Welcome to our dedicated page for Willis Towers news (Ticker: WTW), a resource for investors and traders seeking the latest updates and insights on Willis Towers stock.
News about Willis Towers Watson Public Limited Company (WTW) reflects its role as a global advisory, broking and solutions company focused on people, risk and capital. Because WTW operates through its Health, Wealth & Career and Risk & Broking segments, its news flow spans employee benefits, pensions, insurance broking, risk analytics and technology for insurers.
On this page, readers can follow WTW news related to earnings announcements, capital markets activity, product launches and strategic transactions. Recent disclosures include plans to announce fourth quarter and full year financial results, the pricing of senior notes issued by Willis North America Inc. and guaranteed by WTW, and the entry into a revolving credit facility under a Third Amended and Restated Credit Agreement.
WTW also issues news about its Insurance Consulting and Technology offerings, such as the launch of Radar Fusion, an augmented underwriting technology, and the Radar Connector for Databricks, which integrates its Radar analytics platform with the Databricks Data Intelligence Platform. These updates illustrate how WTW uses data and analytics to support insurers with pricing, underwriting and governance.
In addition, WTW publishes research-driven releases, including its analysis of funded status for large U.S. corporate defined benefit pension plans and its Commercial Lines Insurance Pricing Survey (CLIPS), as well as political risk reports produced by Willis, a WTW business. Strategic news items also cover agreements to acquire Newfront and Cushon, subject to regulatory approvals and customary closing conditions.
Investors, clients and observers can use this news feed to monitor how WTW develops its advisory, broking and technology capabilities, how it approaches risk and capital management topics, and how its transactions and research initiatives may influence its position within the insurance agencies and brokerages industry.
According to a WTW survey, 34% of U.S. workers aged 50+ are either phasing into retirement or want to do so. This trend comes as 46% of older workers expect to work past 70, up from 36% two years ago. The survey reveals that 79% of workers aren't saving enough for retirement, and only 52% feel they're on track. Financial security is the primary driver for retirement decisions, followed by health and leisure time.
The survey also highlights that 66% of employees view their employer-provided retirement plan as more important than ever, with 72% considering it their primary savings method. Notably, 55% cite their retirement plan as a key reason to stay with their current employer, up from 48% in 2017.
WTW (NASDAQ: WTW) has launched its Natural Catastrophe Review for Jan-June 2023, highlighting the potential impact of El Niño on renewable energy production and global weather patterns. Key findings include:
1. El Niño could cause wind drought in North America, affecting renewable energy production.
2. 2023 has seen five category five storms in the first five months.
3. Canadian wildfires have burned over 11 million hectares.
4. Human activities often exacerbate natural disasters, as seen in floods in New Zealand and Italy, and wildfires in Chile.
5. Potential socio-economic tipping points due to gradual climate change.
6. El Niño events lead to increased global surface temperatures.
The report emphasizes the importance of incorporating scientific analysis in natural catastrophe risk modeling to help businesses understand and mitigate risks.
WTW (NASDAQ: WTW) has been recognized in the Forbes list of America's Best Employers for Women 2024. This prestigious award, presented by Forbes and Statista Inc., is based on an independent survey of over 150,000 women working for companies with at least 1,000 employees in the U.S. The evaluation considered personal and public assessments, as well as diversity among top executives and board members.
The survey covered various aspects including atmosphere, development, diversity, image, salary, workplace conditions, representation, pay equity, discrimination, flexibility, family support, and parental leave. Over 4 million employer evaluations were considered in the process.
Kristy Banas, CHRO at WTW, expressed honor at the recognition, stating it acknowledges their commitment to making WTW a great place for all colleagues to build careers globally, fostering a sense of belonging.
WTW (NASDAQ: WTW) reported strong Q2 2024 results, with revenue increasing 5% to $2.3 billion and organic growth of 6%. The company saw significant improvements in profitability, with diluted EPS up 55% to $1.36 and adjusted diluted EPS up 24% to $2.55. Operating margin expanded by 280 basis points to 9.4%, while adjusted operating margin rose 240 basis points to 17.0%.
Both major segments, Health, Wealth & Career (HWC) and Risk & Broking (R&B), showed strong performance. HWC revenue grew 4% to $1.26 billion, with a 360 basis point increase in operating margin to 21.9%. R&B revenue increased 9% to $979 million, with a 450 basis point jump in operating margin to 20.6%.
Based on strong H1 2024 performance, WTW raised the low end of its full-year 2024 outlook for adjusted operating margin to 23.0%-23.5% and adjusted EPS to $16.00-$17.00.
WTW (NASDAQ: WTW) has announced key leadership changes in its Risk & Broking segment. Lucy Clarke joins as president, Risk & Broking, reporting to CEO Carl Hess, while Adam Garrard assumes the new role of chairman, Risk & Broking. The segment comprises over 14,000 colleagues serving 140 countries and markets globally.
Clarke, with 25 years of industry experience, most recently served as president of Marsh Specialty and Global Placement. Her appointment is expected to drive WTW's strategic priorities, enhancing specialization, digitization, and optimization capabilities. Garrard expressed confidence in Clarke's ability to align with WTW's market strengths and growth priorities, citing her proven track record and focus on talent.
WTW (NASDAQ: WTW) has announced the appointment of Eric Latalladi as the new Global Head of Technology, effective July 22, 2024. Latalladi brings over 25 years of technology experience to the role, with a proven track record in enabling growth and driving change. He joins WTW from MetLife, where he held various leadership positions, including Chief Information Security Officer and Chief Technology Officer, during his 12-year tenure.
Alexis Faber, WTW's Chief Operating Officer, expressed confidence that Latalladi's leadership will take WTW Technology into its next phase of growth. Latalladi himself stated his excitement about the future of WTW Technology and its potential to transform the company, enhance client service, and drive innovation-led growth.
WTW (NASDAQ: WTW) has announced new leadership for its Private Equity and Transaction Solutions Industry Group within Corporate Risk and Broking, North America (CRB NA). Aartie Manansingh has been appointed as Head of the division, with Jorgen Andersson and Peter Galla serving as Deputy Heads. This strategic leadership team brings deep industry knowledge to guide the division's next growth phase.
Manansingh, who rejoined WTW in 2021, has a background in M&A law and transactional risk underwriting. Andersson, with nearly 18 years at WTW, brings expertise in financial lines and transaction-specific exposures. Galla, who joined in 2006, contributes strong industry relationships and experience in guiding clients through complex transaction risks.
Mike Chang, Head of CRB North America, expressed confidence in the new leadership team's ability to expand this critical industry division. The appointments reflect WTW's commitment to enhancing its services in the private equity and transaction solutions sector.
WTW's latest Salary Budget Planning Report reveals a more conservative approach to salary budgets among U.S. employers in 2024. Key findings include:
- 47% of organizations report lower salary budgets than the previous year
- Overall median pay raise for 2024 dropped to 4.1%, down from 4.5% in 2023
- Employers anticipate longer-term stability in their workforce
- 38% of employers report difficulty attracting and retaining talent, down from 57% two years ago
- Salary budget increases expected to rise by 3.9% in 2025
Companies are making long-term changes to compensation programs, including targeted reviews and improving workplace flexibility. The focus is shifting towards a more holistic approach to reward programs, considering factors like bonuses, long-term incentives, and health benefits.
Global mergers and acquisitions (M&A) activity maintained momentum in Q2 2024, with 166 deals over $100 million completed, matching Q1 2024 and surpassing Q2 2023 by 28%.
Thirty-five large deals over $1 billion were closed, continuing a rising trend. Four mega deals over $10 billion were completed, totaling nine for the year, compared to three in H1 2023.
Intra-sector acquisitions increased to 74% of total deals, up from 57% in Q1 2023. Despite rising market confidence and improved conditions, acquirers underperformed the market by 9.3 percentage points in Q2 2024.
North American and European acquirers struggled, underperforming regional indexes by 7.7% and 10.7%, respectively. In contrast, Asia Pacific outperformed its index by 1%.
Challenges include inflation, high interest rates, and political uncertainty, emphasizing the need for cautious dealmaking and thorough due diligence.
WTW (NASDAQ: WTW), a global advisory, broking, and solutions firm, has announced that it will release its second-quarter financial results on July 25, 2024, before the market opens.
The company will hold a conference call at 9:00 a.m. Eastern Time on the same day to discuss the results and answer questions. A live broadcast of the call will be available on WTW's website, with an online replay accessible shortly after the call concludes.
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