UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


       Date of report (Date of earliest event reported): October 21, 2004

                          Willis Group Holdings Limited
- --------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

                                     Bermuda
- --------------------------------------------------------------------------------
                 (State or Other Jurisdiction of Incorporation)

              001-16503                                    98-0352587
- --------------------------------------------------------------------------------
      (Commission File Number)                 (IRS Employer Identification No.)


                               Ten Trinity Square
                            London EC3P 3AX, England
- --------------------------------------------------------------------------------
                    (Address of Principal Executive Offices)


                               (44) (20) 7488-8111
- --------------------------------------------------------------------------------
              (Registrant's Telephone Number, Including Area Code)


                                 Not Applicable
- --------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

|_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))




Item 8.01. Other Events.

     On October 21, 2004, Willis Group Holdings Limited ("WGHL") issued a press
release (the "Press Release") announcing that it is ending the practice of
accepting contingency payments from insurers. A copy of the Press Release is
attached as Exhibit 99.1 to this Report on Form 8-K and is incorporated herein
by reference.


Item 9.01. Financial Statements and Exhibits.

      (c)  Exhibits.

           99.1  Press Release of WGHL dated October 21, 2004




                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                  WILLIS GROUP HOLDINGS LIMITED


Date: October 27, 2004                            By: /s/ William P. Bowden, Jr.
                                                      --------------------------
                                                  Name:   William P. Bowden, Jr.
                                                  Title:  General Counsel




                                  EXHIBIT INDEX


   Exhibit No.                      Description
   -----------                      -----------

      99.1                          Press Release of WGHL dated October 21, 2004