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In the Nineties, the company had the chance to acquire two firms within the consolidating insurance coverage-brokerage business: Frank B. Corridor in 1992 and Alexander Alexander in 1996. The highest managers in the insurance coverage providers unit have been anxious to pursue both deals. Nonetheless, neither company met all three criteria, and Borelli refused to bend the principles. The insurance coverage services executives had been dismayed when a serious competitor, Aon, acquired each firms. When a chance to buy Minet came alongside in late 1996, the insurance coverage companies executives have been more anxious than ever to do the deal. Nonetheless, Borelli resisted that one as effectively. He thought it could be what he termed an enormous catastrophe” as a result of Marsh McLennan couldn’t protect itself towards contingent liabilities. By that time, the insurance coverage companies executives have been really upset with me, to say the least,” Borelli says.
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