Willis Group Holdings Public Limited Company announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. Willis Group reported net income of $219 million, or $1.24 per diluted share, for the quarter ended March 31, 2013. These results compared with reported net income of $225 million, or $1.28 per diluted share, in the comparable period a year ago. Notable items, in comparing reported net income between the two periods, include the $46 million charge in the first quarter of 2013 and, in the first quarter of 2012, $13 million related to the write-off of uncollectible accounts receivable and associated legal fees. Excluding the after-tax impact of these two items, adjusted net income for the first quarter 2013 was $257 million, or $1.46 per diluted share, compared with $233 million, or $1.32 per diluted share, in the same period a year ago. For the quarter, total revenues were $1,051 million, operating income was $287 million and income before income taxes and interest in earnings of associates was $256 million against total revenues of $1,013 million, operating income of $317 million and income before income taxes and interest in earnings of associates of $285 million a year ago. Adjusted operating income was $333 million against $330 million a year ago. The company provided tax rate guidance for the second, third and fourth quarters and full year of 2013. The full year tax rate is expected to be 22%, so the tax rate for quarters second, third and fourth, should range between 22% and 26%. The quarterly tax rate is impacted by a number of factors, including the proportion of U.S. income to total income. During the time the company remains in a cumulative 3-year loss position, higher percentages of U.S. income produced a lower tax rate.

Willis Global announced unaudited revenue results for the first quarter ended March 31, 2013. The company reported 3.5% growth in commissions and fees in the first quarter of 2013, compared with the first quarter of 2012. The change reflects 4.1% organic growth, a negative 0.4% impact from foreign currency movements, and a negative 0.2% impact from acquisitions and disposals.

Willis Group Holdings Public Limited Company announced that at its April 2013 Board meeting, the Board of Directors approved a regular quarterly cash dividend of $0.28 per share (an annual rate of $1.12 per share). The dividend is payable on July 15, 2013 to shareholders of record at June 28, 2013.