Willis has posted 10% organic growth for the second quarter of 2006. The broker's total reported revenues for the period were $593m, compared with $549m for the same period in 2005.
Reinsurance was a particularly strong sector, showing double-digit growth.
The company's net income was $72m, compared with $114m the previous year. Joe Plumeri, chairman and chief executive, said: “Our 10 percent organic revenue growth is a clear demonstration of the effectiveness of our sales culture.”
Willis' board has also increased its share repurchase plan from $500,000 to $1bn. Plumeri, said the authorisation of the buyback was “a clear indicator of the board's confidence in the future of Willis and a recognition that our best use of capital is to invest in ourselves”.
He added: “We remain focused and committed to the Shaping our Future initiatives which are designed to drive revenue and profitable growth…we expect an even more significantly positive impact on our results in 2007 and beyond”.
