First quarter profits up at Willis
Broker reports “disappointing” Q1 performance for global insurance unit including UK.
Willis Group has reported profit of $246m [£146.3m] for the first quarter of 2014, up from $219m in the same period of 2013.
The firm's revenues rose 4.4% in the three months to $1.1bn (Q1 2013: $1.05bn).
The global segment which includes Willis UK achieved commission and fees of $442m (Q1 2013: $427m) but operating income slipped by $6m to $181m.
The business revealed that growth in the global segment was led by Willis Re and added: "The global insurance unit had a disappointing quarter, down
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