NU Online News Service, March 9, 12:28 a.m. EST

Marsh & McLennan Companies would not comment today on reports it may be seeking buyers to sell the remainder of its interest in its Kroll risk management services operation.

New York-based MMC, the parent company of insurance broker Marsh and reinsurance broker Guy Carpenter, is reportedly working on a transaction worth $1.3 billion, according to Financial Times.

MMC purchased Kroll in 2004 for $1.9 billion from Jules Kroll, who retired from MMC in 2008. He founded the company in 1972 as a consultant to corporate purchasing departments.

In a filing with the Securities and Exchange Commission, MMC said its risk consulting and technology segments, which conduct business through Kroll, generated approximately 6 percent of the company's business in 2009. In 2009, revenues from Kroll stood at $667 million, down 16 percent from the previous year's $797 million.

The firm has 3,000 associates in 32 countries, selling its services to law firms, financial institutions, corporations, nonprofits, government agencies and individuals.

The division is currently run by Ben F. Allen, president and chief executive officer of Kroll.

Last year MMC sold Kroll Government Services. During the first quarter of this year MMC sold Kroll Laboratory Specialists for $110 million.

MMC reported that it eliminated 200 positions at Kroll in 2009.