Willis produced triumphant results for 2002, showing operating cash earnings up 69% in the fourth quarter compared to the year before.
The UK-based global broker achieved a figure of $83m (£51.2m), up from $49m (£30.2m) in 2001.
Total revenues were up 25% to $483m (£299m) in the fourth quarter, compared to $387m (£238.7m) the year before. Year on year, revenues rose to $1.7bn (£1.07bn) from $1.4bn (£878.4m).
Organic revenue growth, excluding the effects of foreign exchange, acquisitions and disposals, rose to 18% for 2002, up from 12% in 2001.
The numbers gave Willis its twelfth consecutive quarter of record operating results, chief executive Joe Plumeri said.
Willis has been using its earnings to pay back $220m (£136m) of debt in the past year and will pay a quarterly dividend of 25 cents.
The company forecast that recent reserving by insurers - such as moves to protect against asbestosis claims - could keep the market harder for longer.
It reported directors' and officers' (D&O) rates increasing from 50% up to 200% and demand for alternative forms of protection.
"We've seen some levelling of property rates, but there's evidence of increased demand for alternative risk transfer solutions, including captives," it said.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
