Johnson & Higgins
Professional services
UnclaimedA historic American insurance brokerage and risk-management firm that became part of Marsh & McLennan in 1997.
Last updated August 24, 2026
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Overview
Johnson & Higgins was an American insurance brokerage founded in New York in 1845. It began as Jones & Johnson, established by Walter Restored Jones, Jr. and Henry Ward Johnson, and adopted the Johnson & Higgins name in 1854 after A. Foster Higgins joined the business and Jones departed to pursue independent commercial activities. Over the following century and a half, the firm developed from a regional broker into one of the largest and most internationally significant insurance intermediaries. The company’s core business was arranging commercial insurance coverage and providing related brokerage and risk-management services. Its work connected corporate and institutional clients with insurers, helped structure complex coverage, and eventually extended into reinsurance. By 1900, Johnson & Higgins had offices in eight cities and employed 75 people, indicating that it had already built a substantial multi-office platform during the early development of the American insurance industry. Johnson & Higgins was involved in several notable transactions and periods of expansion. In 1912, it brokered the United States portion of the insurance coverage for the Titanic, reportedly at a nominal rate. In 1923, the acquisition of Albert Willcox & Co. strengthened the firm’s position in reinsurance. Later acquisitions, including Don Miller Company in 1964 and Scotland-based Corporate Risk PLC in 1996, broadened its capabilities and geographic reach. The 1996 transaction was particularly important because Corporate Risk PLC was described as Scotland’s largest independent insurance broker. For much of its existence, Johnson & Higgins operated as an independent brokerage with a substantial partnership and management-owner structure. That structure became central to the outcome of the company’s final years. In 1997, Marsh McLennan acquired Johnson & Higgins for $1.8 billion, ending its independent existence and integrating its operations into the larger Marsh organization. Contemporary descriptions of the transaction allocated proceeds among active directors and managing principals, selected employees, and retired directors. The distribution later became the subject of litigation by retired directors who alleged that they had received less than they were entitled to. The firm also faced an age-discrimination lawsuit arising from a policy requiring members of its board of directors to retire at age 62. In 1999, after the acquisition, Johnson & Higgins agreed to pay $28 million to settle the case. Because the company was absorbed into Marsh & McLennan, Johnson & Higgins no longer operates as an independent brand. Its historical significance lies in its longevity, its role in the development of large-scale commercial insurance broking and reinsurance services, and its place in the consolidation of the global insurance-brokerage industry during the 1990s.
History
Johnson & Higgins originated in New York in 1845 under the name Jones & Johnson. The founding partners were Walter Restored Jones, Jr. and Henry Ward Johnson. The enterprise operated in an era when American commerce was becoming increasingly dependent on organized insurance markets, and its early development reflected the growing importance of intermediaries able to arrange coverage for commercial clients. In 1854, the business adopted the Johnson & Higgins name after A. Foster Higgins replaced Jones, who left to conduct business independently. This reorganization established the identity that the firm retained for the rest of its independent history. The company expanded beyond a single New York office and, by 1900, maintained offices in eight cities with a workforce of 75 employees. That footprint placed it among the substantial insurance-brokerage organizations of the period. The firm’s historical profile included work on major and technically complex risks. In 1912, it brokered the United States portion of the insurance covering the Titanic, with the coverage reportedly arranged at a nominal rate. The episode is one of the best-known examples associated with the company, although the firm’s broader business consisted of recurring commercial insurance and risk-management work rather than individual headline transactions. Johnson & Higgins entered the reinsurance field more decisively in 1923 through its acquisition of Albert Willcox & Co. Reinsurance broadened the firm’s role in the insurance market by placing it between insurers and other risk-bearing institutions as well as between commercial policyholders and primary insurers. The company continued to expand through acquisitions, including Don Miller Company in 1964. During the late twentieth century, Johnson & Higgins remained a major independent insurance broker while the brokerage sector became increasingly international and consolidated. Its 1996 acquisition of Corporate Risk PLC expanded the firm in Scotland and was significant because Corporate Risk PLC was described as the country’s largest independent insurance broker. The deal illustrated Johnson & Higgins’s effort to strengthen its international platform shortly before the company itself became the target of a larger industry transaction. In 1997, Marsh McLennan acquired Johnson & Higgins for $1.8 billion. The reported allocation of the sale proceeds included $1.01 billion for active directors and shareholder-managing principals, $500 million designated for 600 key employees, and $297 million for 40 retired directors. The distribution generated a dispute, with retired directors filing suit and alleging that their share of the proceeds was inadequate. The acquisition ended Johnson & Higgins as an independent brokerage and placed its activities within Marsh’s broader business. The company also faced litigation concerning its governance and retirement practices. A lawsuit filed in 1993 alleged age discrimination arising from a rule requiring members of the board of directors to retire at age 62. In 1999, Johnson & Higgins agreed to a $28 million settlement. By that point, the firm had already been acquired, so the matter formed part of the legal aftermath of the company’s final independent period. Johnson & Higgins is now principally remembered as a long-established American insurance broker whose history reflects the evolution of commercial broking, reinsurance, international expansion, and late-century consolidation.
- 1999
Age-discrimination case settled
[1]The company agreed to a $28 million settlement in litigation concerning a mandatory retirement rule for board members.
- 1997
Acquired by Marsh McLennan
[1]Marsh McLennan acquired Johnson & Higgins for $1.8 billion.
- 1996
Corporate Risk PLC acquired
[1]The company acquired Corporate Risk PLC, described as Scotland’s largest independent insurance broker.
- 1964
Don Miller Company acquired
[1]Johnson & Higgins expanded through the acquisition of Don Miller Company.
- 1923
Albert Willcox & Co. acquired
[1]The acquisition helped establish Johnson & Higgins in the reinsurance market.
- 1912
Titanic insurance placement
[1]Johnson & Higgins brokered the United States portion of the Titanic’s insurance coverage at a nominal rate.
- 1900
Eight-city operating footprint
[1]The company had offices in eight cities and employed 75 people.
- 1854
Johnson & Higgins name adopted
[1]A. Foster Higgins replaced Walter Restored Jones, Jr., and the business was renamed Johnson & Higgins.
- 1845
Business founded in New York
[1]Walter Restored Jones, Jr. and Henry Ward Johnson founded the firm as Jones & Johnson.
Products and positioning
Independent, high-end commercial insurance brokerage and risk-management services for corporate and institutional clients.
Insurance brokerage
Commercial insurance brokerage
Johnson & Higgins arranged insurance coverage for commercial and institutional clients. Its role as a broker involved helping clients structure coverage and place risks with insurers rather than selling a mass-market consumer insurance product under a standardized retail brand.
Reinsurance · 1923
Reinsurance brokerage
The acquisition of Albert Willcox & Co. in 1923 strengthened Johnson & Higgins’s position in reinsurance. This area extended the firm’s intermediary role into transactions involving insurers and other risk-bearing organizations.
Risk management
Risk-management consulting
Risk-management advice complemented the firm’s insurance-placement activities. The service category addressed the assessment and structuring of corporate risks alongside the purchase of insurance coverage.
Brand decisions
1999
Settlement of age-discrimination litigationOtherBackground
A lawsuit filed in 1993 challenged a company policy requiring members of the board of directors to retire at age 62.
Action taken
Johnson & Higgins agreed to pay $28 million to settle the age-discrimination case.
Aftermath
The settlement became part of the company’s legal history after its acquisition by Marsh McLennan.
Settlement amount. $28 million (1999)
1997
Sale to Marsh McLennanM&ABackground
Johnson & Higgins was a large independent insurance broker operating during a period of consolidation in the global brokerage industry.
Action taken
Marsh McLennan acquired the company for $1.8 billion, after which Johnson & Higgins ceased to operate as an independent firm.
Aftermath
The transaction integrated the firm into Marsh McLennan. The allocation of the sale proceeds later prompted litigation by retired directors who alleged that they had been shortchanged.
Acquisition value. $1.8 billion (1997)
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