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Willis Group at Annual Shareholder Meeting Reviews '08 Performance, '09 Outlook

Posted on 23 Apr 2009

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Global insurance broker Willis Group Holdings at its Annual Meeting of Shareholders on Wednesday at the School of Risk Management at St. John's University in New York City reviewed the company's 2008 performance and continued "Shaping our Future" strategy for 2009.

“In 2008, the combination of "Shaping our Future", our unrelenting focus on client service and retention, and diligent expense management enabled us to deliver peer-leading organic growth in commissions and fees and operating margin performance, even in the face of a soft insurance market and the global economic downturn,” Joe Plumeri, Chairman and CEO of Willis, told shareholders. “In particular, we saw exceptional growth in our International segment, and our acquisition of HRH is proving to be a financial and strategic win, with high client and producer retention and early delivery of synergies.”

Mr. Plumeri said Willis has solid underlying business fundamentals in place to help weather the current economic storm and position the company to capitalize further on business opportunities when conditions improve and markets harden. “We’re redoubling our efforts to grow our business in 2009, even as we aggressively manage our cost base to stay ahead of the game and prepare for future growth opportunities. We will continue to drive for industry-leading revenue growth, deliver on our Shaping our Future initiatives and move forward with our successful integration of Willis HRH in North America.”