Willis reports rising profits
by Richard Kilner
Story link: Willis reports rising profits
Global insurance broker Willis Group Holdings plc has reported its financial results for Q2 and the first six months of 2010.
Willis earnt net profits of $89m, or $0.52 per diluted share, in the second quarter, a marginal rise on the $87m net profit ($0.52 per diluted share) made in the corresponding period last year.
Revenues for the quarter increased by $15m to $799m, with total commissions and fees up 2% to $789m.
In the first six months of the year Willis made net profits of $293m, $1.71 per diluted share, up from $279m ($1.66 per diluted share) last year.
Total reported revenue for the first half of the year increased from $1.71bn to $1.77bn.
Chairman and Chief Executive Officer Joe Plumeri has said that the firm’s results reflects its geographic diversity and stated that he was pleased with the progress that Willis had made during the first six months of 2010.