Standard & Poor’s Ratings Services said that the antitrust charges filed by the Connecticut Attorney General against Marsh & McLennan subsidiary Guy Carpenter & Co. L.L.C. will not affect the rating on MMC. “The charges allege that the reinsurance brokerage conspired with numerous reinsurers to fix prices and shut out competitors to the detriment of its insurer clients and consumers nationwide,” S&P explained. “At present, the charges filed against Guy Carpenter are not sufficiently material to change the rating on MMC,” stated S&P credit analyst Steven Ader. “This is based on our belief that these charges will have modest monetary implications and a negligible effect on Guy Carpenter’s competitive position.”
Was this article valuable?
Here are more articles you may enjoy.
Severe Convective Storms: Risk, Field Reality and the Path to Resilience 
Catastrophe-Bond Holders Bet Hurricane Polo Won’t Trigger Losses 
Glencore Faces $2 Billion Suit as It Alleges Radiant World Fraud 
FBI Investigating Hackers’ Claims of Stealing Employee Data 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.