateCitizenship.

21
Marsh & McLennan Companies, Inc.
1166 Avenue of the Americas
New York, NY 10036
www.mmc.com