Core Insights - WTW reported strong second-quarter results for 2024, with significant growth in earnings per share (EPS) and operating margins, driven by robust organic growth and operational efficiency [1][3] - The company raised its full-year 2024 targets for adjusted operating margin to 23.0%-23.5% and adjusted EPS to $16.00-$17.00, reflecting confidence in ongoing performance [1][9] Financial Performance - Revenue for Q2 2024 was $2.27 billion, a 5% increase from $2.16 billion in Q2 2023; on an organic basis, revenue also increased by 6% [2][4] - Income from operations rose to $212 million, up 49% year-over-year, with an operating margin of 9.4%, an increase of 280 basis points [4][71] - Adjusted operating income increased by 22% to $385 million, with an adjusted operating margin of 17.0%, up 240 basis points from the previous year [4][78] Segment Highlights - The Health, Wealth & Career (HWC) segment generated revenue of $1.26 billion, a 4% increase year-over-year, with organic growth driven by project work and client retention [7][27] - The Risk & Broking (R&B) segment reported revenue of $979 million, a 9% increase, with operating income rising 39% to $202 million and an operating margin of 20.6%, up 450 basis points [8][28] Cash Flow and Capital Allocation - Cash flows from operating activities were $431 million for Q2 2024, slightly up from $430 million in the prior year; free cash flow for the first half of 2024 was $361 million, an increase of $11 million year-over-year [26][6] - The company repurchased $200 million of its outstanding shares during the quarter, reflecting a commitment to returning value to shareholders [6] Outlook - WTW's updated targets for 2024 include revenue expectations of over $9.9 billion, with adjusted operating margin and adjusted diluted EPS revised upwards [27][30] - The company anticipates annual cost savings from its transformation program to reach approximately $450 million, with total costs to achieve the program estimated at $1.175 billion [30]

| --- | --- | --- | --- | |---------|--------------------|---------|------------------| | | | | | | June30, | Three Months Ended | June30, | Six Months Ended | | 2024 | 2023 | 2024 | 2023 | | $ 2,265 | $ 2,159 | $ 4,606 | $ 4,403 | (i) Equity includes (a) Ordinary shares $0.000304635 nominal value; Authorized 1,510,003,775; Issued 101,547,339 (2024) and 102,538,072 (2023); Outstanding 101,547,339 (2024) and 102,538,072 (2023) and (b) Preference shares, $0.000115 nominal value; Authorized 1,000,000,000 and I ...

Willis Towers Watson Public Limited Company (WTW) is set to report second-quarter 2024 earnings on Jul 25, before market open. The insurer delivered an earnings surprise in three of the last reported quarters while missing in one. Factors at Play Revenues in the second quarter are likely to have benefited from strong performances across all the segments and the increasing impact of ongoing investments in talent and technology. The Zacks Consensus Estimate of $2.26 billion indicates an increase of 4.8% from ...

Clarke and Garrard will work closely to drive the continued growth of WTW's Risk & Broking segment, which comprises more than 14,000 colleagues serving 140 countries and markets around the world. In her role as president, Risk & Broking, Clarke reports to Carl Hess, WTW's chief executive officer, and is responsible for the day-to-day financial and operational management and growth of the business. Clarke brings with her deep industry experience gained through a 25-year career that has included diverse leade ...

Hess said, "Lucy's addition to WTW further strengthens our Risk & Broking leadership team. I know she will help us relentlessly drive our strategic priorities forward and further enhance our specialization, digitization and optimization capabilities." LONDON, July 22, 2024 (GLOBE NEWSWIRE) -- WTW (NASDAQ:WTW), a leading global advisory, broking and solutions company, today welcomed Lucy Clarke as president, Risk & Broking. Adam Garrard takes on the new role of chairman, Risk & Broking. Commenting on her arr ...

Speaking about his appointment, Latalladi said, "I am excited about the future of WTW Technology and our ability to help transform WTW and enable colleagues to better serve our clients and drive growth through innovation." Most recently, Latalladi was with MetLife. During his 12-year tenure at the company, Latalladi held various leadership roles, including Chief Information Security Officer and Chief Technology Officer. Prior to MetLife, Latalladi held technology leadership roles at the Royal Bank of Canada ...

NEW YORK, July 16, 2024 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, today announced the appointment of Aartie Manansingh as Head of the Private Equity and Transaction Solutions Industry Group within Corporate Risk and Broking, North America (CRB NA). Additionally, Jorgen Andersson and Peter Galla will serve as Deputy Heads of the Division, with the new strategic leadership team bringing their deep industry knowledge to guide the next phase of significant ...

Core Insights - WTW has appointed Aartie Manansingh as the Head of the Private Equity and Transaction Solutions Industry Group within Corporate Risk and Broking, North America, with Jorgen Andersson and Peter Galla as Deputy Heads, aiming for significant growth in the division [1][5] Leadership Background - Aartie Manansingh has a background as a corporate M&A lawyer and has served as Head of M&A for the Americas at Hamilton Insurance Group before rejoining WTW in 2021, showcasing her expertise in the Mergers and Acquisitions sector [2] - Jorgen Andersson has nearly 18 years of experience at WTW, previously serving as the Financial Lines Leader, bringing valuable knowledge of risks in transactions [3] - Peter Galla has been with WTW since 2006, holding various leadership roles and providing strong executive insight into the risks associated with complex transactions [4] Strategic Vision - The new leadership team aims to develop a strategy that enhances the Private Equity and Transaction Solutions Industry Group, focusing on client perspectives and leveraging their collective experience [5] - The commitment to investing in people and technology is emphasized as a means to transform WTW's standing in the industry [5] Company Overview - WTW provides data-driven, insight-led solutions in people, risk, and capital, serving clients in 140 countries and markets [6]

The report found employers are being more conservative with their salary budgets as they anticipate lower demand resulting in longer-term stability in their employee base following a period of high resignation and turnover. While around two-fifths of employers (38%) report having trouble attracting and retaining talent in 2024, this figure has dropped almost 20 percentage points from two years ago (57%). In light of these issues, companies are looking to make longer-term changes to their compensation progra ...

The report found employers are being more conservative with their salary budgets as they anticipate lower demand resulting in longer-term stability in their employee base following a period of high resignation and turnover. While around two-fifths of employers (38%) report having trouble attracting and retaining talent in 2024, this figure has dropped almost 20 percentage points from two years ago (57%). In addition, total annual payroll expenses (which include salaries, bonuses, variable pay and benefit co ...