Exhibit 99.1

                    Willis Group Holdings Limited Announces
         Accelerated Share Repurchase of $150 Million of Common Shares


     NEW YORK--(BUSINESS WIRE)--Nov. 16, 2006--Willis Group Holdings Limited
(NYSE: WSH), the global insurance broker, today announced that it has entered
into an agreement to purchase approximately 3.8 million shares of its common
stock from an affiliate of Lehman Brothers, Inc. using an accelerated stock
repurchase program for an initial purchase price of $150 million. This
repurchase is part of Willis' previously announced stock repurchase program.

     "With significant financial flexibility, we are always considering how best
to manage and utilize our capital to serve the best interests of our
shareholders," said Joe Plumeri, Chairman and Chief Executive Officer Willis.
"This element of our stock repurchase program is one of the levers we have at
our disposal; it is both an economically attractive manner for us to deploy our
available cash while at the same time continuing to build shareholder value."

     Under the terms of the arrangement, the repurchased shares are subject to a
price adjustment based on the volume weighted average market price of Willis'
common shares during the term of the program. The Company expects the program to
be completed in the first quarter of 2007. All of the shares repurchased under
the agreement will be retired.

     Including this transaction, the company expects to repurchase 5.4 million
shares for $211 million during fiscal year 2006 and would have $789 million of
authorized share repurchases remaining under its existing buyback authorization.

     Willis Group Holdings Limited is a leading global insurance broker,
developing and delivering professional insurance, reinsurance, risk management,
financial and human resource consulting and actuarial services to corporations,
public entities and institutions around the world. With over 300 offices in more
than 100 countries, its global team of 15,400 Employees and Associates serves
clients in some 190 countries. Willis is publicly traded on the New York Stock
Exchange (NYSE: WSH). Additional information on Willis may be found on its web
site: www.willis.com.

     This press release may contain certain statements relating to future
results, which are forward looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from historical results or those
anticipated, depending on a variety of factors such as general economic
conditions in different countries around the world, fluctuations in global
equity and fixed income markets, changes in premium rates, the competitive
environment and the actual cost of resolution of contingent liabilities. Further
information concerning the Company and its business, including factors that
potentially could materially affect the Company's financial results are
contained in the Company's filings with the Securities and Exchange Commission.


    CONTACT: Willis Group Holdings Limited
             Investors:
             Kerry K. Calaiaro, +1 212-837-0880
             kerry.calaiaro@willis.com
             or
             Media:
             Dan Prince, +1 212-837-0806
             daniel.prince@willis.com