Willis announces Q4 and 2009 financial results

by Richard Kilner

Story link: Willis announces Q4 and 2009 financial results

Global insurance broker Willis Group Holdings plc has announced its financial results for the fourth quarter of 2009, and for the year as a whole.

For the quarter, the firm enjoyed net profits of $79m, or $0.47 per diluted share, significantly better than the $61m or $0.37 per diluted share made in Q4 2008.

It was also a marginal improvement on Q3 2009, when the firm made net profits of $78m, or $0.46 per diluted share.

Total net revenues for the quarter increased by more than $30m to $824m.

For the year as a whole, Willis recorded net profits of $436m, or $2.58 per diluted share, a substantial improvement on 2008 when total profits were $302m, or $2.04 per diluted share.

Chairman and Chief Executive Officer Joe Plumeri has described 2009 as a momentous year for Willis, with the firm managing to achieve organic growth of 2% in commissions and fees and emerge with a strengthened balance sheet despite all the difficulties in the global economy.