Willis has a 4% drop in fourth quarter revenues to $562m, from $588m for the same period last year.
The company said organic growth in commissions and fees excluding volume and profit-based contingent commissions and other market remuneration was 8% in the fourth quarter.
This was comprised of approximately 9% in net new business and a negative 1% impact from declining insurance premium rates and other market factors.
Joe Plumeri, chairman and chief executive officer said: "Our
results in the fourth quarter and throughout 2005 were the direct result of hard work in a year filled with challenges and opportunities.
Our 8% organic growth in commissions and fees reflects the strength of our sales culture. Our essential investments during the year helped us attract and retain the industry's best talent and enhance our value proposition for our clients.”
