Willis Towers Stock Price, News & Analysis

WTW (NASDAQ: WTW) has announced the appointment of Sean Deehan as the new leader for Hong Kong and Macau, effective September 1, 2022. He will also maintain his role as the Hong Kong Market Leader for the company's Insurance Consulting & Technology division. Deehan brings over 25 years of experience in the life and health insurance sectors, including significant time spent in Mainland China. The appointment reflects WTW's strategic focus on enhancing operations in the key financial hub amidst the region's post-pandemic recovery.

WTW reported second-quarter 2022 financial results with total revenue of $2.03 billion, a 3% decline year-over-year, but showing 3% organic growth. Diluted EPS fell 31% to $0.97, while adjusted diluted EPS increased 9% to $2.32. Income from operations was $137 million (6.7% margin). The company raised its target for run-rate savings from $30 million to over $80 million for 2022. WTW repurchased $471 million in shares this quarter, focusing on investment in growth.

Ørsted has achieved full accreditation through the Climate Transition Pathway (CTP) framework, demonstrating alignment with the Paris Agreement's carbon reduction goals. The company has transformed from a high-carbon utility to a leader in renewable energy, reducing emissions intensity by over 87% since 2006. This recognition highlights Ørsted's commitment to a low-carbon future, with goals to decarbonize its supply chain by 2040. WTW expresses pride in supporting Ørsted's climate initiatives, marking a significant step towards a sustainable business environment.

WTW reports robust M&A activity with the third highest half-year volume since 2008, completing 441 deals over $100 million in H1 2022. The Asia Pacific region outperformed others, while North America and Europe lagged. Despite slowing deal activity from 2021's record of 484 deals, transaction volumes remain above pre-pandemic levels. However, market volatility has negatively impacted deal performance, with buyers underperforming the market by 4.8 percentage points. The average deal closure time increased, with 60% exceeding 70 days.

WTW has announced the acquisition of Butterwire, a FinTech specializing in climate risk analytics, enhancing its market position. The deal aims to improve WTW's capabilities in climate-related financial risk management globally. Butterwire's team brings advanced data analytics, artificial intelligence, and machine learning skills, furthering WTW’s service offerings under its Climate and Resilience Hub. This acquisition integrates Butterwire's technology, including the Climate Transition Value at Risk methodology, which aligns with Paris Agreement goals, thereby reinforcing WTW’s commitment to sustainability.