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Willis Group Q4 net income rises 24%

BBR Staff Writer Published 10 February 2011

Insurance broker Willis Group Holdings has reported a net income of $98m, or $0.57 per diluted share from continuing operations for the fourth quarter of 2010, compared to $79m, or $0.47 per diluted share, in the same period a year ago.

Adjusted net income from continuing operations for the fourth quarter of 2010 was $98m, compared to $80m in the same corresponding period of 2009.

Total revenues for the fourth quarter of 2010 were $835m compared to $824m for the same period last year.

Net income attributable for the common shareholders was $455m for the full year, or $2.66 per diluted share for the full year 2010, compared to $438m, or $2.59 per diluted share, in the same period a year ago.

Willis Group chairman and CEO Joe Plumeri said that Willis delivered strong organic growth of 4% in the fourth quarter, consistent with the organic growth that the company achieved for the full year 2010.

"Adjusted earnings per share grew 21% in the fourth quarter, while adjusted operating margin remained solid as we continued to support our growth," Plumeri said.