Willis reports net income of $1 million a day

Willis Group reported net income of $365 million in 2013, compared with a loss of $446 million in 2012. Total commissions and fees reached $3.6 million for the twelve months ended December 31, 2013, which equalled 4.9 percent growth in organic commissions and fees.

“Willis closed 2013 with another quarter of solid organic revenue growth, and each of our businesses achieved our goal of mid-single digit organic growth for the full year,” said Dominic Casserley, Willis Group CEO. “In addition, we delivered strong earnings per share growth and grew cash flow from operations during the year.

“Based on that performance, and confidence in our strategy, we are increasing our dividend by 7 percent. We also announced a share buyback to offset the increase in shares outstanding resulting from the exercise of employee stock options. As the new year begins, we are committed across the firm to our goals of growing revenues with positive operating leverage to improve ash flow and create strong shareholder returns.”

Willis reported fourth quarter net income from continuing operations of $68 million.