Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Willis Falls as Broker’s Profit Misses Estimates: New York Mover

Willis Group Holdings Plc, the third-largest insurance broker, fell the most since August after profit dropped, missing analysts’ estimates.

Willis declined $1.80, or 5.1 percent, to $33.45 at 12:22 p.m. in New York. Operating profit was 22 cents a share, missing the 30 cents average estimate of 19 analysts surveyed by Bloomberg.

Third-quarter net income plunged to $26 million, or 15 cents a share, from $60 million, or 34 cents, as revenue was “flat” in North America, the London-based company said in a statement yesterday. Salaries and benefits climbed to $502 million from $489 million.

“Despite the economic recovery and improving insurance rate environment, Willis’ relaxation of several recession-era expense controls will probably pressure 2013 margins,” Meyer Shields, an analyst at Stifel Nicolaus & Co., said in a note yesterday.

The broker has slumped 14 percent this year.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.