<SEC-DOCUMENT>0000950103-20-014710.txt : 20200731
<SEC-HEADER>0000950103-20-014710.hdr.sgml : 20200731
<ACCEPTANCE-DATETIME>20200731084233
ACCESSION NUMBER:		0000950103-20-014710
CONFORMED SUBMISSION TYPE:	S-8 POS
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20200731
DATE AS OF CHANGE:		20200731
EFFECTIVENESS DATE:		20200731

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MARSH & MCLENNAN COMPANIES, INC.
		CENTRAL INDEX KEY:			0000062709
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE AGENTS BROKERS & SERVICES [6411]
		IRS NUMBER:				362668272
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8 POS
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-209684
		FILM NUMBER:		201063708

	BUSINESS ADDRESS:	
		STREET 1:		1166 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		2123455000

	MAIL ADDRESS:	
		STREET 1:		1166 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARSH & MCLENNAN COMPANIES INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARLENNAN CORP
		DATE OF NAME CHANGE:	19760505
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8 POS
<SEQUENCE>1
<FILENAME>dp133196_s8pos-333209684.htm
<DESCRIPTION>FORM S-8 POS
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on July 31, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-176084<BR>
&#9; Registration No. 333-209684</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.25in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-top: Black 4.5pt double; font-size: 10pt">&nbsp;</TD></TR>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B><BR>
<BR>
</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POST-EFFECTIVE AMENDMENT No. 1 TO FORM
S-8 REGISTRATION STATEMENT No. 333-176084</B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POST-EFFECTIVE AMENDMENT No. 1 TO FORM
S-8 REGISTRATION STATEMENT No. 333-209684<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MARSH &amp; McLENNAN COMPANIES, INC.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center"><B>Delaware<BR>
(State or Other Jurisdiction of<BR>
Incorporation or Organization)</B></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="background-color: white"><B>36-2668272</B></FONT><B><BR>
(I.R.S. Employer<BR>
Identification No.)</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1166 Avenue of the Americas</B>&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, New York 10036-2774</B>&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212) 345-5000<BR>
        (<FONT STYLE="font-size: 10pt">Address, including zip code, and telephone number, including area code, of Registrant&rsquo;s principal
        executive offices</FONT>)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MARSH &amp; McLENNAN COMPANIES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2011 INCENTIVE AND STOCK AWARD PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<B>2020 INCENTIVE AND STOCK AWARD
PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full Title of the Plan)<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Katherine J. Brennan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;Marsh &amp; McLennan Companies, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">1166 Avenue of the Americas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;New York, New York 10036-2774&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name and Address of Agent for Service)<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(212) 345-5000<BR>
<FONT STYLE="font-size: 10pt">(Telephone Number, Including Area Code, of Agent for Service)</FONT><B><BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See
the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company&rdquo;
and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; font-size: 10pt"><B>Large accelerated filer </B>&#9746;</TD>
    <TD STYLE="width: 33%; font-size: 10pt"><B>Accelerated filer </B>&#9744;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>Non-accelerated filer </B>&#9744;<B>&nbsp;(Do not check if a smaller reporting company)</B></TD>
    <TD STYLE="font-size: 10pt"><B>Smaller reporting company </B>&#9744;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><B>Emerging Growth Company </B>&#9744;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 7(a)(2)(B) of the Securities Act. &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>EXPLANATORY NOTE</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 55.1pt; background-color: white">On May 21, 2020
(the &ldquo;Effective Date&rdquo;), the stockholders of Marsh &amp; McLennan Companies, Inc. (the &ldquo;Company&rdquo; or the
&ldquo;Registrant&rdquo;) approved the Marsh &amp; McLennan Companies, Inc. 2020 Incentive and Stock Award Plan (the &ldquo;2020
Plan&rdquo;). The total number of shares of the Company&rsquo;s Common Stock, par value $1.00 per share (the &ldquo;Common Stock&rdquo;),
that may be issued pursuant to the 2020 Plan includes, in addition to 20,000,000 new shares of Common Stock (registered concurrently
on a new Registration Statement on Form&nbsp;S-8), any shares subject to outstanding awards under the Marsh &amp; McLennan Companies,
Inc. 2011 Incentive and Stock Award Plan (the &ldquo;Prior Plan&rdquo;) that, on or after the Effective Date, are forfeited, cancelled,
exchanged or surrendered without the issuance of shares of Common Stock (the &ldquo;Prior Plan Shares&rdquo;). Outstanding awards
granted under the Prior Plan will continue to be governed by the terms of the Prior Plan, but no new awards will be granted under
the Prior Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 55.1pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 55.1pt; background-color: white">Immediately prior
to the Effective Date, up to 15,643,561.497 shares of Common Stock were subject to outstanding awards under the Prior Plan. In
accordance with Item&nbsp;512(a)(1)(iii)&nbsp;of&nbsp;Regulation&nbsp;S-K&nbsp;and Compliance and Disclosure Interpretation 126.43,
this Post-Effective Amendment No. 1 to Registration Statement&nbsp;No. 333-176084 and Post-Effective Amendment No. 1 to Registration
Statement No. 333-209684 (the &ldquo;Post-Effective Amendment&rdquo;) is hereby filed to cover the issuance of the Prior Plan Shares
pursuant to the 2020 Plan. No additional securities are being registered by this Post-Effective Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 55.1pt; background-color: white">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART II</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 3. Incorporation of Documents by Reference</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The following documents filed are incorporated
herein by reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a)&nbsp;&nbsp;The
Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the U.S. Securities and Exchange Commission
(the &ldquo;Commission&rdquo;) on February 20, 2020 (File No. 001-05998).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b) The Company&rsquo;s current reports
on Form 8-K filed after the fiscal year ended December 31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c) The Company&rsquo;s Registration Statement
on Form 8-B dated May 22, 1969, as amended by an Amendment on Form 8, dated February 3, 1987, describing the Common Stock, including
any amendment or reports filed for the purpose of updating such description.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In addition, all documents subsequently
filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange
Act&rdquo;), prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities
offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
in this Registration Statement and to be a part hereof from the date of the filing of such documents. The Registrant is not incorporating
by reference any document or portion thereof, whether specifically listed above or to be filed in the future, that is not deemed
&ldquo;filed&rdquo; with the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein (or in any other subsequently filed document which also is incorporated
or deemed to be incorporated by reference herein), modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 4. Description of Securities</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 5. Interests of Named Experts and Counsel</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Katherine J. Brennan, Deputy General Counsel,
Corporate Secretary &amp; Chief Compliance Officer of the Company will pass upon the validity of the offered securities. Ms. Brennan
is eligible to participate in the 2020 Plan and was eligible to participate in the Prior Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 6. Indemnification of Directors and Officers.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">Section 145 of
the General Corporation Law of the State of Delaware (the &ldquo;DGCL&rdquo;) provides that a corporation may indemnify directors
and officers, as well as employees and other individuals, against expenses (including attorneys&rsquo; fees), judgments, fines
and amounts paid in settlement actually and reasonably incurred by such person in connection with any threatened, pending or completed
actions, suits or proceedings in which such person is made a party by reason of such person being or having been a director, officer,
employee or agent of the corporation. The DGCL provides that Section 145 is not exclusive of other rights to which those seeking
indemnification may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise. Section
6.01 of the Company&rsquo;s amended and restated bylaws provides for indemnification by the Company of its directors, officers
and employees to the fullest extent permitted by the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">Section 102(b)(7)
of the DGCL permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not be
personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except
for liability for any breach of the director&rsquo;s duty of loyalty to the corporation or its stockholders, for acts or omissions
not in good faith or which involve intentional misconduct or a knowing violation of law, for unlawful payments of dividends or
unlawful stock purchases, redemptions or other distributions, or for any transaction from which the director derived an improper
personal benefit. The Company&rsquo;s restated certificate of incorporation provides for such limitation of liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">The Company maintains
standard policies of insurance under which coverage is provided to its directors and officers against loss arising from claims
made by reason of breach of duty, misstatement, error or omission committed in their capacity as directors or officers of the Company.
Such policies of insurance also provide coverage to the Company with respect to payments which may be made by the Company to such
officers and directors pursuant to the above indemnification provision or otherwise as a matter of law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Item 7. Exemption from Registration Claimed.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 8. Exhibits.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; width: 9%; padding-bottom: 2pt"><B>Exhibit<BR>
Number</B></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; width: 2%; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; width: 89%; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000006270908000150/ex3-1restatedcertofinc.htm">4.1</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000006270908000150/ex3-1restatedcertofinc.htm">Restated Certificate of Incorporation of Marsh &amp; McLennan Companies, Inc. (incorporated by reference to the Company&rsquo;s Current Report on Form 8-K filed on July 18, 2008).*</A></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000006270917000002/mmcbylawsproxyaccessfinal0.htm">4.2</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000006270917000002/mmcbylawsproxyaccessfinal0.htm">Amended and Restated Bylaws of Marsh &amp; McLennan Companies, Inc. (incorporated by reference to the Company&rsquo;s Current Report on Form 8-K filed on January 12, 2017).*</A></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000119312511211785/dex51.htm">5.1</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000119312511211785/dex51.htm">Opinion of Luciana Fato, Esq. as to the legality of the securities being registered with respect to the 2011 Plan (incorporated by reference to Exhibit 5.1 to the Company&rsquo;s Registration Statement on Form S-8, filed August 5, 2011, Registration No. 333-176084).*</A></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000006270916000041/exhibit51.htm">5.2</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000006270916000041/exhibit51.htm">Opinion of Carey Roberts, Esq. as to the legality of the securities being registered with respect to the 2011 Plan (incorporated by reference to Exhibit 5.1 to the Company&rsquo;s Registration Statement on Form S-8, filed February 24, 2016, Registration No. 333-20964).*</A></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="dp133195_ex0503.htm">5.3</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="dp133195_ex0503.htm">Opinion of Katherine J. Brennan.</A></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="dp133195_ex2301.htm">23.1</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="dp133195_ex2301.htm">Consent of Independent Registered Public Accounting Firm, Deloitte &amp; Touche LLP.</A></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="dp133195_ex0503.htm">23.2</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="dp133195_ex0503.htm">Consent of Counsel (included in Exhibit 5.1, 5.2 and 5.3).</A></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="#poa">24</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="#poa">Power of Attorney (included on the signature pages of this Registration Statement).</A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P></DIV>
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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt; width: 9%"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000119312511211785/dex991.htm">99.1</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt; width: 89%"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000119312511211785/dex991.htm">Marsh &amp; McLennan Companies, Inc. 2011 Incentive and Stock Award Plan (incorporated by reference to the Company&rsquo;s Registration Statement on Form S-8 filed August 5, 2011, Registration No. 333-176084).*</A></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000006270919000010/mmc12312018ex_1038.htm">99.2</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000006270919000010/mmc12312018ex_1038.htm">Amendment to the Marsh &amp; McLennan Companies, Inc. 2011 Incentive and Stock Award Plan (incorporated by reference to the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2018).*</A></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000006270913000004/ex1042.htm">99.3</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000006270913000004/ex1042.htm">Section 409A Amendment Regarding Payments Conditioned Upon Employment-Related Action to Any and All Plans or Arrangements Entered into by the Marsh &amp; McLennan Companies, Inc., or any of its Direct or Indirect Subsidiaries, that Provide for the Payment of Section 409A Nonqualified Deferred Compensation, effective December 21, 2012 (incorporated by reference to the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2012).*</A></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000119312520098080/d821972ddef14a.htm">99.4</A></TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: top; padding-bottom: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/62709/000119312520098080/d821972ddef14a.htm">Marsh &amp; McLennan Companies, Inc. 2020 Incentive and Stock Award Plan (incorporated by reference from Exhibit C to the Registrant&rsquo;s Definitive Proxy Statement on Schedule 14A filed on April 3, 2020).* </A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">*Incorporated herein by reference</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Item 9. Undertakings</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a)&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(1)&nbsp;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any prospectus required by Section 10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;To
reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate
offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in this registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(iii)&nbsp;&nbsp;&nbsp;To
include any material information with respect to the plans not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><I>provided</I>, <I>however</I>,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section
13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(2)&nbsp;&nbsp;&nbsp;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(3)&nbsp;&nbsp;&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b)&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant&rsquo;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable,
each filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated
by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c)&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of the Registrant pursuant to the provisions referenced in Item&nbsp;6 of this Registration Statement, or otherwise, the Registrant
has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as
expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by the Registrant of expenses incurred or paid by a director, officer, or controlling person of the Registrant
in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection
with the securities being registered hereunder, the Registrant will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of New York, State of New York, on July 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>MARSH &amp; McLENNAN COMPANIES, INC. </B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 55%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">By:</TD>
    <TD STYLE="vertical-align: top; width: 30%; border-bottom: Black 1pt solid">/s/ Daniel S. Glaser</TD>
    <TD STYLE="vertical-align: top; width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Daniel S. Glaser</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Director, President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><A NAME="poa"></A>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">The undersigned directors and officers of
the Marsh &amp; McLennan Companies, Inc. hereby appoint each of Katherine J. Brennan and Connor Kuratek as attorneys-in-fact for
the undersigned, with full power of substitution for, and in the name, place and stead of the undersigned, to sign and file with
the Securities and Exchange Commission under the Securities Act of 1933, any and all amendments (including post-effective amendments)
and exhibits to this registration statement on Form S-8 (or any other registration statement for the same offering that is to be
effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933) and any and all applications and other documents
to be filed with the Securities and Exchange Commission pertaining to the registration of the securities covered hereby, with full
power and authority to do and perform any and all acts and things whatsoever requisite and necessary or desirable, hereby ratifying
and confirming all that said attorney-in-fact, or his her substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed by the following persons in the following capacities on July 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5pt; width: 37%">
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">Signature&nbsp;</P></TD>
    <TD STYLE="width: 63%">
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">Title&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-indent: -9.35pt">/s/
Daniel S. Glaser&nbsp;</P></TD>
    <TD STYLE="text-align: center">Director, President and Chief Executive Officer <BR>
(Principal Executive Officer)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Daniel S. Glaser</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-indent: -9.35pt">/s/ Mark C. McGivney</P></TD>
    <TD STYLE="text-align: center">Chief Financial Officer<BR>
(Principal Financial Officer)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Mark C. McGivney</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-indent: -9.35pt">/s/ Stacy M. Mills</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Vice President and Controller</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Principal Accounting Officer)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Stacy M. Mills</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-indent: -9.35pt">/s/ Anthony K. Anderson</P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Anthony K. Anderson</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-indent: -9.35pt">/s/ Oscar Fanjul</P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Oscar Fanjul</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-indent: -9.35pt">/s/ H. Edward Hanway</P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>H. Edward Hanway</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-indent: -9.35pt">/s/ Deborah C. Hopkins</P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Deborah C. Hopkins</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-indent: -9.35pt">/s/ Tamara Ingram</P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Tamara Ingram</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-indent: -9.35pt">/s/ Jane H. Lute</P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Jane H. Lute</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt; text-indent: -9.35pt">/s/ Steven A. Mills</P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Steven A. Mills </TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">/s/ Bruce P. Nolop</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Bruce P. Nolop</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <TD STYLE="text-align: center; width: 63%">&nbsp;</TD></TR>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.35pt; text-indent: -9.35pt">/s/ Marc D. Oken</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.35pt; text-indent: -9.35pt"></P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Marc D. Oken</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.35pt; text-indent: -9.35pt">/s/ Morton O. Schapiro</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.35pt; text-indent: -9.35pt"></P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Morton O. Schapiro</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.35pt; text-indent: -9.35pt">/s/ Lloyd M. Yates</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.35pt; text-indent: -9.35pt"></P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Lloyd M. Yates</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.35pt; text-indent: -9.35pt">/s/ R. David Yost</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.35pt; text-indent: -9.35pt"></P></TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>R. David Yost </TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
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<DOCUMENT>
<TYPE>EX-5.3
<SEQUENCE>2
<FILENAME>dp133195_ex0503.htm
<DESCRIPTION>EXHIBIT 5.3
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>EXHIBIT 5.3<BR>
</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">LETTERHEAD
OF MARSH &amp; McLENNAN COMPANIES, INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">July 31, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 380pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Marsh &amp; McLennan Companies, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1166 Avenue of the Americas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10036</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Re: Post-Effective Amendment to Registration Statement on
Form S-8 for the Marsh &amp; McLennan Companies, Inc. 2020 Incentive and Stock Award Plan </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">I am Deputy General Counsel, Corporate Secretary
&amp; Chief Compliance Officer of Marsh &amp; McLennan Companies, Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;),
and in such capacity I am rendering the opinions expressed below in connection with the preparation and filing of this Post-Effective
Amendment No. 1 to Registration Statement on Form S-8 (File No. 333-176084) and Post-Effective Amendment No. 1 to Registration
Statement on Form S-8 (File No. 333-209684) (the &ldquo;<B>Post-Effective Amendment</B>&rdquo;) under the Securities Act of 1933,
as amended (the &ldquo;<B>Securities Act</B>&rdquo;), for the registration of up to 15,643,561.497 shares of common stock, par
value $1.00 per share (the &ldquo;<B>Shares</B>&rdquo;), of the Company relating to the Prior Plan Shares (as defined below) authorized
for issuance under the Marsh &amp; McLennan Companies, Inc. 2020 Incentive and Stock Award Plan (the &ldquo;<B>2020 Plan</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; background-color: white">On May 21, 2020
(the &ldquo;<B>Effective Date</B>&rdquo;), the stockholders of the Company approved the 2020 Plan. The total number of shares of
the Company&rsquo;s Common Stock, par value $1.00 per share (the &ldquo;Common Stock&rdquo;), that may be issued pursuant to the
2020 Plan includes, in addition to 20,000,000 new shares of Common Stock (registered concurrently on a new Registration Statement
on Form&nbsp;S-8), any shares subject to outstanding awards under the Marsh &amp; McLennan Companies, Inc. 2011 Incentive and Stock
Award Plan that, on or after the Effective Date, are forfeited, cancelled, exchanged or surrendered without the issuance of shares
of Common Stock (the &ldquo;<B>Prior Plan Shares</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with rendering such opinions,
I or an attorney acting under my general supervision (all references herein to acts taken by me include acts by an attorney acting
under my general supervision) have reviewed the Post-Effective Amendment, the Restated Certificate of Incorporation and Bylaws
of the Company, the 2020 Plan and resolutions duly adopted by the Board of Directors of the Company relating to the 2020 Plan and
have examined originals or certified, conformed or reproduction copies of such documents, corporate and other records of the Company
and certificates of governmental officials and officers of the Company, and have made such investigations of law, as I have deemed
necessary or appropriate for the purposes of such opinions. In all such examinations, I have assumed without investigation the
legal capacity of all natural persons executing documents, the genuineness of all signatures on original or certified copies, the
authenticity of all original or certified copies and the conformity to original or certified documents of all copies submitted
to me as conformed or reproduction copies. I have relied as to factual matters upon, and have assumed the accuracy of, the statements
made in certificates of officers of the Company delivered to me, and certificates and other statements or information of or from
public officials and officers and representatives of the Company and others.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Based solely upon the foregoing, and in
reliance thereon, and subject to the limitations, qualifications and exceptions set forth herein, I am of the opinion that the
Shares to be issued under the 2020 Plan have been duly authorized and, when issued and delivered in accordance with the terms of
the 2020 Plan, will be validly issued, fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">I am a member of the Bar of the State of
New York. The opinions expressed above are limited to the Delaware General Corporation Law as currently in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">I hereby consent to the filing of this opinion
as an exhibit to the Post-Effective Amendment. In giving this consent, I do not hereby admit that I come within the category of
persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Securities and Exchange
Commission thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 91%; font-size: 10pt">Sincerely,</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/ Katherine J. Brennan</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Katherine J. Brennan</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Deputy General Counsel, Corporate Secretary &amp; Chief Compliance Officer</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="font-size: 10pt; width: 100%">&nbsp;</TD></TR>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>dp133195_ex2301.htm
<DESCRIPTION>EXHIBIT 23.1
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>EXHIBIT 23.1</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">CONSENT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We consent to the incorporation by reference
in this Registration Statement on Form S-8 of our reports dated February 20, 2020, relating to the consolidated financial statements
of Marsh &amp; McLennan Companies, Inc. (the &ldquo;Company&rdquo;) and the effectiveness of the Company&rsquo;s internal control
over financial reporting, appearing in the Annual Report on Form 10-K of Marsh &amp; McLennan Companies, Inc. for the year ended
December 31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">/s/ DELOITTE &amp; TOUCHE LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">New York, New York</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">July 31, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

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