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 | Source: Willis Towers Watson US LLC

SINGAPORE, Sept. 07, 2026 (GLOBE NEWSWIRE) -- Willis, a WTW business (NASDAQ: WTW), today announced the appointment of Trevor Madden as Head of Captive and Insurance Management Solutions, Asia Pacific, effective 1 November 2026.

Based in Singapore, Trevor will lead Willis’ Captive and Insurance Management Solutions business across the region. He succeeds Joyce Chua, who is leaving the company to pursue personal priorities.

Peter Carter, Global Head of Captive and Insurance Management Solutions said: "Captives and alternative risk financing solutions are playing an increasingly strategic role in how organisations manage risk, deploy capital and strengthen resilience. Across the region, we continue to see growing interest from businesses seeking more sophisticated approaches to risk financing as they navigate an increasingly dynamic and interconnected risk environment.

“Trevor brings exceptional leadership experience, deep technical expertise and a proven track record of helping companies maximise the value of their captive and insurance management structures. His extensive experience across captive operations, governance, underwriting and regulatory engagement makes him ideally positioned to lead our Captive and Insurance Management Solutions business in Asia Pacific.

“I would like to also thank Joyce for her contributions to our Captive and Insurance Management Solutions practice in Asia Pacific. Under her leadership, we have strengthened our market presence and deepened our relationships with clients. We wish her every success in the future."

Christopher Lindsey, Managing Director, Risk & Analytics, Asia, added: "We are delighted to welcome Trevor to his new role in Singapore. His appointment reflects our continued commitment to investing in Asia Pacific, one of the most dynamic and strategically important captive markets globally. As organisations across the region face increasingly complex and interconnected risks, captives solutions are becoming an essential component of sophisticated risk financing and resilience strategies.

“By combining our market-leading Risk and Analytics capabilities with deep captive expertise, Willis is well positioned to help clients in Asia design captive solutions that deliver greater clarity, resilience and cost efficiency.”

Trevor joins the Asia Pacific team from the company’s captive management operation in Dublin, Ireland, where he has held a number of senior leadership positions since 2003, most recently as a Managing Director. He brings more than 35 years of experience in the international insurance and reinsurance industry, with extensive expertise in captive management, underwriting, regulatory governance, risk management and business development. During his career, he has led teams responsible for the management and oversight of captive insurers and reinsurers operating across multiple jurisdictions. He has worked closely with organisations on the establishment, expansion and optimisation of captive insurance programmes.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success and provide perspective that moves you. Learn more at wtwco.com.

Media Contacts

Clara Goh        +65 6958 2542
[email protected]

LONDON, Sept. 02, 2026 (GLOBE NEWSWIRE) -- Leading global advisory, broking and solutions company, WTW, (NASDAQ: WTW), has become the official insurance partner of the Barclays WSL and WSL2 in a new multi-year partnership.

The partnership unites two organisations with a shared ambition to support people and build a stronger future. WTW’s expertise in helping people and organisations understand risk, build resilience, make informed decisions and create conditions for stronger performance is a natural fit with WSL Football’s ambition to transform women’s football into the world’s most distinctive club competition for the players and fans of today and tomorrow.

Over the course of the partnership, WTW will collaborate with WSL Football and clubs from the BWSL and BWSL2 to explore solutions designed to support female athletes and help advance the game. A key pillar of the collaboration is the intention to co-create an insurance solution designed specifically for players at BWSL and BWSL2 clubs which will help transform how they are supported and protected throughout their careers.

While injuries are an unavoidable part of football, female players can face different health considerations and risk exposures than their male counterparts. The need for tailored cover has become increasingly clear as the women’s game has grown and professionalised.

For players, appropriate insurance can help protect their earnings and provide greater financial security in the event of injury or illness. For clubs, it can help protect their investment in their players.

WTW adds to WSL Football’s world-leading roster of brand partners that are all driving transformational growth for the women’s game. 

Zarah Al-Kudcy, Chief Revenue Officer, WSL Football, said:

“Ensuring we have the right protection and support in place for players during their careers and for clubs is an important part of building a truly professional and sustainable game.

“Bringing on WTW as a new partner with specialist expertise, whose people-first approach aligns with our values, means that together we can explore new ways to address the specific needs of women footballers and help create a stronger future for players, clubs and the wider game.

“Like all our WSL Football partnerships, it is more than investment into the league, it is investment into the whole women’s football ecosystem and ensures that the infrastructure around the game continues to develop alongside it.”

Carl Hess, CEO, WTW said:

“At WTW, our purpose is to transform tomorrows. We see this as the driving force behind everything we do -- and it's a vision shared by WSL Football.

“This long-term collaboration presents a unique opportunity to bring our risk, insurance and advisory capabilities to women's football. Our focus is on enabling players, clubs and leagues to thrive with confidence as the women’s game continues its rapid ascent on the world stage.

“We are proud to be working with WSL Football to drive meaningful, lasting impact.”

About WTW

WTW (NASDAQ: WTW) provides data driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues in more than 140 countries and markets, we help organizations sharpen strategy, enhance organizational resilience, motivate workforce performance and maximize value. Visit wtwco.com. 

About WSL Football

WSL Football is building the most distinctive, competitive and entertaining women's football club competition in the world for the players and fans of today and tomorrow. 

Our competitions represent the pinnacle of women's professional football in England, where the world's best players and 26 clubs compete for honours in the Barclays Women's Super League (BWSL), the Barclays Women's Super League 2 (BWSL2) and the Subway Players Cup. 

Media Contacts

Lauren David
[email protected]

 | Source: Willis Towers Watson US LLC

LONDON, Aug. 27, 2026 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company, announced that its Board of Directors approved a regular quarterly cash dividend of $0.96 per common share for the quarter ended June 30, 2026. The dividend is payable on or about October 15, 2026 to shareholders of record at the close of business on September 30, 2026.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

Learn more at wtwco.com.

CONTACT

INVESTORS
Claudia De La Hoz | [email protected]

LONDON, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Nearly half of the world's identified lithium resources are concentrated in South America's Lithium Triangle, making the region one of the most strategically important links in the global energy transition. New analysis from WTW (NASDAQ: WTW) and Cullen Hendrix at the Peterson Institute for International Economics, conducted by the Willis Research Network, shows how disruptions to trade, infrastructure or political stability across Chile, Argentina and Bolivia could trigger far-reaching consequences for businesses, investors and supply chains worldwide.

3 in 4 employers rank retirement savings as a high priority, while 4 in 5 are willing to use AI for plan analytics and monitoring August 03, 2026 09:58 ET  | Source: Willis Towers Watson US LLC

NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) -- U.S. employers are facing a clear retirement readiness challenge: they value defined contribution (DC) plans, but many still lack a precise view of whether those plans are helping employees retire on time and with confidence. That is according to the WTW 2026 Defined Contribution Survey from WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company. In the survey of 547 U.S. plan sponsors, 60% have a working definition of retirement readiness, split among income replacement (40%), retiring on time (39%) and retirement confidence (39%) (sponsors could select more than one option).

The finding underscores what WTW calls a retirement outcomes gap, now a growing business concern for employers. Employers are asking their DC plans to deliver more than ever: enhancing the employee experience (69%) and improving retirement outcomes (63%) top their objectives for the next two years, and three in four rank retirement savings as a core or top priority within total rewards. But many plans are still measured, governed and delivered for a different era, leaving a gap between what employers expect and what their plans are built to achieve. Sponsors are reassessing governance, resources and plan design to move beyond commitment to impact.

“The retirement outcomes gap is a call to action,” said Chris West, Senior Managing Director and Defined Contribution Strategy Leader, WTW. “Employers have invested heavily in retirement programs, but the next challenge is proving these programs are moving employees closer to retirement readiness. Advanced analytics can help sponsors see where gaps are emerging and what actions may matter most, leading to more impactful solutions and better outcomes.”

The survey shows where plans stall, and where employers are starting to act:

Averages hide the people at risk. Sponsors often monitor aggregate, plan-level metrics such as participation rates, but fewer break results down by employee group, where gaps in access, savings behavior and outcomes are often most visible.Plan design is being retooled for impact. Half of sponsors say minor or moderate retirement plan design updates are needed. As cost pressures persist, employers are looking for changes that make plans more relevant, flexible and aligned with retirement readiness goals.Plan governance continues to evolve. Closing the retirement outcomes gap will require many sponsors to rebalance time and resources spent on administration and governance. One in five sponsors are looking to delegate future delivery support, transferring administration and fiduciary responsibilities so their teams can spend more time on strategy focused on improving participant outcomes.Support stops before the finish line. Plans have gotten better at helping employees accumulate savings, but support diminishes when it matters most: the transition into retirement, when workers face critical decisions about their readiness and the prospective distribution and investment options that determine whether savings become sustainable income. To enhance support, 3 out of 10 sponsors are planning to offer an in-plan retirement income solution. The stakes extend beyond the benefits department. When employees do not feel ready to retire, they often do not, whatever their account balance says, and delayed retirements ripple into workforce planning, succession and talent costs. Employers in the survey consistently tie their retirement objectives to broader workforce goals, including attraction, retention and timely workforce transitions.

The retirement outcomes gap has new urgency as workers are increasingly confronted with large, abstract retirement savings targets. For many Americans, the workplace DC plan is their primary retirement vehicle, which puts employers at the center of translating those headline numbers into something a worker can act on.

“Headlines keep telling workers they need a specific amount of retirement savings. Even retirement professionals struggle to say what the numbers mean until they are translated into a monthly lifestyle,” said Dave Amendola, Managing Director and Intellectual Capital and Innovation Leader, Defined Contribution Strategy, WTW. “That is the gap employers are wrestling with: helping employees understand what their savings actually mean and supporting confident decisions that help convert an account balance into retirement income.”

Employers also see AI as part of the answer, in certain areas. Nearly four in five (79%) are willing to use artificial intelligence (AI) for plan analytics, 73% to automate routine processes and 72% to personalize employee communications. Willingness wanes as stakes rise: 37% for compliance and risk management, 33% for recordkeeper oversight and 29% for fiduciary governance, with data privacy and security the most common reservation (74%). The pattern reflects where accountability sits: sponsors are more comfortable when AI provides education, as opposed to when it touches fiduciary responsibilities.

“Employers are most comfortable using AI where it can make retirement programs more responsive, efficient and insight driven,” West said. “The opportunity is to use these tools to better engage participants, streamline administration and help sponsors understand where plan design, investment strategy and participant support can have the greatest impact.”

The survey suggests four steps for closing the retirement outcomes gap: define retirement readiness in measurable terms, use enhanced plan data and AI-enabled analytics to identify where support is needed, shift time and resources from administration toward outcomes, and extend more personalized support through the transition into retirement.

The complete findings are available in the WTW 2026 Defined Contribution Survey report.

About the survey

The WTW 2026 Defined Contribution Survey is based on responses from 547 U.S. employers that sponsor a defined contribution plan. Fieldwork was conducted between April 15 and May 22, 2026. Respondents skew large: over 60% hold at least $1 billion in DC plan assets, 42% have 10,000 or more employees, and 72% also manage a defined benefit plan.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success, and provide perspective that moves you. Learn more at wtwco.com.

Media contact

Dan Mahoney, Pierpont, [email protected], 970.405.8060

Arnelle Sullivan, WTW, [email protected]

Willis Towers Watson Public Limited Company (WTW) Q2 2026 Earnings Call July 30, 2026 9:00 AM EDT

Company Participants

Carl A. Hess - CEO & Director
Andrew Krasner - CFO & Co-head of Corporate Development
Lucy Clarke - President of Risk & Broking
Julie Gebauer - President of Health, Wealth & Career

Conference Call Participants

Michael Zaremski - BMO Capital Markets Equity Research
Elyse Greenspan - Wells Fargo Securities, LLC, Research Division
Charles Peters - Raymond James & Associates, Inc., Research Division
Andrew Kligerman - TD Cowen, Research Division
Robert Cox - Goldman Sachs Group, Inc., Research Division

Presentation

Operator

Good morning. Welcome to the WTW Earnings Conference Call. Please refer to wtwco.com for the press release and supplemental information that were issued earlier today. Today's call is being recorded and will be available for the next 3 months on WTW's website.

Some of the comments in today's call may constitute forward-looking statements within the meaning of the Private Securities Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties. Actual results may differ materially from those discussed today, and the company undertakes no obligation to update these statements unless required by law. For a more detailed discussion of these and other risk factors, investors should review the Forward-Looking Statements section of the earnings press release issued this morning as well as in the most recent Form 10-K and other subsequent WTW SEC filings.

During the call, certain non-GAAP financial measures may be discussed. To provide direct comparability with prior periods, all commentary regarding the company's revenue growth results will be on a non-GAAP organic basis unless specifically stated otherwise. For reconciliations of the non-GAAP measures as well as other information regarding these measures, please refer to the most recent earnings release and other materials in the Investor Relations section of the company's website.

For the quarter ended June 2026, Willis Towers Watson (WTW - Free Report) reported revenue of $2.47 billion, up 9.1% over the same period last year. EPS came in at $3.35, compared to $2.86 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $2.43 billion, representing a surprise of +1.56%. The company delivered an EPS surprise of +7.03%, with the consensus EPS estimate being $3.13.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Willis Towers Watson performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenue- Health, Wealth and Career: $1.27 billion versus $1.26 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +7.6% change.Revenue- Reimbursable expenses and other: $30 million compared to the $29.99 million average estimate based on five analysts. The reported number represents a change of +25% year over year.Revenue- Segment Revenue: $2.43 billion versus $2.4 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.3% change.Revenue- Risk and Broking: $1.16 billion versus $1.13 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.2% change.Segment Operating Income- Risk and Broking: $258 million versus $242.99 million estimated by five analysts on average.Segment Operating Income- Health, Wealth and Career: $306 million versus the five-analyst average estimate of $308.66 million.View all Key Company Metrics for Willis Towers Watson here>>>

Shares of Willis Towers Watson have returned +14.9% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Revenue1 increased 9% from prior year to $2.5 billion for the quarterOrganic Revenue growth of 5% for the quarter Diluted Earnings per Share was $2.43 for the quarter, down 27% over prior yearAdjusted Diluted Earnings per Share was $3.35 for the quarter, up 17% over prior yearOperating Margin was 14.8% for the quarter, down 150 basis points from prior yearAdjusted Operating Margin was 19.5% for the quarter, up 100 basis points from prior yearAnnounced Propel, WTW's AI Acceleration Plan, to further scale AI and automation across WTW, targeting approximately 30% Adjusted Operating Margin2 in 2028 while positioning the Company for future growthIncreased existing share repurchase authority by $1.5 billion LONDON, July 30, 2026 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW) (the “Company”), a leading global advisory, broking and solutions company, today announced financial results for the second quarter ended June 30, 2026.

“WTW delivered solid second quarter results, reflecting business momentum and disciplined execution,” said Carl Hess, WTW’s Chief Executive Officer. “This performance underscores the meaningful progress we've made embedding AI and automation across our business, enabling us to deliver higher-value client solutions and a more compelling colleague experience. Propel, WTW's AI Acceleration Plan announced today, builds on that foundation and is intended to further accelerate performance and enhance efficiency, creating value for shareholders and further strengthening WTW's differentiated position in the market. We remain confident in delivering on our full-year 2026 guidance and achieving our new 2028 margin target.”

Consolidated Results

As reported, USD millions, except %

Key MetricsQ2-26Q2-25Y/Y ChangeRevenue1$2,466$2,261Reported 9% | CC 8% | Organic 5%Income from Operations$364$368(1)%Operating Margin %14.8%16.3%(150) bpsAdjusted Operating Income$480$41915%Adjusted Operating Margin %19.5%18.5%100 bpsNet Income$231$332(30)%Adjusted Net Income$316$28511%Diluted EPS$2.43$3.32(27)%Adjusted Diluted EPS$3.35$2.8617% 1The revenue amounts included in this release are presented on a U.S. GAAP basis except where stated otherwise. The segment discussion is on an organic basis.2See “WTW Non-GAAP Measures” below with respect to forward-looking non-GAAP measures.
Revenue was $2.47 billion for the second quarter of 2026, an increase of 9% compared to $2.26 billion for the same period in the prior year. Excluding the impact of foreign currency, revenue increased 8%. On an organic basis, revenue increased 5%. See Supplemental Segment Information for additional detail on book-of-business settlements and interest income included in revenue.

Net Income for the second quarter of 2026 was $231 million compared to $332 million in the prior-year second quarter. Adjusted EBITDA for the second quarter was $529 million, or 21.5% of revenue, an increase of 13%, compared to Adjusted EBITDA of $470 million, or 20.8% of revenue, in the prior-year second quarter. The U.S. GAAP tax rate for the second quarter was 19.8%, and the adjusted income tax rate for the second quarter used in calculating adjusted diluted earnings per share was 19.6%.

Cash Flow and Capital Allocation

Cash flows from operating activities were $474 million for the six months ended June 30, 2026, compared to $326 million in the prior year. Free cash flow for the six months ended June 30, 2026 and 2025 was $360 million and $217 million, respectively, an increase of $143 million. The increase was primarily driven by operating margin expansion. During the quarter ended June 30, 2026, the Company repurchased 1,733,574 of its outstanding shares for $450 million.

Second Quarter 2026 Segment Highlights

Health, Wealth & Career (“HWC”)

As reported, USD millions, except %

Health, Wealth & CareerQ2-26Q2-25Y/Y ChangeTotal Revenue$1,270$1,180Reported 8% | CC 7% | Organic 4%Operating Income$306$2809%Operating Margin %24.1%23.8%30 bps
The HWC segment had revenue of $1.27 billion in the second quarter of 2026, an increase of 8% (7% increase constant currency and organic growth of 4%) from $1.18 billion in the prior year. Health delivered organic revenue growth with positive contributions from all regions. Wealth generated organic revenue growth supported by higher levels of retirement work across all regions. Career revenue was flat on an organic basis as increased levels of communications project work and broad-based pay work were offset by constrained revenue in the Middle East due to the ongoing conflict. Benefits Delivery & Outsourcing (BD&O) revenue increased organically as expanded project work, new client wins and regulatory driven work in Outsourcing were partially offset by lower commissions in Individual Marketplace.  

Operating margin in the HWC segment increased 30 basis points from the prior-year second quarter to 24.1%. The increase was primarily driven by improved operating leverage and expense discipline.

Risk & Broking (“R&B”)

As reported, USD millions, except %

Risk & BrokingQ2-26Q2-25Y/Y ChangeTotal Revenue$1,164$1,047Reported 11% | CC 10% | Organic 7%Operating Income$258$22216%Operating Margin %22.2%21.2%100 bps
The R&B segment had revenue of $1.16 billion in the second quarter of 2026, an increase of 11% (10% increase constant currency and organic growth of 7%) from $1.05 billion in the prior year. Corporate Risk & Broking (CRB) had organic revenue growth driven by new business activity and strong client retention globally. Insurance Consulting and Technology (ICT) delivered organic revenue growth primarily from strong software sales in the Technology practice.

Operating margin in the R&B segment increased 100 basis points from the prior-year second quarter to 22.2%. The increase was primarily driven by operating leverage.

Share Repurchase Program

Today, the Company announced that its Board of Directors approved an increase to the existing share repurchase authority in the amount of $1.5 billion. The $1.5 billion increase is in addition to the approximately $500 million remaining on the current open-ended repurchase authority. The Company is authorized to repurchase shares, by way of redemption or otherwise, and will consider whether to do so from time to time, based on many factors, including market and economic conditions, applicable legal requirements and other business considerations. 

Propel

Concurrent with its second quarter results, WTW announced Propel to embed artificial intelligence and automation across the enterprise, expected to be completed by the end of 2028. Supported by the Company's ongoing investments in AI, data and technology, including the acquisition of Newfront, Propel is expected to enhance client service and create additional opportunities for growth as well as streamline core operating processes. WTW expects these efforts to accelerate performance and enhance efficiency, reinforcing WTW's strengths.

The Company expects to invest approximately $625 million of cash and incur approximately $25 million in non-cash charges to generate approximately $400 million in run-rate savings, delivering a cash-cost-to-achieve ratio of approximately 1.6 times. After reinvesting approximately $50 million to support growth, the Company expects to deliver approximately $350 million in net run-rate savings and approximately 30% adjusted operating margin in 2028. The Company’s full-year 2026 guidance remains unchanged. Please refer to the most recent supplemental slides in the Investor Relations section of the Company's website for further details.

Select 2026 Financial Considerations

Adjusted operating margin:

Continued annual margin expansion at the enterprise level driven by: ~100 basis points of annual margin expansion in R&BIncremental annual margin expansion in HWC
Segment organic revenue:

Health, Wealth & Career: Mid-single digits (MSD) Health: High-single digits (HSD)Wealth: Low-single digits (LSD)Career: LSD to MSDBD&O: LSD Risk & Broking: MSD CRB: MSDICT: LSD to MSD Willis Re joint venture:

Expected to be a headwind on Adjusted Diluted EPS of ~$0.30The remaining equity investments in the interest in earnings of associates line are not expected to be material in 2026 Newfront acquisition:

Expected to be ~$0.10 dilutive to Adjusted EPS in 2026Expected 2026 post-close revenue of ~$250M and an adjusted EBITDA margin of ~26%Newfront’s Total Rewards business segment (~42%) will be included in HWC and Newfront’s Business Insurance business segment (~58%) will be included in R&B
Capital allocation:

Expect share repurchases of $1.0B or greater, subject to market conditions and potential capital allocation to organic and inorganic investment opportunities
Free cash flow:

Continual improvement in FCF margin primarily from operating margin expansion along with evolving our business mix
Foreign exchange:

Expect an incremental foreign currency tailwind on Adjusted Diluted EPS of ~$0.05 for the remainder of 2026, resulting in a ~$0.35 tailwind for the full year 2026 at today's rates The 2026 Financial Considerations above include Non-GAAP financial measures. We do not reconcile forward-looking Non-GAAP measures for reasons explained under "WTW Non-GAAP Measures" below.

Conference Call

The Company will host a conference call to discuss the financial results for the second quarter 2026, including an update on strategic priorities. It will be held on Thursday, July 30, 2026, beginning at 9:00 a.m. Eastern Time. A live, listen-only webcast of the conference call will be available on WTW’s website. Analysts and institutional investors may participate in the conference call’s question-and-answer session by registering in advance here. An online replay will be available at investors.wtwco.com shortly after the call concludes.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at www.wtwco.com.

WTW Non-GAAP Measures

In order to assist readers of our consolidated financial statements in understanding the core operating results that WTW’s management uses to evaluate the business and for financial planning, we present the following non-GAAP measures: (1) Constant Currency Change, (2) Organic Change, (3) Adjusted Operating Income/Margin, (4) Adjusted EBITDA/Margin, (5) Adjusted Net Income, (6) Adjusted Diluted Earnings Per Share, (7) Adjusted Income Before Taxes, (8) Adjusted Income Taxes/Tax Rate, (9) Free Cash Flow and (10) Free Cash Flow Margin.

We believe that those measures are relevant and provide pertinent information widely used by analysts, investors and other interested parties in our industry to provide a baseline for evaluating and comparing our operating performance, and in the case of free cash flow, our liquidity results.

Within the measures referred to as ‘adjusted’, we adjust for significant items which will not be settled in cash, or which we believe to be items that are not core to our current or future operations. Some of these items may not be applicable for the current quarter, however they may be part of our full-year results. Additionally, we have historically adjusted for certain items which are not described below, but for which we may adjust in a future period when applicable. Items applicable to the quarter or full year results, or the comparable periods, include the following:

Transaction and integration expenses – Management believes it is appropriate to adjust for significant acquisition-related transaction and integration expenses including changes in significant estimated acquisition earnouts payable and acquisition-related compensation charges. We believe the adjustment is necessary to present how the Company is performing, both now and in the future when the incurrence of these costs will have concluded.Gains and losses on disposals of operations – Adjustment to remove the gains or losses resulting from disposed operations that have not been classified as discontinued operations.Net periodic pension and postretirement benefits – Adjustment to remove the recognition of net periodic pension and postretirement benefits (including pension settlements), other than service costs.
We evaluate our revenue on an as reported (U.S. GAAP), constant currency and organic basis. We believe presenting constant currency and organic information provides valuable supplemental information regarding our comparable results, consistent with how we evaluate our performance internally.

We consider Constant Currency Change, Organic Change, Adjusted Operating Income/Margin, Adjusted EBITDA/Margin, Adjusted Net Income, Adjusted Diluted Earnings Per Share, Adjusted Income Before Taxes, Adjusted Income Taxes/Tax Rate and Free Cash Flow to be important financial measures, which are used to internally evaluate and assess our core operations and to benchmark our operating and liquidity results against our competitors. These non-GAAP measures are important in illustrating what our comparable operating and liquidity results would have been had we not incurred transaction-related and non-recurring items. Reconciliations of these measures are included in the accompanying tables with the following exception: The Company does not reconcile its forward-looking non-GAAP financial measures to the corresponding U.S. GAAP measures, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible; and because not all of the information, such as foreign currency impacts necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure, is available to the Company without unreasonable efforts. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The Company provides non-GAAP financial measures that it believes will be achieved, however it cannot accurately predict all of the components of the adjusted calculations and the U.S. GAAP measures may be materially different than the non-GAAP measures.

Our non-GAAP measures and their accompanying definitions are presented as follows:

Constant Currency Change – Represents the year-over-year change in revenue excluding the impact of foreign currency fluctuations. To calculate this impact, the prior-year local currency results are first translated using the current year monthly average exchange rates. The change is calculated by comparing the prior year revenue, translated at the current year monthly average exchange rates, to the current year as reported revenue, for the same period. We believe constant currency measures provide useful information to investors because they provide transparency to performance by excluding the effects that foreign currency exchange rate fluctuations have on period-over-period comparability given volatility in foreign currency exchange markets.

Organic Change – Excludes the impact of fluctuations in foreign currency exchange rates, as described above and the period-over-period impact of acquisitions and divestitures on current-year revenue. We believe that excluding transaction-related items from our U.S. GAAP financial measures provides useful supplemental information to our investors, and it is important in illustrating what our core operating results would have been had we not included these transaction-related items, since the nature, size and number of these transaction-related items can vary from period to period.

Adjusted Operating Income/Margin – Income from operations adjusted for amortization, transaction and integration and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results. Adjusted operating income margin is calculated by dividing adjusted operating income by revenue. We consider adjusted operating income/margin to be important financial measures, which are used internally to evaluate and assess our core operations and to benchmark our operating results against our competitors.

Adjusted EBITDA/Margin – Net Income adjusted for provision for income taxes, interest expense, depreciation and amortization, transaction and integration, gains and losses on disposals of operations, net periodic pension and postretirement benefits, and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results. Adjusted EBITDA Margin is calculated by dividing adjusted EBITDA by revenue. We consider adjusted EBITDA/margin to be important financial measures, which are used internally to evaluate and assess our core operations, to benchmark our operating results against our competitors and to evaluate and measure our performance-based compensation plans.

Adjusted Net Income – Net Income Attributable to WTW adjusted for amortization, transaction and integration, gains and losses on disposals of operations, net periodic pension and postretirement benefits, and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results and the related tax effect of those adjustments and the tax effects of significant adjustments. This measure is used solely for the purpose of calculating adjusted diluted earnings per share.

Adjusted Diluted Earnings Per Share – Adjusted Net Income divided by the weighted-average number of ordinary shares, diluted. Adjusted diluted earnings per share is used to internally evaluate and assess our core operations and to benchmark our operating results against our competitors.

Adjusted Income Before Taxes – Income from operations before income taxes and interest in earnings of associates adjusted for amortization, transaction and integration, gains and losses on disposals of operations, net periodic pension and postretirement benefits, and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results. Adjusted income before taxes is used solely for the purpose of calculating the adjusted income tax rate.

Adjusted Income Taxes/Tax Rate – Provision for income taxes adjusted for taxes on certain items of amortization, transaction and integration, gains and losses on disposals of operations, net periodic pension and postretirement benefits, the tax effects of significant adjustments and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results, divided by adjusted income before taxes. Adjusted income taxes is used solely for the purpose of calculating the adjusted income tax rate. Management believes that the adjusted income tax rate presents a rate that is more closely aligned to the rate that we would incur if not for the reduction of pre-tax income for the adjusted items and the tax effects of significant adjustments, which are not core to our current and future operations.

Free Cash Flow – Cash flows from operating activities less cash used to purchase fixed assets and software. Management believes that free cash flow presents the core operating performance and cash-generating capabilities of our business operations.

Free Cash Flow Margin – Free Cash Flow as a percentage of revenue, which represents how much of revenue would be realized on a cash basis. We consider this measure to be a meaningful metric for tracking cash conversion on a year-over-year basis due to the non-cash nature of our pension income, which is included in our GAAP and Non-GAAP earnings metrics presented herein.

These non-GAAP measures are not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies. Non-GAAP measures should be considered in addition to, and not as a substitute for, the information contained within our condensed consolidated financial statements.

WTW Forward-Looking Statements

We have included in this document ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. These forward-looking statements include information about possible or assumed future results of our operations or certain considerations relating to our future results. All statements, other than statements of historical facts, that address activities, events or developments that we expect or anticipate may occur in the future, including such things as: our outlook; the potential impact of natural or man-made disasters like health pandemics and other world health crises; the impact of macroeconomic trends, including inflation, changes in interest rates, trade policies and other geopolitical risks; future capital expenditures; ongoing working capital efforts; future share repurchases; financial results (including our revenue, costs or margins) and the impact of changes to tax laws on our financial results; existing and evolving business strategies; our indebtedness; our ability to execute strategic transactions, including both acquisitions and dispositions, including our ability to receive adequate consideration or any earnout proceeds in return for any dispositions or integrate or manage acquired businesses (such as our recent acquisitions of Newfront Insurance Holdings, Inc. and Cushon) or effect internal reorganizations; demand for our services and competitive strengths; strategic goals; the benefits of new initiatives or investments in technology; growth of our business and operations; the sustained health of our product, service, transaction, client, and talent assessment and management pipelines; our ability to successfully manage ongoing leadership, organizational and technology changes, including investments in improving systems and processes; our ability to implement and realize anticipated benefits of any cost-savings or investment initiatives including our newly launched artificial intelligence acceleration plan (the ‘Plan’); our cybersecurity and privacy processes; our application of artificial intelligence technologies throughout our business and our ability to compete with artificial intelligence technologies offered by new or existing competitors; our ability to protect our intellectual property; our compliance with laws and regulations; risks associated with being an Irish-incorporated company; our recognition of future impairment charges; and plans and references to future successes, including our future financial and operating results, short-term and long-term financial goals, plans, objectives, expectations and intentions, including with respect to free cash flow generation, adjusted net income, adjusted operating margin and adjusted earnings per share, are forward-looking statements. Also, when we use words such as ‘may’, ‘will’, ‘would’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘plan’, ‘continues’, ‘seek’, ‘target’, ‘goal’, ‘focus’, ‘probably’, or similar expressions, we are making forward-looking statements. Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. All forward-looking disclosure is speculative by its nature.

There are important risks, uncertainties, events and factors that could cause our actual results or performance to differ materially from those in the forward-looking statements contained in this document, including the following: our ability to successfully establish, execute and achieve our global business strategy as it evolves; our ability to fully realize the anticipated benefits of our growth strategy, including inorganic growth through acquisitions; our ability to achieve our short-term and long-term financial goals, such as with respect to our cash flow generation, and the timing with respect to such achievement; the risks related to changes in general economic conditions, business and political conditions, changes in the financial markets, inflation, credit availability, increased interest rates, changes in trade policies, increased tariffs and retaliatory actions; the risks to our short-term and long-term financial goals from any of the risks or uncertainties set forth herein; the risks relating to the adverse impacts of macroeconomic trends, including those relating to changes in trade policies and tariffs, as well as political events, war, such as the Russia-Ukraine war and conflict in the Middle East, and other international disputes, terrorism, natural disasters, public health issues and other business interruptions on the global economy and capital markets, such as uncertainty in the global markets, inflation, changes in interest rates and recessionary trends, changes in spending by government agencies and contractors, which could have a material adverse effect on our business, financial condition, results of operations and long-term goals; our ability to successfully hedge against fluctuations in foreign currency rates; the risks relating to the adverse impacts of natural or man-made disasters such as health pandemics and other world health crises on the demand for our products and services, our cash flows and our business operations; material interruptions to or loss of our information processing capabilities, or failure to effectively maintain and upgrade our information technology resources and systems; the insufficiency of client data protection, potential breaches of information systems or insufficient safeguards against cybersecurity breaches or incidents; our ability to comply with complex and evolving regulations related to data privacy, cybersecurity and artificial intelligence; significant competition that we face and the potential for loss of market share and/or profitability; the impact of seasonality and differences in timing of renewals and non-recurring revenue increases from disposals and book-of-business sales; the risk of increased liability or new legal claims arising from our new and existing products and services, and expectations, intentions and outcomes relating to outstanding litigation; the risk of substantial negative outcomes on existing or potential future litigation or investigation matters; changes in the regulatory environment in which we operate, including, among other risks, the impacts of pending competition law and regulatory investigations; various claims, government inquiries or investigations or the potential for regulatory action; our ability to make divestitures or acquisitions, including our ability to integrate or manage acquired businesses or carve-out businesses to be disposed, as well as our ability to identify and successfully execute on opportunities for strategic collaboration; our ability to integrate direct-to-consumer sales and marketing solutions with our existing offerings and solutions; our ability to successfully manage ongoing organizational changes, including as a result of our investments in improving systems and processes or other initiatives, and in connection with our acquisition and divestiture activities; the risks relating to the implementation of the Plan; disasters or business continuity problems; our ability to successfully enhance our billing, collection and other working capital efforts, and thereby increase our free cash flow; our ability to properly identify and manage conflicts of interest; reputational damage, including from association with third parties; reliance on third-party service providers and suppliers; risks relating to changes in our management structures and in senior leadership; the loss of key employees or a large number of employees and rehiring rates; our ability to maintain our corporate culture; doing business internationally, including the impact of global trade policies and retaliatory considerations as well as foreign currency exchange rates; compliance with extensive government regulation; the risk of sanctions imposed by governments, or changes to associated sanction regulations  and related counter-sanctions; our ability to effectively apply technology, data and analytics solutions, including through the use of artificial intelligence, for internal operations, maintaining industry standards, meeting client preferences and gaining competitive advantage, among other things; changes and developments in the insurance industry or the U.S. healthcare system, including those related to Medicare, and any other changes and developments in legal, regulatory, economic, business or operational conditions that could impact our businesses; the inability to protect our intellectual property rights, or the potential infringement upon the intellectual property rights of others; fluctuations in our pension assets and liabilities and related changes in pension income, including as a result of, related to, or derived from movements in the interest rate environment, investment returns, inflation, or changes in other assumptions that are used to estimate our benefit obligations and their effect on adjusted earnings per share; our capital structure, including indebtedness amounts, the limitations imposed by the covenants in the documents governing such indebtedness and the maintenance of the financial and disclosure controls and procedures of each; our ability to obtain financing on favorable terms or at all; adverse changes in our credit ratings; the impact of recent or potential changes to applicable U.S. state, federal and/or foreign laws, rules and regulations, recent judicial decisions and case law developments, and any other relevant policy changes and legislative actions, including the ‘Act to provide for reconciliation pursuant to title II of H. Con. Res. 14’ (‘H.R. 1’) signed into law on July 4, 2025, on our business, operations or results; the impact of recent or potential changes in state, federal, and/or foreign tax laws and regulations, including those that may impose additional excise taxes or impact our effective tax rate, including H.R. 1; U.S. federal income tax consequences to U.S. persons owning at least 10% of our shares; changes in accounting principles, estimates or assumptions; our recognition of future impairment charges; risks relating to or arising from environmental, social and governance (‘ESG’) practices; fluctuation in revenue against our relatively fixed or higher-than-expected expenses; the risk that investment levels across our portfolio increase, which can amplify the impact of market downturns; the laws of Ireland being different from the laws of the U.S. and potentially affording less protections to the holders of our securities; and our holding company structure potentially preventing us from being able to receive dividends or other distributions in needed amounts from our subsidiaries.

The foregoing list of factors is not exhaustive and new factors may emerge from time to time that could also affect actual performance and results. For more information, please see Part I, Item 1A in our Annual Report on Form 10-K, and our subsequent filings with the SEC. Copies are available online at http://www.sec.gov or www.wtwco.com.

Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included in this document, our inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved.

Our forward-looking statements speak only as of the date made and we will not update these forward-looking statements unless the securities laws require us to do so. With regard to these risks, uncertainties and assumptions, the forward-looking events discussed in this document may not occur, and we caution you against unduly relying on these forward-looking statements.

Contact

INVESTORS
Claudia De La Hoz | [email protected]

WTW
Supplemental Segment Information
(In millions of U.S. dollars)
(Unaudited)

  REVENUE           Components of Revenue Change(i)            Less:   Less:    Three Months Ended
June 30,  As Reported Currency Constant Currency Acquisitions/ Organic  2026  2025  % Change Impact Change Divestitures Change                 Health, Wealth & Career                Revenue excluding interest income $1,263  $1,173  8% 1% 7% 3% 4%Interest income  7   7           Total  1,270   1,180  8% 1% 7% 3% 4%                 Risk & Broking                Revenue excluding interest income $1,140  $1,024  11% 1% 10% 3% 7%Interest income  24   23           Total  1,164   1,047  11% 1% 10% 3% 7%                 Segment Revenue $2,434  $2,227  9% 1% 8% 3% 5%Corporate, reimbursable expenses and other  30   24           Interest income  2   10           Revenue $2,466  $2,261  9% 1% 8% 3% 5%(ii)        Components of Revenue Change(i)          Less:   Less:    Six Months Ended
June 30,  As Reported Currency Constant Currency Acquisitions/ Organic  2026  2025  % Change Impact Change Divestitures Change                 Health, Wealth & Career                Revenue excluding interest income $2,520  $2,331  8% 2% 6% 2% 3%Interest income  15   14           Total  2,535   2,345  8% 2% 6% 2% 3%                 Risk & Broking                Revenue excluding interest income $2,231  $2,029  10% 4% 6% 2% 4%Interest income  49   45           Total  2,280   2,074  10% 4% 6% 2% 4%                 Segment Revenue $4,815  $4,419  9% 3% 6% 2% 4%Corporate, reimbursable expenses and other  54   45           Interest income  9   20           Revenue $4,878  $4,484  9% 3% 6% 2% 4%(ii) (i) Components of revenue change may not add due to rounding.
(ii) Interest income did not contribute to organic change for the three and six months ended June 30, 2026.

BOOK-OF-BUSINESS SETTLEMENTS AND INTEREST INCOME

  Three Months Ended June 30,   HWC  R&B  Corporate  Total   2026  2025  2026  2025  2026  2025  2026  2025 Book-of-business settlements $1  $—  $3  $3  $—  $—  $4  $3 Interest income  7   7   24   23   2   10   33   40 Total $8  $7  $27  $26  $2  $10  $37  $43    Six Months Ended June 30,   HWC  R&B  Corporate  Total   2026  2025  2026  2025  2026  2025  2026  2025 Book-of-business settlements $2  $2  $10  $3  $—  $—  $12  $5 Interest income  15   14   49   45   9   20   73   79 Total $17  $16  $59  $48  $9  $20  $85  $84 
SEGMENT OPERATING INCOME (i)

  Three Months Ended
June 30,   2026  2025        Health, Wealth & Career $306  $280 Risk & Broking  258   222 Segment Operating Income $564  $502    Six Months Ended
June 30,   2026  2025        Health, Wealth & Career $652  $591 Risk & Broking  510   448 Segment Operating Income $1,162  $1,039  (i) Segment operating income excludes certain costs, including amortization of intangibles, transaction and integration expenses, and to the extent that the actual expense based upon which allocations are made differs from the forecast/budget amount, a reconciling item will be created between internally-allocated expenses and the actual expenses reported for U.S. GAAP purposes.

SEGMENT OPERATING MARGINS

  Three Months Ended June 30,  2026 2025Health, Wealth & Career 24.1% 23.8%Risk & Broking 22.2% 21.2%   Six Months Ended June 30,  2026 2025Health, Wealth & Career 25.7% 25.2%Risk & Broking 22.4% 21.6%
RECONCILIATIONS OF SEGMENT OPERATING INCOME TO INCOME FROM OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES

  Three Months Ended June 30,   2026  2025        Segment Operating Income $564  $502 Amortization  (55)  (49)Transaction and integration expenses(i)  (61)  (2)Unallocated, net(ii)  (84)  (83)Income from Operations  364   368 Interest expense  (78)  (64)Other income, net  6   9 Income from operations before income taxes
and interest in earnings of associates $292  $313    Six Months Ended June 30,   2026  2025        Segment Operating Income $1,162  $1,039 Amortization  (103)  (97)Transaction and integration expenses(i)  (102)  (2)Unallocated, net(ii)  (145)  (140)Income from Operations  812   800 Interest expense  (155)  (129)Other income/(loss), net  11   (55)Income from operations before income taxes
and interest in earnings of associates $668  $616  (i) Primarily includes share-based compensation and other transaction-related costs attributable to our Newfront acquisition.
(ii) Includes certain costs, primarily related to corporate functions which are not directly related to the segments, and certain differences between budgeted expenses determined at the beginning of the year and actual expenses that we report for U.S. GAAP purposes.

WTW
Reconciliations of Non-GAAP Measures
(In millions of U.S. dollars, except per share data)
(Unaudited) RECONCILIATIONS OF NET INCOME ATTRIBUTABLE TO WTW TO ADJUSTED DILUTED EARNINGS PER SHARE   Three Months Ended June 30,   2026  2025        Net income attributable to WTW $229  $331 Adjusted for certain items:      Amortization  55   49 Transaction and integration expenses  61   2 Net periodic pension and postretirement benefits  (8)  (13)Tax effect on certain items listed above(i)  (21)  (10)Tax effect of significant adjustments  —   (74)Adjusted Net Income $316  $285        Weighted-average ordinary shares, diluted  94   100        Diluted Earnings Per Share $2.43  $3.32 Adjusted for certain items:(ii)      Amortization  0.58   0.49 Transaction and integration expenses  0.65   0.02 Net periodic pension and postretirement benefits  (0.08)  (0.13)Tax effect on certain items listed above(i)  (0.22)  (0.10)Tax effect of significant adjustments  —   (0.74)Adjusted Diluted Earnings Per Share(ii) $3.35  $2.86    Six Months Ended June 30,   2026  2025        Net income attributable to WTW $526  $566 Adjusted for certain items:      Amortization  103   97 Transaction and integration expenses  102   2 Net periodic pension and postretirement benefits  (14)  62 Gain on disposal of operations  —   (14)Tax effect on certain items listed above(i)  (44)  (38)Tax effect of significant adjustments  —   (74)Adjusted Net Income $673  $601        Weighted-average ordinary shares, diluted  95   100        Diluted Earnings Per Share $5.53  $5.64 Adjusted for certain items:(ii)      Amortization  1.08   0.97 Transaction and integration expenses  1.07   0.02 Net periodic pension and postretirement benefits  (0.15)  0.62 Gain on disposal of operations  —   (0.14)Tax effect on certain items listed above(i)  (0.46)  (0.38)Tax effect of significant adjustments  —   (0.74)Adjusted Diluted Earnings Per Share(ii) $7.07  $5.99  (i) The tax effect was calculated using an effective tax rate for each item.
(ii) Per share values and totals may differ due to rounding.

RECONCILIATIONS OF NET INCOME TO ADJUSTED EBITDA    Three Months Ended June 30,    2026  2025          Net income $231 9.4%$332 14.7%Provision for/(benefit from) income taxes  57   (21) Interest expense  78   64  Depreciation  55   57  Amortization  55   49  Transaction and integration expenses  61   2  Net periodic pension and postretirement benefits  (8)  (13) Adjusted EBITDA and Adjusted EBITDA Margin $529 21.5%$470 20.8%   Six Months Ended June 30,    2026  2025          Net income $534 10.9%$571 12.7%Provision for income taxes  127   44  Interest expense  155   129  Depreciation  111   111  Amortization  103   97  Transaction and integration expenses  102   2  Net periodic pension and postretirement benefits  (14)  62  Gain on disposal of operations  —   (14) Adjusted EBITDA and Adjusted EBITDA Margin $1,118 22.9%$1,002 22.3% RECONCILIATIONS OF INCOME FROM OPERATIONS TO ADJUSTED OPERATING INCOME    Three Months Ended June 30,    2026  2025          Income from operations and Operating margin $364 14.8%$368 16.3%Adjusted for certain items:       Amortization  55   49  Transaction and integration expenses  61   2  Adjusted operating income and Adjusted operating income margin $480 19.5%$419 18.5%   Six Months Ended June 30,    2026  2025          Income from operations and Operating margin $812 16.6%$800 17.8%Adjusted for certain items:       Amortization  103   97  Transaction and integration expenses  102   2  Adjusted operating income and Adjusted operating income margin $1,017 20.8%$899 20.0% RECONCILIATIONS OF GAAP INCOME TAXES/TAX RATE TO ADJUSTED INCOME TAXES/TAX RATE   Three Months Ended June 30,   2026  2025        Income from operations before income taxes and interest in earnings of associates $292  $313        Adjusted for certain items:      Amortization  55   49 Transaction and integration expenses  61   2 Net periodic pension and postretirement benefits  (8)  (13)Adjusted income before taxes $400  $351        Provision for/(benefit from) income taxes $57  $(21)Tax effect on certain items listed above(i)  21   10 Tax effect of significant adjustments  —   74 Adjusted income taxes $78  $63        U.S. GAAP tax rate  19.8%  (6.8)%Adjusted income tax rate  19.6%  18.0%   Six Months Ended June 30,   2026  2025        Income from operations before income taxes and interest in earnings of associates $668  $616        Adjusted for certain items:      Amortization  103   97 Transaction and integration expenses  102   2 Net periodic pension and postretirement benefits  (14)  62 Gain on disposal of operations  —   (14)Adjusted income before taxes $859  $763        Provision for income taxes $127  $44 Tax effect on certain items listed above(i)  44   38 Tax effect of significant adjustments  —   74 Adjusted income taxes $171  $156        U.S. GAAP tax rate  19.1%  7.1%Adjusted income tax rate  19.7%  20.5% (i) The tax effect was calculated using an effective tax rate for each item.

RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO FREE CASH FLOW   Six Months Ended June 30,   2026  2025        Cash flows from operating activities $474  $326 Less: Additions to fixed assets and software  (114)  (109)Free Cash Flow $360  $217  WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY
Condensed Consolidated Statements of Income
(In millions of U.S. dollars, except per share data)
(Unaudited)   Three Months Ended
June 30,  Six Months Ended
June 30,   2026  2025  2026  2025 Revenue $2,466  $2,261  $4,878  $4,484              Costs of providing services            Salaries and benefits  1,551   1,449   2,985   2,773 Other operating expenses  380   336   765   701 Depreciation  55   57   111   111 Amortization  55   49   103   97 Transaction and integration expenses  61   2   102   2 Total costs of providing services  2,102   1,893   4,066   3,684              Income from operations  364   368   812   800              Interest expense  (78)  (64)  (155)  (129)Other income/(loss), net  6   9   11   (55)             INCOME FROM OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES 292   313   668   616              (Provision for)/benefit from income taxes  (57)  21   (127)  (44)             INCOME FROM OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES 235   334   541   572              Interest in earnings of associates, net of tax  (4)  (2)  (7)  (1)             NET INCOME 231   332   534   571              Income attributable to non-controlling interests  (2)  (1)  (8)  (5)             NET INCOME ATTRIBUTABLE TO WTW $229  $331  $526  $566              EARNINGS PER SHARE            Basic earnings per share $2.43  $3.34  $5.55  $5.68 Diluted earnings per share $2.43  $3.32  $5.53  $5.64              Weighted-average ordinary shares, basic  94   99   95   100 Weighted-average ordinary shares, diluted  94   100   95   100  WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY
Condensed Consolidated Balance Sheets
(In millions of U.S. dollars, except share data)
(Unaudited)   June 30,  December 31,   2026  2025 ASSETS      Cash and cash equivalents $1,627  $3,132 Fiduciary assets  11,846   10,445 Accounts receivable, net  2,603   2,702 Prepaid and other current assets  669   595 Total current assets  16,745   16,874 Fixed assets, net  675   695 Goodwill  9,735   8,938 Other intangible assets, net  1,444   1,141 Right-of-use assets  474   487 Pension benefits assets  558   529 Other non-current assets  928   866 Total non-current assets  13,814   12,656 TOTAL ASSETS $30,559  $29,530 LIABILITIES AND EQUITY      Fiduciary liabilities $11,846  $10,445 Deferred revenue and accrued expenses  1,766   2,087 Current debt  749   550 Current lease liabilities  117   125 Other current liabilities  767   797 Total current liabilities  15,245   14,004 Long-term debt  5,781   5,756 Liability for pension benefits  610   660 Provision for liabilities  359   340 Long-term lease liabilities  454   472 Other non-current liabilities  340   246 Total non-current liabilities  7,544   7,474 TOTAL LIABILITIES  22,789   21,478 COMMITMENTS AND CONTINGENCIES      EQUITY(i)      Additional paid-in capital  11,236   11,106 Accumulated deficit  (699)  (296)Accumulated other comprehensive loss, net of tax  (2,849)  (2,834)Total WTW shareholders' equity  7,688   7,976 Non-controlling interests  82   76 Total Equity  7,770   8,052 TOTAL LIABILITIES AND EQUITY $30,559  $29,530  ______________
(i)  Equity includes (a) Ordinary shares $0.000304635 nominal value; Authorized 1,510,003,775; Issued 93,003,869 (2026) and 95,079,835 (2025); Outstanding 93,003,869 (2026) and 95,079,835 (2025) and (b) Preference shares, $0.000115 nominal value; Authorized 1,000,000,000 and Issued none in 2026 and 2025.

WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY
Condensed Consolidated Statements of Cash Flows
(In millions of U.S. dollars)
(Unaudited)   Six Months Ended June 30,   2026  2025 CASH FLOWS FROM OPERATING ACTIVITIES      NET INCOME $534  $571 Adjustments to reconcile net income to total net cash from operating activities:      Depreciation  111   111 Amortization  103   97 Non-cash lease expense  50   47 Net periodic cost of defined benefit pension plans  14   94 Provision for doubtful receivables from clients  10   7 Benefit from deferred income taxes  (42)  (70)Share-based compensation  109   68 Gain on disposal of operations  —   (14)Non-cash foreign exchange (gain)/loss  (16)  30 Other, net  31   18 Changes in operating assets and liabilities, net of effects from purchase of subsidiaries:      Accounts receivable  121   225 Other assets  (97)  (99)Other liabilities  (475)  (778)Provisions  21   19 Net cash from operating activities  474   326        CASH FLOWS (USED IN)/FROM INVESTING ACTIVITIES      Additions to fixed assets and software  (114)  (109)Acquisitions of operations, net of cash acquired  (1,039)  (14)Contributions to investments in associates  (23)  (8)Net proceeds from sale of operations  —   836 Net purchases of held-to-maturity securities  —   (50)Net purchases of available-for-sale securities  —   (43)Net cash (used in)/from investing activities  (1,176)  612        CASH FLOWS USED IN FINANCING ACTIVITIES      Borrowing of other debt  775   — Debt issuance costs  (4)  — Repayments of debt  (552)  (2)Repurchase of shares  (750)  (700)Net proceeds from fiduciary funds held for clients  159   141 Payments of deferred and contingent consideration related to acquisitions  (2)  (15)Cash paid for employee taxes on withholding shares  (57)  (43)Dividends paid  (178)  (179)Acquisitions of and dividends paid to non-controlling interests  (2)  (2)Net cash used in financing activities  (611)  (800)       (DECREASE)/INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED
CASH  (1,313)  138 Effect of exchange rate changes on cash, cash equivalents and restricted cash  (34)  207 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF
PERIOD(i)  6,487   4,998 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD(i) $5,140  $5,343  ______________
(i)  The amounts of cash, cash equivalents and restricted cash, their respective classification on the condensed consolidated balance sheets, as well as their respective portions of the increase or decrease in cash, cash equivalents and restricted cash for each of the periods presented have been included in the Supplemental Disclosure of Cash Flow Information section.

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
(In millions of U.S. dollars)     Six Months Ended June 30,   2026  2025        Supplemental disclosures of cash flow information:      Cash and cash equivalents $1,627  $1,963 Fiduciary funds (included in fiduciary assets)  3,513   3,380 Total cash, cash equivalents and restricted cash $5,140  $5,343        Decrease in cash, cash equivalents and other restricted cash $(1,487) $(3)Increase in fiduciary funds  174   141 Total(i) $(1,313) $138  (i) Does not include the effect of exchange rate changes on cash, cash equivalents and restricted cash.

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Willis Towers Watson (WTW - Free Report) , which belongs to the Zacks Insurance - Brokerage industry, could be a great candidate to consider.

This advisory, broking and solutions company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 3.07%.

For the last reported quarter, Willis Towers Watson came out with earnings of $3.72 per share versus the Zacks Consensus Estimate of $3.59 per share, representing a surprise of 3.62%. For the previous quarter, the company was expected to post earnings of $7.92 per share and it actually produced earnings of $8.12 per share, delivering a surprise of 2.53%.

Price and EPS Surprise

With this earnings history in mind, recent estimates have been moving higher for Willis Towers Watson. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Willis Towers Watson currently has an Earnings ESP of +2.42%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on July 30, 2026.

Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Posted by Defense World Staff on Jul 27th, 2026

Assetmark Inc. reduced its position in Willis Towers Watson Public Limited Company (NASDAQ:WTW – Free Report) by 84.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,095 shares of the company’s stock after selling 6,006 shares during the quarter. Assetmark Inc.’s holdings in Willis Towers Watson Public were worth $318,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Dodge & Cox raised its stake in Willis Towers Watson Public by 90.7% during the fourth quarter. Dodge & Cox now owns 6,925,525 shares of the company’s stock worth $2,275,728,000 after buying an additional 3,293,334 shares during the last quarter. Norges Bank bought a new stake in Willis Towers Watson Public during the fourth quarter valued at $511,151,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Willis Towers Watson Public during the fourth quarter valued at $284,570,000. Bank of Montreal Can grew its holdings in Willis Towers Watson Public by 657.3% during the 4th quarter. Bank of Montreal Can now owns 941,637 shares of the company’s stock worth $309,422,000 after acquiring an additional 817,301 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in Willis Towers Watson Public by 23.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,505,195 shares of the company’s stock worth $1,151,808,000 after acquiring an additional 664,202 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades Several research analysts have recently weighed in on WTW shares. Cantor Fitzgerald lifted their price objective on Willis Towers Watson Public from $322.00 to $344.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods upped their target price on Willis Towers Watson Public from $380.00 to $381.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Barclays decreased their target price on Willis Towers Watson Public from $322.00 to $303.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 7th. Piper Sandler boosted their price target on Willis Towers Watson Public from $283.00 to $317.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, BMO Capital Markets raised Willis Towers Watson Public from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $347.00 to $300.00 in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $351.80.

Check Out Our Latest Analysis on WTW

Insider Activity at Willis Towers Watson Public In other Willis Towers Watson Public news, insider Lucy Clarke bought 1,896 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average price of $263.37 per share, for a total transaction of $499,349.52. Following the acquisition, the insider directly owned 22,717 shares of the company’s stock, valued at approximately $5,982,976.29. The trade was a 9.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by insiders.

Willis Towers Watson Public Price Performance Shares of WTW opened at $295.11 on Monday. The business’s fifty day moving average is $269.24 and its 200 day moving average is $286.99. Willis Towers Watson Public Limited Company has a 12-month low of $240.61 and a 12-month high of $352.79. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.78. The stock has a market cap of $27.87 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.95 and a beta of 0.43.

Willis Towers Watson Public (NASDAQ:WTW – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.65 by $0.07. Willis Towers Watson Public had a net margin of 16.84% and a return on equity of 21.52%. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the business posted $3.13 EPS. Willis Towers Watson Public’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Willis Towers Watson Public Limited Company will post 19.53 earnings per share for the current fiscal year.

Willis Towers Watson Public Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.84 annualized dividend and a dividend yield of 1.3%. Willis Towers Watson Public’s payout ratio is presently 22.39%.

About Willis Towers Watson Public (Free Report)

Willis Towers Watson Public (NASDAQ: WTW) is a global advisory, broking and solutions company that helps organizations manage risk, optimize benefits and cultivate talent. The firm combines insurance brokerage and risk management capabilities with human capital and benefits consulting, actuarial and analytics services, and technology-enabled solutions. Willis Towers Watson serves a broad client base that includes multinational and mid-sized corporations, public sector organizations, insurers and investment managers.

The company’s core activities encompass commercial and reinsurance brokerage, risk transfer and risk-financing advice, and claims advocacy, alongside employee benefits and retirement consulting.

Featured Stories Five stocks we like better than Willis Towers Watson Public RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade? These 4 Earnings Reports Expose the Market’s Growing Economic Divide Broadcom May Be the Biggest Winner From Alphabet’s Earnings Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Want to see what other hedge funds are holding WTW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Willis Towers Watson Public Limited Company (NASDAQ:WTW – Free Report).

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NEW YORK, July 27, 2026 (GLOBE NEWSWIRE) -- Willis, a WTW business (NASDAQ: WTW), today urged data center owners, developers, builders, operators and investors to rethink traditional insurance buying, warning that many organizations may be securing capacity beyond their actual exposure due to risks not being fully understood or quantified. Sharper risk analysis can help all stakeholders make more informed decisions about insurance requirements, capital allocation and resilience planning.

Capacity is available, but buying decisions should be risk and data-led

Amid rapid growth in digital infrastructure and AI-driven demand, the sector has focused heavily on securing larger insurance towers. Willis’ experience shows that the global marketplace can provide up to US$15 billion of insurance capacity for large-scale data center risks, if necessary. However, the more important question is how much capacity is needed based on a robust view of exposures across the digital infrastructure lifecycle.

"The capacity is there," said Alastair Swift, Head of Global Specialties and the Global Digital Infrastructure Group at Willis. "The focus should be on using data-led analysis to quantify and differentiate exposure to secure appropriate insurance limits."

Digital infrastructure risks extend beyond property values

Digital infrastructure risk profiles can vary significantly based on site selection, power infrastructure, construction methodology, operational resilience, supply-chain dependencies, climate factors and cyber vulnerabilities.

Willis says a more sophisticated understanding of these risks, supported by its eight-point digital infrastructure risk framework, can help organizations optimize insurance programs, reduce unnecessary spend and give lenders and investors greater confidence that coverage aligns with actual exposures. Risk engineering and resilience investments can often reduce overall risk more effectively than simply increasing insurance limits.

Resilience investments can improve insurance and financing outcomes

By assessing natural hazards and climate risk early in the development lifecycle, data center owners and developers can incorporate resilience measures into asset design from day one, including flood protection, enhanced wind resistance, seismic design enhancements, heat and drought adaptation measures, wildfire mitigation features, blast resistance and other location-specific controls.

Cost-benefit analysis can help organizations evaluate these resilience investments, support capital allocation and demonstrate a stronger risk profile to insurers, lenders and investors.

Through this approach, Willis has helped leading digital infrastructure clients improve:

Credit and financing outcomes, including enhanced S&P ratings and more favorable terms for future development projects.Insurance efficiency, including reduced limits where analysis showed lower risk exposure.Resilience to natural hazards through design due diligence, tailored analytics and targeted program design enhancements.Operational continuity planning by quantifying downtime from major catastrophe events and identifying targeted mitigation actions. "Buying more insurance is not always the same as being better protected," said Alastair Swift. "When risks are properly modelled, understood and mitigated, clients can build more efficient, resilient insurance programs that reflect their actual exposures. This is especially important where lenders and equity partners expect robust protection; a more tailored approach can often deliver greater value."

From capacity-led to risk-led decision-making

Willis encourages clients to move from capacity-led buying to risk and data-led decision-making by:

Quantifying exposures across design, construction and operations.Modelling realistic loss scenarios instead of relying on market conventions.Embedding resilience by design early in project development.Assessing critical infrastructure dependencies, including energy, water, cooling and continuity planning.Using robust verifiable data to support discussions with insurers, lenders and investors. "As the global digital infrastructure sector scales, clients need a clearer understanding of what they are trying to insure and why," said Jackie Bolig, Head of Placement and Broking Solutions for North America at Willis. "The goal should be to buy the right amount of insurance, supported by evidence, analytics and a thorough understanding of risk, not simply seeking the largest capacity available."

Visit wtwco.com/maximize-uptime to learn more about Willis’ eight-point digital infrastructure risk framework.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk, and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce, and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

Media Contacts

Lauren Ryan
[email protected]

Jo Barrett
[email protected]

Strategic partnership expands WTW's global workforce advisory expertise and AI Workforce Transformation reach with TechWolf's data layer Strategic partnership expands WTW's global workforce advisory expertise and AI Workforce Transformation reach with TechWolf's data layer

Posted by Defense World Staff on Jul 20th, 2026

California Public Employees Retirement System reduced its holdings in Willis Towers Watson Public Limited Company (NASDAQ:WTW – Free Report) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,825 shares of the company’s stock after selling 30,952 shares during the period. California Public Employees Retirement System owned about 0.23% of Willis Towers Watson Public worth $63,612,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Willis Towers Watson Public by 375.0% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 76 shares of the company’s stock valued at $25,000 after buying an additional 60 shares during the period. Cedar Mountain Advisors LLC purchased a new stake in shares of Willis Towers Watson Public during the 1st quarter worth about $27,000. Fideuram Asset Management Ireland dac bought a new position in Willis Towers Watson Public during the fourth quarter valued at approximately $28,000. Larson Financial Group LLC raised its position in Willis Towers Watson Public by 72.5% during the fourth quarter. Larson Financial Group LLC now owns 88 shares of the company’s stock valued at $29,000 after acquiring an additional 37 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new stake in Willis Towers Watson Public in the fourth quarter valued at approximately $29,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In A number of equities research analysts recently issued reports on WTW shares. BMO Capital Markets upgraded shares of Willis Towers Watson Public from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $347.00 to $300.00 in a report on Friday, May 1st. Wells Fargo & Company lifted their price target on shares of Willis Towers Watson Public from $319.00 to $341.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Morgan Stanley reduced their price objective on shares of Willis Towers Watson Public from $330.00 to $320.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Bank of America lowered their price target on Willis Towers Watson Public from $354.00 to $347.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Finally, Weiss Ratings lowered Willis Towers Watson Public from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $351.80.

Read Our Latest Stock Report on Willis Towers Watson Public

Willis Towers Watson Public Price Performance Shares of WTW stock opened at $293.45 on Monday. The stock’s fifty day simple moving average is $264.99 and its 200 day simple moving average is $288.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.92 and a quick ratio of 2.92. The firm has a market cap of $27.72 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 0.95 and a beta of 0.43. Willis Towers Watson Public Limited Company has a one year low of $240.61 and a one year high of $352.79.

Willis Towers Watson Public (NASDAQ:WTW – Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.65 by $0.07. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Willis Towers Watson Public had a net margin of 16.84% and a return on equity of 21.52%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $3.13 EPS. On average, analysts expect that Willis Towers Watson Public Limited Company will post 19.53 earnings per share for the current fiscal year.

Willis Towers Watson Public Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.96 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 1.3%. Willis Towers Watson Public’s dividend payout ratio (DPR) is 22.39%.

Insider Activity In related news, insider Lucy Clarke purchased 1,896 shares of Willis Towers Watson Public stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average price of $263.37 per share, for a total transaction of $499,349.52. Following the transaction, the insider directly owned 22,717 shares in the company, valued at approximately $5,982,976.29. This represents a 9.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.40% of the stock is owned by corporate insiders.

Willis Towers Watson Public Company Profile (Free Report)

Willis Towers Watson Public (NASDAQ: WTW) is a global advisory, broking and solutions company that helps organizations manage risk, optimize benefits and cultivate talent. The firm combines insurance brokerage and risk management capabilities with human capital and benefits consulting, actuarial and analytics services, and technology-enabled solutions. Willis Towers Watson serves a broad client base that includes multinational and mid-sized corporations, public sector organizations, insurers and investment managers.

The company’s core activities encompass commercial and reinsurance brokerage, risk transfer and risk-financing advice, and claims advocacy, alongside employee benefits and retirement consulting.

See Also Five stocks we like better than Willis Towers Watson Public Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet Why These 3 Nuclear ETFs Are Getting a Fresh Look as AI Power Demand Rises 3 Aerospace Suppliers That Could Benefit as Aircraft Makers Face Bottlenecks Want to see what other hedge funds are holding WTW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Willis Towers Watson Public Limited Company (NASDAQ:WTW – Free Report).

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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

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Stock to Watch: Willis Towers Watson (WTW - Free Report) Based in London, the United Kingdom, Willis Towers Watson plc is a leading global advisory, broking and solutions company. Willis Towers caters to the need of designs and delivers solutions that manage risk, optimize benefits, and expand capabilities, among others of large companies and mid-market and small businesses across the world.

WTW is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Finance stock. WTW has a Momentum Style Score of A, and shares are up 11.2% over the past four weeks.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.00 to $19.53 per share. WTW also boasts an average earnings surprise of +4.1%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, WTW should be on investors' short list.

July 15, 2026 09:00 ET  | Source: Willis Towers Watson US LLC

NEW YORK, July 15, 2026 (GLOBE NEWSWIRE) -- Average salary increase budgets for US companies in 2027 are expected to remain stable at 3.4%, just slightly lower than 2026’s actual increase of 3.5%. This is according to the latest Salary Budget Planning Report by WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company.

The report found that pay budgets remained largely steady in 2025, with nearly 60% of organizations reporting no change between anticipated and actual salary budgets. Cost management pressures (32%), a tighter labor market (28%) and inflationary concerns (27%) continue to drive employers’ cautious approach to salary planning.

“Salary budgets may be holding steady, but the way organizations are using those dollars is changing significantly. Employers are moving away from broad-based increases and toward more precise, performance-driven pay strategies that target the roles, skills and talent segments that matter most,” said Brittany Innes, senior director, Rewards Data Intelligence, WTW.

This shift is already reshaping how employers manage compensation programs. More than one-third (33%) are adjusting their programs, with another 15% planning future changes. Other changes include: hiring at higher salary ranges (36%), increasing the use of retention bonuses or spot awards to help secure key employees (34%) and raising starting salary ranges (32%).

Economic uncertainty and financial pressures are also contributing to steady retention levels, with most employees (69%) remaining with their current employers and only 22% of companies adding head count. Rather than relying on hiring alone, employers are focusing on other ways to strengthen the employee value proposition, including improving the employee experience (47%), expanding training opportunities (40%) and enhancing health and wellness benefits (38%).

“Salary increase budgets reflect the current balance between the supply and demand of labor. While the focus is often on the low demand for labor, most leaders forget that we are still in the throes of low supply. Employers will continue to experience salary increases in the “land of 3%” for the foreseeable future given these dynamics. Those who focus on using that money wisely will be the ones that win the inevitable war for talent once demand picks up,” said Lori Wisper, senior managing director, Work & Rewards, WTW.

About the survey

The Salary Budget Planning Report is compiled by WTW’s Rewards Data Intelligence practice. The survey was conducted from March to May 2026. 34,024 responses were received from companies across 156 countries worldwide. In the U.S., 1,650 organizations responded.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

Media contacts:

Ileana Feoli
[email protected] 

Arnelle Sullivan
[email protected]

July 13, 2026 16:00 ET  | Source: Willis Towers Watson US LLC

LONDON, July 13, 2026 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company, will announce its financial results for the second quarter on Thursday, July 30, 2026, before the market opens.

The company will host a conference call to discuss its financial results at 9:00 a.m. Eastern Time on Thursday, July 30, 2026. A live, listen-only webcast of the conference call will be available on WTW’s website. Analysts and institutional investors may participate in the conference call’s question-and-answer session by registering in advance here.

An online replay will be available at investors.wtwco.com shortly after the call concludes.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

Learn more at wtwco.com.

CONTACT

INVESTORS
Claudia De La Hoz | [email protected]

Key Takeaways WTW is benefiting from specialty client wins, AI-driven productivity and demand for health consulting. Newfront is expected to add about $250 million of 2026 revenues despite a near-term EPS headwind. WTW returned $388 million to shareholders and expects at least $1 billion of buybacks in 2026. Shares of Willis Towers Watson Public Limited Company (WTW - Free Report) have gained 1.1% in three months compared with the industry’s growth of 9.4%.

WTW is well positioned for long-term growth, supported by continued margin expansion, AI-driven productivity initiatives, a strong specialty business pipeline, disciplined capital returns and earnings contributions from strategic acquisitions. The expected long-term earnings growth is pegged at 15.9%, better than the industry average of 13.6%.

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Shares of other insurance brokers like Aon plc. (AON - Free Report) and Arthur J. Gallagher & Co. (AJG - Free Report) and Brown & Brown, Inc. (BRO - Free Report) have gained 10.6%, 16.6% and 3.2%, respectively, in the past three months.

WTW's Average Target Price Suggests UpsideBased on short-term price targets offered by 20 analysts, the Zacks average price target is $333.80 per share. The average suggests a potential upside of 13.6% from the last closing price.

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WTW’s ValuationShares of Willis Towers Watson are trading at a discount compared with the industry. Its forward price-to-earnings multiple of 14.07X is lower than the industry average of 16.57 X. It, however, has a Value Score of B.

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WTW’s Growth Projection EncouragesThe Zacks Consensus Estimate for Willis Towers Watson's 2026 earnings per share (EPS) indicates a year-over-year increase of 14.5%. The consensus estimate for 2026 revenues is pegged at $10.50 billion, implying a year-over-year improvement of 8.1%.

The consensus estimate for 2027 EPS and revenues indicates an increase of 13.3% and 5.2%, respectively, from the corresponding 2026 estimates.

Optimistic Analyst Sentiment on WTWFour of the five analysts covering the stock have raised estimates for 2026, while two of the four analysts have increased 2027 estimates over the past 60 days. Thus, the Zacks Consensus Estimate for 2026 and 2027 moved 0.3% and 0.1% north, respectively, over the last 60 days.

WTW’s Favorable Return on EquityWillis Towers Watson’s return on equity (ROE) of 21.5% for the trailing 12 months compared favorably with the industry’s 18.8%, reflecting the company’s efficiency in utilizing shareholders’ funds.

Factors Benefiting WTWWillis Towers continues to benefit from a healthy pipeline across its specialty businesses. Strong client wins in data centers, nuclear energy, surety, construction and commercial insurance, including a major Fortune 100 account, are expected to support revenue growth in the coming quarters. WTW is also re-entering the reinsurance market through a joint venture with Bain Capital, which is expected to be a roughly 30-cent headwind to adjusted EPS in 2026.

WTW's AI strategy and margin expansion remain key long-term growth drivers. Management expects AI-driven automation and analytics to improve productivity, strengthen client engagement and expand margins. It also expects continued annual margin expansion over the coming years.

The company’s acquisition of Newfront adds a technology-enabled, middle-market broker operating across both Health, Wealth & Career and Risk & Broking, aligning with WTW’s focus on specialization, innovation and efficiency. Management expects Newfront to contribute about $250 million of post-close revenues in 2026 with an adjusted EBITDA margin of nearly 26%, though it is expected to have an approximately 10-cent impact on adjusted EPS in 2026.

Rising healthcare costs and increasing benefit complexity are driving demand for WTW's health consulting, and the health segment revenue grew 6% during the first quarter of 2026. Management expects high-single-digit growth for 2026.

Willis Towers Watson's solid balance sheet and steady cash flow are expected to help the company deploy capital through buybacks, dividend payouts, debt repayments and acquisitions. The company returned $388 million to shareholders during the first quarter of 2026 through share repurchases and dividends, and expects share repurchases of $1 billion or greater in 2026.

Risks for WTWWTW's first-quarter organic revenue growth slowed due to project delays and softer market conditions. Prolonged weakness in organic growth could pressure revenue expansion and investor sentiment.

Wills Towers continues to face risks from geopolitical tensions and economic uncertainty, particularly in international markets, which may delay client spending and consulting projects.

Unfavorable exchange-rate movements could also negatively impact earnings and operating results despite the company's hedging programs.

ConclusionWillis Towers Watson boasts growth through AI initiatives, specialty insurance expansion, the Newfront acquisition, effective capital deployment and continued margin improvement. However, slower organic growth, geopolitical uncertainty and foreign exchange volatility remain key risks.

Its solid growth projections, optimistic analyst sentiment, cheap valuations and favorable ROE should continue to benefit Willis Towers Watson over the long term. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

LONDON, July 01, 2026 (GLOBE NEWSWIRE) -- Willis, a WTW business (NASDAQ:WTW), today announced the expansion of its CyMax Facility, a primary and excess cyber facility designed specifically for SMEs and middle market companies across EMEA, in partnership with Insurers AXA XL, Beazley, HDI Global and Markel.

Building on the success of its previous Continental Europe facility, the renewed offering provides broader access, higher limits and faster execution for eligible companies seeking comprehensive cyber protection. It is designed to streamline the insurance experience for clients and brokers, while supporting companies facing exposures ranging from data breaches and ransomware to supply chain risks.

The cover supports clients through crisis management and incident response, with access to external expertise when a cyber event occurs. It also provides financial protection for business interruption and supply chain losses, alongside cover for evolving threats such as social engineering, telephone hacking and invoice manipulation, helping protect profitability, continuity and reputation.

Key features:

Panel-based capacity: The CyMax Facility has been expanded from a single-insurer model to a panel-based facility, supporting broader insurer participation and more flexible placement options for SMEs and middle market companies.Simplified application process: A one-page Cyber Application Form and short eligibility questionnaire of six to eight underwriting questions helps streamline access to cover and reduce administrative burden for clients and brokers.Broader and more inclusive eligibility: The facility is designed for companies with turnover up to €/CHF500m, who have established security controls, while also providing access to coverage for businesses with partially implemented controls in place.Pre-agreed pricing grids: Pre-agreed pricing grids reduce the need for back-and-forth discussions with insurers, helping clients and brokers secure terms more efficiently.Willis Cyber proprietary wordings: Clients benefit from WTW’s EMEA CyCore Primary and Excess wordings, aligned with GDPR, NIS2 and DORA, with innovative coverages such as cyber incident response, notification costs to data subjects and regulators, emergency costs, business interruption and contingent business interruption, regulatory action, social engineering, cyber theft, invoice manipulation and reputation harm.Specialist cyber support: Clients can access EMEA expertise and insurer pre- and post-breach services, including pre-ransomware alerts, threat intelligence reports, onboarding calls and crisis exercises. Brian Vosloh, Head of Cyber EMEA at Willis, said: “As cyber risks continue to grow in complexity, SMEs and middle market companies need cyber insurance solutions that are easier to access, quicker to place and better aligned to their evolving exposures.”

“By renewing and expanding Willis’ CyMax Facility, we are giving clients broader access to capacity, higher limits, innovative proprietary coverages and a faster, simpler route to cyber insurance. The use of pre-agreed pricing grids, a streamlined application process and a single vulnerability-scan subjectivity helps reduce friction for brokers and clients, while access to pre- and post-breach services offered by insurers supports stronger cyber resilience.”

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

Media Contact

Jo Barrett
[email protected]
+44 (0)7940 703911

On June 26, 2026, Willis Towers Watson PLC (WTW) shares rose 3.0% today, bringing the current price to $265.43. The stock has traded within a 52-week range of $

LONDON, June 15, 2026 (GLOBE NEWSWIRE) -- Willis, a WTW business (NASDAQ: WTW), today unveiled a new version of its Climate Diagnostic model to help risk managers better understand and respond to climate-driven volatility affecting property insurance markets.

Embedded within WTW’s Risk IQ platform, Climate Diagnostic is a climate risk technology capable of predicting the current and future impact of floods, windstorms and other material climate threats on an organisation’s assets, business activities and supply chain.

As extreme weather events become more severe and frequent, insurers worldwide are responding either by increasing the cost of property insurance or withdrawing from vulnerable regions entirely. With the costs of protection predicted to keep rising with climate risks and in some regions become increasingly unsustainable, the implications for individuals, businesses and economies will be long-lasting.

In order to help address this growing protection gap, Willis has embedded Climate Diagnostic into its broking workflows and risk engineering surveys. The enhanced analytics tool enables brokers and risk managers to identify and quantify the impact of acute climate hazards, such as extreme flooding or windstorm risk, on global assets and business interruption under the current and future climates.

Peter Carter, Head of Climate Practice at Willis, said: “The volatility and frequency of climate hazards are increasing. Embedding Climate Diagnostic in broking workflows and engineering surveys sets a new industry standard, with clients benefiting from a built-in scan of the risk against ongoing climate change volatility.”

Climate Diagnostic conducts scenario-based assessments across an organisation’s portfolio to identify current and future physical risk exposure to insurable climate-related perils, stress testing risk management and finance strategies in the short, medium and longer term. With this forward-looking approach, risk managers can incorporate safety measures into their risk transfer strategies that allow for rising climate volatility and explore alternative risk management methods, such as physical adaptation or alternative risk transfer solutions.

Climate Diagnostic also estimates the value of a portfolio exposed to levels of extreme weather risk and longer-term shifts in climate patterns. This supports the stress testing of current risk financing and risk transfer strategies amidst increasing climate volatility.

Peter Carter said: “Early sighting of assets exposed to climate-related perils gives risk managers the chance to build resilience, improving future insurability before disaster strikes.”

Key features of Climate Diagnostic include:

Interactive climatic and exposure maps to view highest risk areas - or physical asset portfolio exposures - for a selection of climate risks for given climate scenarios and time horizons, locate individual assets and identify financial exposure to each hazard.It is designed to be embedded in property broking and engineering workflows, helping clients consider climate volatility in risk management decisions.Climate Diagnostic data is scientifically sound, providing an independent forward-looking lens of insurable perils to clients. About WTW 
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organisations sharpen their strategy, enhance organisational resilience, motivate their workforce and maximise performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success - and provide perspective that moves you.

Learn more at wtwco.com.

Media contact
Andrew Collis, +44 (0) 7932 725267 | [email protected]

LONDON, May 20, 2026 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company, announced that its Board of Directors approved a regular quarterly cash dividend of $0.96 per common share for the quarter ended March 31, 2026. The dividend is payable on or about July 15, 2026 to shareholders of record at the close of business on June 30, 2026.

NEW YORK, May 27, 2026 (GLOBE NEWSWIRE) -- Willis, a WTW business (NASDAQ: WTW), today announced three leadership appointments in FINEX North America designed to strengthen its cyber strategy, deepen client engagement and support continued growth across the region. Annice Ma has been appointed Head of Cyber for FINEX North America.

LONDON, June 01, 2026 (GLOBE NEWSWIRE) -- 59% of directors and officers now consider geopolitical risks to be very important or extremely important to their organisation, according to the latest Directors and officers liability insurance survey by Willis, a WTW business, (NASDAQ:WTW), conducted in collaboration with international law firm, Reed Smith LLP. Geopolitical risks in particular has hit the top 7 global risks for directors and officers in a marked change from last year where it was only ranked 15th (out of 30 risks canvassed).

LONDON, June 02, 2026 (GLOBE NEWSWIRE) -- WTW (NASDAQ:WTW), a leading global advisory, broking and solutions company has today announced its acquisition of Redefind, an end-to-end web-based platform, designed to facilitate access to insurance products for crypto and digital assets.

This investment reflects WTW’s long-term strategy to expand into next-generation protection solutions for clients exposed to digital finance, crypto ecosystems and tokenised asset environments.

The proposition launches as a non-custodial, cost-of-recovery insurance solution, intended to support digital asset owners in the event of theft or loss. Coverage is designed to support expenses associated with forensic investigation, asset tracing, and legal recovery of stolen digital assets.

As part of the acquisition, Redefind’s founders, Richard Daws and Connor Edward joined Willis upon completion of the transaction.

The service will initially launch in the UK, with broader market and product expansion planned as capabilities continue to evolve.

Alastair Swift, head of global specialities at Willis said: “As digital assets continue to move further into the mainstream, demand for credible regulated protection solutions is increasing. Through this investment, WTW is taking a leading position to shape the future of risk transfer and protection in the digital economy.

“We are committed to supporting clients in navigating emerging financial and technology risks and to delivering trusted, regulated solutions backed by our global insurance expertise.”

Anthony Borgman, head of GB Affinity at Willis said: “We are delighted to have acquired Redefind and welcome its founders to WTW. Under Richard’s stewardship the business will continue to evolve with support from WTW’s Affinity practice and for wider distribution.

“This marks an important milestone in WTW’s broader digital strategy, providing a foundation to expand our capabilities in digital asset protection and crypto insurance.”

About Redefind

Redefind is a proprietary, end-to-end crypto insurance platform enabling individuals and institutions to purchase cryptocurrency and digital asset insurance across all forms of custody. Its enterprise-grade web application uses cryptographic proof of ownership to make previously uninsurable digital assets insurable.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

Media contact
Lauren David
[email protected] / +44 7385 947619

Willis Towers Watson remains a 'buy' despite a 20% share price decline and persistent AI disintermediation fears. WTW's bespoke insurance broking and consulting model is less vulnerable to rapid AI disruption than commoditized segments; AI also enhances internal productivity. Q1 results showed muted 3% organic growth, but 19% EPS growth and expanding margins, supported by buybacks and cost efficiency.