Willis releases third quarter financial results

by Richard Kilner

Story link: Willis releases third quarter financial results

Global insurance broker Willis Group Holdings Limited (NYSE: WSH) has released its financial results for the first nine months of 2009 and for the third quarter of this year.

For Q3, Willis made earnings per diluted share of $0.46, with total net income of $78m, compared to the same period last year when it made just $36m, or $0.25 per diluted share.

It marks a $9m decline from the $87m net income recorded for Q2 of this year.

Total revenue rose by a quarter, from $579m in Q3 2008 to $725m this quarter.

For the last nine months net income was $357m, up from $231m for the corresponding period in 2008.

Chairman and CEO Joe Plumeri has described the ongoing profits of the firm as a tribute to its diverse business, which has maintained profitability despite the continuing difficulties of the operating environment.