Marsh Says It Has No Plans to Bid for the Benfield Group

On Tuesday Marsh & McLennan Cos. Inc. stated that it had no plans to outbid rival Aon Corp. for London-based reinsurance brokerage Benfield Group as the media had reported.

Published on September 3, 2008

"We have no interest in making a counter bid for Benfield," a spokeswoman for New York-based MMC said.

Chicago-based Aon last month announced that it will pay $1.75 billion in cash to acquire Benfield, which combined with Aon Re will become known as Aon Benfield Re (BI, Aug. 25).

MMC previously considered acquiring Benfield, but not on the same terms that Aon offered, a source close to the matter said.