Willis has reported revenues of $1.2bn in the first half of 2005, up 1.8% over the year-earlier period.
However, costs related to regulatory settlements and other factors dragged profits down 21.7% to $191m.
In the second quarter, the London-based brokerage recorded profits of $119m, up 24% over the second quarter of 2004, due in part to gains related to its sale of wholesaler Stewart Smith. Revenues rose 3.2% in the quarter to $549m.
In the first quarter, though, Willis paid $51m to resolve probes into its business practices related to contingent commissions by attorneys general in New York and Minnesota.
In addition, the brokerage set aside $20m to resolve further potential legal claims and took a $28m severance charge related to the elimination of roughly 500 positions.
Joe Plumeri, Willis' chairman and chief executive, said: "As we are taking on the challenges and realising the opportunities in the current industry environment, our core business remains strong."
He noted that he was particularly "pleased" with the brokerage's organic revenue growth in the second quarter, which was 4% excluding contingent commissions and other market remuneration.
