Willis Group Holdings reported a net income drop of $10m after its decision to abandon contingent commission incomes.
Willis' net income dropped to $108m in the 2004 fourth quarter compared to $118m in the fourth quarter of 2003.
Reported revenue grew 2% to $588m from $577m in the earlier period, despite the drop in profit- and volume-based contingent commissions to $25m from $39m a year earlier.
Net acquisitions added 6% to revenues while the effect of foreign currency translation reduced revenues 4%.
For the full year net income rose to $427m from $414m a year earlier, the company said.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
