Brought to you by:

Asia-Pacific boosts Marsh while Willis focuses on growth

Global broker Willis’ net income fell 2% in the quarter to June 30 as the costs of an operational review ate into profits.

The company reported a net profit of $US85 million ($81.4 million), which included an $US18 million ($17.2 million) charge from an operational review designed to align its resources to expansion strategies.

Willis’ revenue from commissions and fees rose 8% to $US854 million ($818 million).

Chairman and CEO Joe Plumeri says most of the review costs have been incurred now and Willis remains focused on achieving cost savings through the strategy.

Marsh & McLennan reported a strong performance from international operations in the second quarter.

Asia-Pacific revenue for the Marsh division grew by 21% to $US169 million ($161.8 million), or by 6% excluding the impact of currency movements, sales and acquisitions.

Marsh & McLennan group increased total revenue by 12% to $US2.9 billion (2.77 billion) in the quarter and net profit rose 19% to $US282 million ($270 million).

President and CEO Brian Duperreault says each of the group’s four operating companies produced strong growth in revenue and profitability.