Willis Group Holdings Limited reported 2007 fourth-quarter net income dropped 36 percent but still managed to beat analysts’ earnings per share estimates by 7 cents a share.

The London-based insurance brokerage firm reported today that its net income in the fourth quarter dropped to $95 million, off by $53 million compared to the same period last year, translating into earnings per share of 66 cents, a 28 cent decline over 2006. Revenues rose 3 percent, or $18 million, to $639 million.

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