Willis Group says second-quarter revenue grew 5.1% to $US935 million ($998.9 million), with commissions and fees up 4.5%.

However, the company admits growth was “more than offset” by increased expenses in the areas of recruitment and operational improvement.

Most growth came in North America and emerging markets, including “modest” gains in the underwriting business.

CEO Dominic Casserley says Willis performed well “against a backdrop of more challenging market conditions and significant investments for growth by us over the past 12 months”.

The result is a “good indicator” of what the company is capable of achieving, he says.

Willis reported a net profit of $US47 million ($50.2 million) for the second quarter, down from $US105 million ($112 million) in the corresponding period last year.

For the six months to June 30, Willis has reported a net profit of $US293 million ($313 million), down from $US324 million ($346 million).

Total commissions and fees were $US2.02 billion ($2.16 billion) for the half-year, compared with $US1.93 billion ($2.06 billion) in the corresponding period last year.