Slide 1: Willis Group Holdings Second Quarter 2013 Results
Exhibit 99.2 Willis2013 SECOND July, Group QUARTER Holdings 2013 RESULTS
Slide 2: Important disclosures regarding forward-looking statements
Important This covered All outlook, goals, ‘estimate’, There following: market insurance markets availability out these the to strategic earnings; impact with liabilities The included Although Company. themselves by 1so.borrow us In potential statements, share foregoing presentation non-core actions
Slide 3: Important disclosures regarding non-GAAP measures
Important This they accounting Consistent 2calculating provide presentation disclosures with these principles additional Regulation non-GAAP contains (GAAP) regarding meaningful references G,financial abasis. non-GAAP description methods These tomeasures “non-GAAP financial measures of ofsuch evalua
Slide 4: Summary
Summary Organic commission fee operating Reported Adjusted Willis $0.05 $0.03 3Q2 growth 2013 2012 negative benefit Global: North International: 6.3% Q2 organic reported $margin 19.2% EPS income financial 171 and America: 2012 from 1.5% $10.3% impact m 0.59 20.7% commission and $lower results 174 2.
Slide 5: Total expenses Q2 2013
See $Q2 Insurance 7.6%, Y-o-Y ??Driven 4Total depreciation millions Q2 important expenses expenses—underlying or FX7.0% by recovery movement 2013 growth disclosures on –2012 reported adjusted an— in underlying (4) 5other $regarding 719 $operating 715 $basis 663 668 $ Non-GAAP 668 8.4% 7.6% 7.0% Q2ex
Slide 6: Cash bonus accrual impact on salaries and benefits
$See Amortization adjusted retention 2012 Difference accrual Salaries assuming Above accrued S&B 5This millions important iscash would shows the throughout and awards cash bonus Q1 basis 4have benefits 12 of salaries Q2 disclosures bonus 17 cash on 63 been Q3 15 which and 63 –(59) $Q4 and 48 $12 63
Slide 7: Salaries and benefits
$See reported Y-o-Y adjusted Salaries Q2 underlying 6Increased millions Q2 2013 important FXand adjusted headcount, movement 2013 benefits benefits— disclosures 2012 salaries –higher 3 $529 532 regarding and production $benefits 500 5005.8% 6.4% Non-GAAP up incentives 5.8%; underlying measures as
Slide 8: Salaries and benefits assuming cash bonus accrual
See assuming $Q2 adjusted Y-o-Y Salaries In underlying repayment awards. 7that millions Q4 2012 bonus important do2012, FX not They accrued and benefits Assuming accrued with movement 2013 requirement include the benefits were disclosures how Company accrual throughout would throughout areplaced cas
Slide 9: Other operating expenses
$See –Insurance Y-o-Y Other Q2 underlying On This 8S ee millions reported adjusted Q2 2013: an important increase operating underlying FXOther recovery movement 2013was disclosures operating 2012 expenses expenses— basis primarily —(7)5(excluding $regarding expenses 155 driven $ 148 $ 134 129 $FX by
Slide 10: Appendices
APPENDICES Willis
Slide 11: Organic commissions and fees growth analysis
Important Three Foreign currency 2013 ($ Six Global North International Commissions 10 millions) months 2012 America months $305 $688 Organic Acquisitions disclosures Change ended %$282 $652 247 547 and ended % 333 696 241 530 %fees Fees June 8.2 5.5 translation 314 660 %June 2.5 3.2 regarding (2.3)
Slide 12: Adjusted operating income and margin reconciliation
Important (In 1Q Expense Excluding: Goodwill 2012 Write-off fees Net Insurance India Operating Adjusted 11 millions) 2Q loss 13 cash JV2Q —on reduction settlement Operating of impairment recovery disclosures income Income Margin bonus 13 YTD disposal unamortized uncollectible 2012 ——— 3Q accrual 31.
Slide 13: Adjusted net income and diluted EPS reconciliation
Important (In Excluding Expense Goodwill 2012 Write-off Insurance India Deferred Diluted Net Adjusted per 12 millions, diluted Income loss income 2013 cash JVshares on reduction settlement tax Net net of impairment recovery disclosures bonus the share disposal to from unamortized uncollectible excep
Slide 14: YTD total expenses
$ millions Expense Write-off accounts Insurance Y-o-Y Total Primarily Other If YTD 13 we YTD expenses—YTD expenses expenses—underlying 2013 2012 had operating FXreduction receivable uncollectible accrued driven recovery movement 2013 total–2012 expenses expenses adjusted by reported adjusted bonuses
Slide 15: YTD salaries and benefits
$See Expense reported Y-o-Y adjusted Salaries YTD underlying Increased 14millions important YTD 2013 FXand reduction headcount, movement 2013 adjusted benefits—YTD benefits benefits— disclosures 2012 initiative salaries –annual 5 $1,068 1,097 1,073 regarding and (29) salary $benefits 1,006 — 1,006
Slide 16: YTD salaries and benefits assuming cash bonus accrual
See assuming $YTD adjusted Y-o-Y Salaries In underlying repayment awards. that 15millions Q4important dobonus 2012 2012, FX not They accrued and benefits accrued movement 2013 requirement Assuming include with the benefits were disclosures Company accrual and how would throughout areplaced repayment
Slide 17: YTD other operating expenses
$See Expense Write-off accounts Insurance YTD –On Y-o-Y Other 16 underlying millions reported adjusted an important YTD 2013: operating underlying FXreduction receivable uncollectible recovery movement 2013 Other disclosures 2012 expenses expenses— basis operating initiative —(6) 5—(excluding $311 $
Slide 18: Investor Relations Contacts
SeeContacts IR Peter Mark Tel: Email: 17 important +1 Poillon Jones peter.poillon@willis.com mark.p.jones@willis.com 212 915-8796 915-8084 disclosures regarding Non-GAAP measures on page 2 and reconciliations starting on page 10
Slide 19: Willis Group Holdings Second Quarter 2013 Results
Willis2013 SECOND July, Group QUARTER Holdings 2013 RESULTS