Marsh & McLennan Invests In InsWeb

InsWeb, the online insurance marketplace, announced a strategic partnership today with Marsh & McLennan Companies, Inc., the professional services firm, in which Marsh & McLennan purchased a minority interest in InsWeb. Terms of the deal were not disclosed.

InsWeb Chairman and CEO Hussein Enan, said, "As a strategic partner with InsWeb, Marsh & McLennan will assist us in pursuing our dual mission of providing consumers comprehensive insurance products over the Internet and enabling the insurance industry to market the widest possible range of products online. This partnership will be of enormous value in developing new business opportunities, taking advantage of Marsh & McLennan's extensive relationships with leading corporations, as well as insurance and reinsurance firms, in the U.S. and abroad."

Charles A. Davis, president and COO of Marsh & McLennan Capital, Inc., said, "As a growing number of consumers turn to the Internet to take care of their insurance needs, we believe InsWeb is well-positioned to serve that emerging market."

Marsh & McLennan Capital, Inc. advised Marsh & McLennan in connection with the transaction.