Third-Quarter Earnings for Willis Drop
The world's third largest insurance broker, Willis Group Holdings Ltd., said on Wednesday that net income fell 46 percent in the third quarter, hurt by costs linked to its acquisition of rival Hilb Rogal & Hobbs.
Willis said net earnings dropped to $36 million, or 25 cents a share, from $67 million, or 46 cents a share, in the year-earlier quarter.
Willis has headquarters in both New York and London and is incorporated in Bermuda.
Published on October 23, 2008
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