Willis has reported record profits for both the final quarter of 2001 and the full year ended December 31. Operating cash earnings for the fourth quarter rose to $94.6 million, compared to $34.7 million for the corresponding period in 2000.

Operating cash earnings for the year rose from $104.3 million in 2000 to $283.9, a result that new Chairman and CEO Joe Plumeri says confirms the company’s status as a premier global broker and client advocate.

Despite challenging market conditions, the company’s last-quarter net income was $52.1 million compared with $9.6 million in 2000.   

Long term debt has also decreased as a result of increased earnings, with a drop of 37% taking it from $2.3 billion to $1.5 billion. Mixed with a public offering of $527 million, this newest debt payment has postponed Willis’ next mandatory debt payment until 2005.