Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Drzik John
 2. Date of Event Requiring Statement (Month/Day/Year)
07/01/2006		 3. Issuer Name and Ticker or Trading Symbol
MARSH & MCLENNAN COMPANIES, INC. [MMC]
(Last)
(First)
(Middle)
C/O MERCER OLIVER WYMAN, 99 PARK AVENUE		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman, Mercer Mgt Consult.
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10016		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 16,400 (1)
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units   (2)   (2) Common Stock 5,834 $ (2) D  
Stock Options (Right to buy)   (3) 03/16/2014 Common Stock 14,287 $ 27.86 D  
Stock Options (Right to buy)   (4) 03/14/2016 Common Stock 45,000 $ 30.215 D  
Stock Options (Right to buy)   (5) 03/15/2015 Common Stock 55,000 $ 30.505 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Drzik John
C/O MERCER OLIVER WYMAN
99 PARK AVENUE
NEW YORK, NY 10016		       Chairman, Mercer Mgt Consult.  

Signatures

John Drzik 07/07/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(3) 10,715 of these options become exericsable on 7/1/2007 and the remaining 3,572 of these options become exercisable on March 17, 2008.
(1) Represents shares of restricted stock.
(5) These options vest in four equal annual installments on March 15th of 2006, 2007, 2008, and 2009. These options become exercisable only if, after they are vested, the price of MMC common stock is at least 15% higher than the exercise price of the options for ten consecutive trading days.
(4) These options vest in four equal annual installments on March 16th of 2007, 2008, 2009, and 2010. These options become exercisable only if, after they are vested, the price of MMC common stock is at least 15% higher than the exercise price of the options for ten consecutive trading days.
(2) Not Applicable

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