Willis Corroon profits rise

INTERNATIONAL insurance broker Willis Corroon lifted first nine months profits by 14 per cent to £75

INTERNATIONAL insurance broker Willis Corroon lifted first nine months profits by 14 per cent to £75.5 million before booking £8 million net profit commission receivable by its Lloyd's members agency. Third quarter profits earned on continuing operations were up as much as 57 per cent at £8.3 million, reflecting moves to improve profitability. The executive chairman, Mr John Reeve, said further profit improvement measures are expected to involve some £8 million cutback costs, notably through further redundancies.