Willis posts organic growth but exceptional costs hit
Global broker Willis has followed rivals in posting strong first-quarter results with 4 percent organic growth in fees and commissions.
However, net income was down to $34mn from $204mn in the same period last year due to exceptional costs.
These include $171mn paid to make whole amounts on the repurchase and redemption of senior notes on the firm's most expensive debt.
The broker also suffered a $97mn charge relating to its ongoing operational review, which is expected to cost it...
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