Willis reports rising Q2 and H1 profits

by Richard Kilner

Story link: Willis reports rising Q2 and H1 profits

Global insurance broker Willis Group Holdings plc has reported that in the second quarter of 2012 it made net income of $107m, equating to $0.61 per diluted share.

This is an improvement on the $84m ($0.48 per diluted share) the firm achieved in the corresponding period last year but it less than half the $225m ($1.28 per diluted share) the firm made in Q1 2012.

In the first six months of the year Willis reported net income of $332m, equating to $1.89 per diluted share.

This is well over double the $119m ($0.68 per diluted share) the firm recorded in the first half of 2011.

Chairman and Chief Executive Officer Joe Plumeri said that the second quarter brought modest top line growth, and welcomed strong results in the Global segment.

Plumeri went on to say that recent quarters had tested Willis’ mettle but that the firm remained clear-eyed about the challenges ahead.