Willis reports $27m loss
Broker sees profits take a tumble in third quarter.
Willis Group has reported a loss of $27m [£16.8m] for the third quarter of 2013 compared to a $26m profit in the same period of 2012.
The loss reduced the broking giant's profits for the first nine months of the year to $297m, also down on the same period of last year which came in at $359m.
The firm attributed the third quarter loss to recording a $60m cost for the early payment of debt and an expense of $1m for related fees.
Group
Across the group commission and fees income was up at $791m (Q3
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