Willis Group Holdings announced an investor conference today in New York City from 1:00 p.m. to 5:00 p.m. EDT. Willis, which last week reported its third consecutive quarter of strong top line growth, said today’s conference will “focus to the road ahead, outlining a strategy for continued growth that closely aligns the company’s three business units: Willis North America, Willis International and Willis Global.
“Group CEO Dominic Casserley, who joined Willis in January 2013 and launched a full review of operations, will lead the discussion at the investor conference, joined by four members of the company’s senior management team, Chief Financial Officer Michael Neborak, Willis North America CEO Todd Jones, Willis International CEO Tim Wright, and Willis Global CEO Steve Hearn, who also serves as Deputy CEO of Willis Group.”
The team plans to give details as to “where, and how, the company intends to focus its resources and compete across its global footprint in the months and years ahead.” Areas include a “range of geographies, products and industries where the company’s scale, talent and expertise will allow it to grow market share and earnings while maintaining its traditional cost discipline.”
“Over the past six months, we have taken the measure of our business from both the outside and inside, meeting with our clients from around the world to understand their needs for greater resilience in an increasingly complex world, and also learning from our Associates about what makes Willis unique in how we serve the market,” said Casserley. “The key to Willis, as we move forward, will be to deploy our deep industry knowledge and analytic expertise more powerfully across our geographies, bringing them to our clients where they need it most.”
Willis indicated that its strategy will “involve investing selectively in growth markets, defined by geography, industry sector and client segment. Willis will bring to its clients across the world greater access to Willis’s leading positions in specialty areas, such as Marine, Energy and Aerospace, among others.”
It also expects to “rebalance its portfolio of businesses toward high-growth markets, which now comprise approximately 20 percent of the firm’s revenues, towards approximately 30 percent over the medium term.”
Willis said it would also “increase investment in, and deployment of, its analytical capability,” an area where it is quite competent. The management team will discuss how those capabilities will be more broadly distributed to its insurance and reinsurance clients around the world.
The company will “lay out for investors that it intends to deliver consistent organic revenue growth in the mid-single digits,” the bulletin continued. Willis also aims to “target revenue growth to outpace expense growth by more than 70 basis points. This will lead to a significant increase in cash flow and, the company expects, will ultimately generate attractive returns for shareholders.”
Casserley added: “We operate in a world where mitigating risk is a fundamental part of the agenda of corporate boards, and this will be a significant global growth market. With a footprint across 90 countries, strong risk expertise and deep client relationships, we believe there is significant room for us to grow.”
Source: Willis Group Holdings
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