Third-largest broker Willis is continuing its steady growth under Chairman and CEO Joe Plumeri, with record earnings for the last quarter of 2002. The $816 million last-quarter profit was 25% better than the previous year, with “organic revenue growth” of 19%.

It was the 12th consecutive quarter of record revenue and operational earnings, the company said. Reported revenues for 2002 were up 22% to an estimated $2.9 billion, with an organic growth of 18%.

Mr Plumeri said the result “further validates our model as a global broker specialising in providing risk management services”.

“We are proving every day that a global company can provide local, client-focused delivery and service.”