Insurance broker Willis Group on Tuesday reported fourthquarter and full-year 2014 results, with quarterly earnings of $76million that exceeded Wall Street's expectations.
|Analysts had expected earnings of 45 cents per share in thequarter, but Willis reported 46 cents per share profits afteradjusting earnings for non-recurring costs. Overall, the firmgenerated $958 million in revenue in the fourth quarter.
|The insurance broker also took the opportunity on Tuesday toannounce a 3.3% dividend increase for 2015 to $0.31 per share andannounced a $175 million share buyback plan.
|Things weren't quite as rosy for the full year. The companyreported $362 million in net income for the 12 months ended Dec.31, 2014, compared to $365 million for the year-ago period, onreported revenue of $3.8 billion. The firm's operating margindipped 60 basis points in 2014 to 18%, from 18.6% in2013.
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