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Jeff Casale

Willis posts higher first-half revenue, net income

July 29, 2010 - 10:54am


NEW YORK—Willis Group Holdings P.L.C. reported higher revenues and net income for the first six months of 2010.

The insurance brokerage said Wednesday that its first-half 2010 revenues increased 3.5% to $1.77 billion compared with the first half of 2009.

Willis said its net income for the first six months of the year was $293 million, up 4.6% compared with the same period last year.

Willis credited a series of factors to its gain in net income, including net new business growth of 6%. “Partially offsetting net new business growth was a 2% negative impact from declining premium rates and other market factors,” Willis said in a statement.

Meanwhile, Willis said it had $25 million in commissions and fees, up from $19 million during the first six months last year.

For the second quarter, Willis reported that its net income was $89 million, up 2.2% from last year’s second-quarter results.

 



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