Willis revenue, profits rise in first quarter

NEW YORK--Willis Group Holdings Ltd. reported higher revenue and profits for the first quarter of 2007.

Gross revenues at the London-based brokerage increased 10.1% to $739.0 million, while net income rose 20.7% to $169.0 million.

Net new business won in the first quarter translated into 6% organic revenue growth, the brokerage said, noting that each of its business units contributed.

"Our results by every measure show we are off to a solid start in 2007, and we once again delivered good organic revenue growth despite a softening market," said Joe Plumeri, Willis' chairman and chief executive officer, in a statement.