Global broker Willis has reported a third-quarter profit of $US26 million ($25 million), down from $US60 million ($57.8 million) in the previous corresponding period, but outgoing Chairman and CEO Joe Plumeri says the company achieved organic growth of 2% in the quarter and has “turned the corner”.

Foreign currency movements contributed to a 1% fall in fees and commissions to $US749 million ($721.8 million). Earnings from Australasia fell.

Mr Plumeri says last year’s result was boosted by one-off benefits, and when incoming CEO Dominic Casserley and Deputy CEO Steve Hearn take over in January “they’ll steer a strong and streamlined company that is no longer working against the tide”.

For the nine months Willis earned commissions and fees of $US2.59 billion ($2.49 billion), a slight drop, but its profit doubled to $US179 million ($172.5 million).

The company reported a third-quarter $US11 million ($10.6 million) loss from its Indian operations after reaching a settlement with a former joint-venture partner and selling its business there.