Insurance broker Willis Group has reported a net income of $85m, or $0.48 per diluted share for the second quarter of 2011, compared to $89m, or $0.52 per diluted share, in the same period a year ago.
Total revenues for the second quarter of 2011 were $863m, an increase of 8% compared to $799m reported for the same period a year ago.
Adjusted net income for the second quarter of 2011 was $108m, up 13% compared to $92m in the corresponding quarter of 2010.
Net income for the first six months of 2011was $119m, or $0.68 per diluted share, compared with $293m, or $1.71 per diluted share, in the year ago period.
Willis Group Holdings chairman and CEO Joe Plumeri said the strength of their diversified global business was again shown by solid 3% organic growth in commissions and fees even with continued global economic pressures and little change in the overall rate environment.
"Delivering on our plan, adjusted operating margin grew modestly to 21.6% and adjusted earnings per diluted share grew 13% to $0.61," Plumeri said.