H. Edward Hanway, fresh off his retirement from health insurer CIGNA, was elected to the board of directors for Marsh & McLennan Co.

H. Edward Hanway

Hanway, 57, served as chairman and chief executive officer of CIGNA from 2000 to 2009. In late 2009, Hanway announced he was retiring and Philadelphia, Pa.-based CIGNA planned to split his duties, naming David M. Cordani as its CEO and Isaiah “Ike” Harris Jr. as company chairman, effective Jan. 1.

Stephen R. Hardis, chairman of MMC’s board of directors said the insurance broker is “delighted” to have Hanway on its board.

“His extensive insurance industry experience – as well as his significant efforts to improve the quality, accessibility and affordability of health care in the United States – make Ed an exceptional addition to the board,” Hardis said in a statement. “We look forward to his contributions in 2010 and beyond.”

MMC added that its board has determined that Hanway is independent from management under the company’s director independence standards, as well as for the purpose of New York Stock Exchange-listed company standards.

Hanway’s election now brings the MMC board to 12 members, including 11 independent directors.

Prior to his role as CIGNA’s chairman and CEO, Hanway served the health insurers as president and chief operating officer from 1999 to 2000, president of CIGNA HealthCare from 1996 to 1999, and president of CIGNA international from 1989 to 1996.

He also serves on the board of directors for the Alliance for Health Reform and is a former member of the America’s Health Insurance Plans board of directors.

MMC is the parent company of several risk experts and specialty consultants, including Marsh, the insurance broker and risk advisor; Guy Carpenter, a risk and reinsurance specialist; and risk consulting firm Kroll.