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(Bloomberg) — Marsh & McLennan Cos., the largest insurance broker by market value, said the brother of the chief executive officer at its flagship unit was paid $1.07 million for his last full year with the company.

Jonathan Zaffino’s compensation as president of Victor O. Schinnerer & Co., a subsidiary, rose 2.7% from 2013, New York-based Marsh & McLennan said Friday in a proxy filing. He stepped down in February to join Everest National Insurance Co., where he is president of U.S. insurance operations. His brother Peter Zaffino is CEO of the Marsh insurance brokerage.

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