Marsh McLennan, Aon and Willis Towers Watson have all announced they are exiting their business in Russia in response to Vladimir Putin’s invasion of Ukraine.
Marsh, the biggest captive manager in the world, published a statement last week stating the organisation felt “compelled” to do this given the current situation in Ukraine.
“We condemn the unprovoked attack by the Russian government against the people of Ukraine,” President and CEO Dan Glaser said. “Having watched with horror the tragic human toll in Ukraine, we feel compelled to take this action.
“We intend to transfer ownership of our Russian businesses to local management who will operate independently in the Russian market. This is not a decision that we have taken lightly, and we join all those calling for a swift and peaceful resolution to this deadly conflict.”
On Sunday 13 March Willis Towers Watson announced it would be withdrawing from Russia, via a statement from WTW CEO Carl Hess.
“We continue to be dismayed by the crisis in Ukraine. WTW remains steadfast in our support for all our colleagues and their families in the region who have been affected,” Hess said. “We wholeheartedly wish for a peaceful solution.
“WTW intends to transfer ownership of our Russian businesses to local management who will operate independently in the Russian market. While we strongly believe this is the right decision, it was not made in haste nor without consideration for our dedicated Russian colleagues.”
A day later, on Monday 14 March, Aon announced that they were “suspending” operations in Russia.
“The escalation of the conflict in Ukraine continues to cause the senseless loss of life to innocent civilians, and the intentional destruction of schools, civilian property and infrastructure. It is why we have made the decision to suspend operational activity in Russia, including putting our colleagues in Russia on paid leave.
“Right now, our primary focus is on the safety and well-being of our colleagues in Ukraine and our colleagues’ families, and those in Russia who might be adversely impacted. And we will continue to monitor the situation to determine if we will take further actions.”
