Willis Towers Watson Public Limited Company (WTW) reports developments across its advisory, broking and solutions businesses in people, risk and capital. News commonly covers earnings from Health, Wealth & Career and Risk & Broking, insurance brokerage and risk consulting activity, employee benefits, workplace pensions, benefits delivery and outsourcing, and insurance consulting technology.
Company updates also include product launches such as transactional-risk insurance, catastrophe and reputational-risk research, AI and technology adoption, acquisition integration in brokerage and workplace savings, leadership appointments, share repurchase plans and client or brand partnerships.
WTW announces the appointment of Andrew Brunero as the global head of downstream energy broking, enhancing its natural resources business. Brunero, formerly with Marsh Energy, will focus on international growth strategies. The company has also appointed Will Fremlin-Key as the head of mining and metals, and Ahmed Abdel-Gawad as head of natural resources for the CEEMEA region. These strategic hires reflect WTW's commitment to strengthening its global presence in the natural resources sector.
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WTW Appoints Christian Ryan as Industry Specialties Leader
WTW (NASDAQ: WTW) announced the reappointment of Christian Ryan as the Industry Specialties Leader for Corporate Risk & Broking in North America, effective September 6, 2022. Ryan, who previously worked at WTW from 2005 to 2014, has a strong background in industry specialization. Following his tenure at Marsh, where he led the Hospitality, Sports, and Entertainment practice, he returns to WTW with extensive industry experience. His role is expected to enhance WTW's client services by leveraging industry expertise and insights.
Assets under management at the world's top 300 pension funds reached a record $23.6 trillion in 2021, showing an 8.9% increase from the previous year. While this marks a significant milestone, growth has slowed from 11.5% in 2020. North America dominates, holding 45.6% of global assets, primarily due to a 9.2% growth in invested assets. Despite the overall positive growth, pension funds face strategic challenges such as rising inflation and increasing governance pressures related to ESG issues. These concerns may threaten their long-term funding statuses.
WTW (NASDAQ: WTW) has declared a quarterly cash dividend of $0.82 per common share for the quarter ended June 30, 2022. This dividend will be payable on or about October 17, 2022 to shareholders of record as of the close on September 30, 2022. WTW continues to provide data-driven solutions in people, risk and capital, leveraging expertise across 140 countries to enhance performance and resilience for organizations.
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.
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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.