The company was founded in 1845 in New York as Jones & Johnson by Walter Restored Jones, Jr. and Henry Ward Johnson. In 1854, the company was renamed when A. Foster Higgins replaced Jones who left to do business on his own. In 1996, the company acquired Corporate Risk PLC, the largest independent insurance broker in Scotland. In 1997, it was acquired by
Marsh McLennan for $1.8 billion. Of the sale proceeds, $1.01 billion went to J&H's active directors and shareholding managing principals, $500 million was earmarked for 600 key J&H employees, and $297 million was paid to 40 retired directors; however, the retired directors sued, alleging that they were shortchanged. ==Legal issues==