Willis sees gain in 2010 Q2 net income

Willis Group Holdings plc (NYSE: WSH) reported a net income of $89 million in 2010 Q2, a slight increase from the net income of $87 million in 2009 Q2.
Organic growth in commissions and fees grew 4% from 2009 Q2.
Net new business experienced a 6% growth over 2009 Q2, reflecting “strong new business generation of 16% and solid client retention,” a Willis release says.
Investment income was $10 million in 2010 Q2, a $2-million decrease from 2009 Q2, principally due to lower interest rates, Willis reports.
The company’s North American segment reported a 2% decline in commissions and fees in 2010 Q2.
“The segment continues to be impacted by headwinds from soft insurance market conditions and ongoing weakness in the U.S. economy,” the release says.