NU Online News Service, Feb. 10, 1:12 p.m. EST
Willis Group Holdings said its fourth quarter net income rose 20 percent based on new business and strong retentions, but its chief executive said modest growth is not acceptable and the firm is pushing a plan aimed at strengthening growth in the future.
The London-headquartered insurance brokerage said net income for the 2010 fourth quarter compared to the previous year increased $17 million to $103 million. Earnings per share rose 10 cents to 57 cents a share. Revenues grew by 1 percent, or $11 million, to $835 million.
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