Willis sees fourth-quarter and full-year profits slump
International broker Willis has announced its fourth-quarter 2005 and full-year results, showing a d...
International broker Willis has announced its fourth-quarter 2005 and full-year results, showing a drop in net income from $427m (£245m) in 2004 to £172m to the year ending 31 December 2005. Willis attributed the fall to first-quarter charges for regulatory settlements and related expenses, severance costs and other provisions. Total reported revenues for fourth-quarter 2005 decreased 4% to $562m from $588m for the same period last year. Net income for the quarter ended 31 December 2005 was $60m
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