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Willis Celebrates 10 Years of Trading on the NYSE

^{Published on 2011-06-13 10:55:31 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Willis Group Holdings (NYSE: WSH) Chairman and CEO, Joe Plumeri, rang the Closing Bell at the New York Stock Exchange last week in recognition of the 10^th anniversary of the global insurance brokera™s public listing on June 12.

"Ringing the bell is like throwing the first pitch at Yankee Stadium. Ita™s an unbelievable feeling, and Ia™m so proud of what Willis has achieved. Wea™re here today to celebrate a terrific decade of client service, passion and shareholder return, which we hope to re-enact in the next 10 years."

Plumeri was joined by members of the Willis Board of Directors and the companya™s Executive Committee at the NYSE on Monday, June 6 to commemorate a defining moment in the brokera™s 183-year history.

After an interview with Maria Bartiromo on [ CNBCa™s Closing Bell ], Plumeri spoke to [ NYSE TV1 ] on the trading floor saying, aRinging the bell is like throwing the first pitch at Yankee Stadium. Ita™s an unbelievable feeling, and Ia™m so proud of what Willis has achieved. Wea™re here today to celebrate a terrific decade of client service, passion and shareholder return, which we hope to re-enact in the next 10 years.a

On June 12, 2001, Willis emerged from private ownership under Kohlberg Kravis Roberts & Co. and made a triumphant return to the NYSE under the leadership of Plumeri, who took the firm public just eight months after assuming the companya™s helm.

The decade that followed was one of the most tumultuous in the history of insurance, with regulatory upheavals, the global financial crisis and catastrophes like 9/11 and Hurricane Katrina wiping out billions of dollars from the insurance industrya™s balance sheet. Willis weathered these storms, with its stock price appreciating by over 200 percent since its IPO.

Willis today uploaded a video onto [ YouTube ] and [ Willis.com ] highlighting its 10 years as a public company, including 10 key milestones that have defined the Group:

1. When disaster struck on 9/11, Willis found itself in the middle of one of the largest insured losses in history. Amid the highly complex and contested claim proceedings that followed, Willis was publicly praised by its client, World Trade Center owner Larry Silverstein, for its aherculeana effort.
2. In 2004, when the insurance industry was rocked by former New York Attorney General Eliot Spitzera™s investigation into broking practices, Willis emerged a leader in transparency. The company renounced contingent commissions and issued the Client Bill of Rights, a ground-breaking document that spelled out Willisa™ commitment to the highest levels of integrity.
3. In November 2005, Willis became the first international insurance broker in China to be granted permission to hold a majority share in a fully licensed broking operation.
4. Launched in 2006, Shaping Our Future, Willis'on-going program of efficiency initiatives, has changed the way the broker does business, allowing it to invest in key growth and service projects. The effort resulted in over $150 million of net benefits in three years along with sector-leading results.
5. In 2008, Willis announced one of the largest M&A deals in the insurance broking industry: the $2.1 billion acquisition of Hilb, Rogal and Hobbs, then the eighth largest broker in the U.S. This combination doubled the companya™s footprint in North America, helping to realize Willisa™ vision of offering a truly local retail presence from coast to coast.
6. Willis changed the London skyline in 2008 with the addition of the iconic and highly regarded Willis Building on Lime Street, designed by Lord Foster, in the heart of the Citya™s insurance district.
7. A year later, Willis made similar headlines in Chicago when the tallest building in the Western Hemisphere, the former Sears Tower, was renamed Willis Tower and put the Willis name front and center in the key Midwest market.
8. In 2010, the first annual Willis CharityChase raised over $1 million for newly-launched [ Willis Foundation ], a nonprofit that supports charities in communities where Willis has a presence. Willis also began its Charity of the Year campaign in late 2009, raising 140,000 for The Adolescent and Childrena™s Trust (TACT). Willis Associates around the world have also raised hundreds of thousands of dollars for disaster relief in Haiti, Japan and Thailand.
9. In the spring of 2010, the issues of transparency and integrity came to the fore again as the ban was lifted on the big brokersa™ ability to accept contingent commissions. Willis was the only global broker to reiterate its firm refusal to take these forms of payment, and launched a public awareness campaign, [ Clients Before Contingents ], to point a better way forward for the industry.
10. In 2011, Willis capped an incredible decade by defining what it stands for and how it serves its clients through [ The Willis Cause ], a simple, powerful statement of what it means to be the worlda™s best insurance broker and risk management adviser.

With an illustrious history, and a Cause that puts clients first, Willis begins its second decade after the 2001 IPO with a renowned global presence and a limitless future.

Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 17,000 employees serving clients in virtually every part of the world. Additional information on Willis may be found at [ www.willis.com ].

Note to Editors: Please find attached a photo of Willisa™ Closing Bell ceremony. For more images from the event, visit Willisa™ [ Flickr page. ]

Photos/MultimediaGallery Available: [ http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6758008&lang=en ]