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Daily Insurance Industry News
Saturday 20th of January 2018
October 26, 2011

Willis reports Q3 and 9M profits

by Richard Kilner

Story link: Willis reports Q3 and 9M profits

Willis Group Holdings plc has reported its financial results for the third quarter and first nine months of 2011.

Willis reported quarterly net income of $60m, equating to $0.34 per diluted share, slightly down on the $64m ($0.37 per diluted share) it achieved in the same period last year.

The quarterly result was affected by a $15m charge related to the 2011 operational review.

Total reported revenues for the quarter came to $762m, a 4% improvement on the $733m of Q3 2010.

In the first nine months of the year Willis made net income of $179m, or $1.02 per diluted share, around half the $357m ($2.09 per diluted share) it made in the corresponding period last year.

Revenue in the first nine months of the year increased from $2,504m in 2010 to $2,633m in 2011.

Chairman and Chief Executive Officer Joe Plumeri stated that the firm enjoyed strong underlying performances from the Global and International segments despite challenging market conditions, and expressed his confidence that the firm was well-placed for growth in 2012.

 

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