-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 G4f2hhRdoCHHkdcrynjZodEcz3A8bPqztfwkfXxaDzj+2c0t5p8NQ3EON3knxSGb
 MdcEil41rtwx2bmk1Y+gQQ==

<SEC-DOCUMENT>0001157523-04-010506.txt : 20041109
<SEC-HEADER>0001157523-04-010506.hdr.sgml : 20041109
<ACCEPTANCE-DATETIME>20041109122431
ACCESSION NUMBER:		0001157523-04-010506
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041108
FILED AS OF DATE:		20041109
DATE AS OF CHANGE:		20041109

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HAZEN PAUL
		CENTRAL INDEX KEY:			0001192055

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16503
		FILM NUMBER:		041128293

	MAIL ADDRESS:	
		STREET 1:		P O BOX 7070
		CITY:			CARMEL
		STATE:			CA
		ZIP:			93921

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WILLIS GROUP HOLDINGS LTD
		CENTRAL INDEX KEY:			0001140536
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE AGENTS BROKERS & SERVICES [6411]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		TEN TRINITY SQUARE
		CITY:			LONDON ENGLAND
		STATE:			X0
		ZIP:			00000
		BUSINESS PHONE:		0114402074

	MAIL ADDRESS:	
		STREET 1:		TEN TRINITY SQUARE
		CITY:			LONDON ENGLAND
		STATE:			X0
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>a4761842_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-11-08</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001140536</issuerCik>
        <issuerName>WILLIS GROUP HOLDINGS LTD</issuerName>
        <issuerTradingSymbol>WSH</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001192055</rptOwnerCik>
            <rptOwnerName>HAZEN PAUL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O WILLIS GROUP HOLDINGS LIMITED</rptOwnerStreet1>
            <rptOwnerStreet2>10 TRINITY SQUARE</rptOwnerStreet2>
            <rptOwnerCity>LONDON</rptOwnerCity>
            <rptOwnerState>X0</rptOwnerState>
            <rptOwnerZipCode>EC3P 3AX</rptOwnerZipCode>
            <rptOwnerStateDescription>UNITED KINGDOM</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Phantom Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-11-08</value>
                <footnoteId id="F2"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>541.85</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>36.147</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>541.85</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5169.77</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Phantom Stock units convert to common shares on a one-for-one basis.</footnote>
        <footnote id="F2">The transaction date is the date on which the shares were priced under the Willis Group Holdings Limited Non-Employee
Director's Deferred Compensation Plan and such shares credited to the reporting person's account within the plan.</footnote>
        <footnote id="F3">These shares of phantom stock become payable, in cash or common stock, at the election of the reporting person, upon the
reporting person's termination of service as a director.</footnote>
        <footnote id="F4">This total incorporates the addition of 23.14 shares from the reinvestment of dividends earned on the phantom units under
this plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Michael P. Chitty, as attorney-in-fact for Paul Hazen</signatureName>
        <signatureDate>2004-11-09</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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