Daily Insurance Industry News
Daily Insurance Industry News
Thursday 18th of October 2018
April 30, 2009

Willis reports Q1 profits

by Richard Kilner

Story link: Willis reports Q1 profits

Global insurance broker Willis Group Holdings Limited has announced its financial performance for the first quarter of 2009.

Earnings per diluted share from continuing operations stand at $1.15 with commissions and fees up almost a fifth (19%).

Reported net income totalled some $192m for Q1 2009, up from the Q1 2008 figure of $166m, and was substantially affected by a number of items particularly the acquisition of Hilb Rogal & Hobbs Company (HRH).

Revenues were also up on a like-for-like comparison, reaching $930m for this quarter compared to $795m previously.

Willis has also reported an adjusted operating margin of 29.8%.

Chairman and chief executive officer Joe Plumeri has welcomed the solid performance, particularly given the difficult economic and financial backdrop.


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