Marsh & McLennan Cos. completed the sale of its risk consulting business, Kroll Inc., to Altegrity Inc., a firm led by former Marsh CEO Michael Cherkasky, for $1.13 billion in cash, less than the amount the insurance broker paid for it six years ago, according to reports.

New York-based Kroll employs 3,000 people and focuses on investigative, intelligence, financial, security and technology services.

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