Willis Towers Watson PLC
wtwco.comWhat Do They Do?
Provides insurance brokerage and risk, benefits and workforce consulting and administration to companies and employers, public agencies and nonprofits.
10-K for FY2025, filed Feb 25, 2026As an insurance broker, we act as an intermediary between our clients and insurance carriers by advising our clients on their risk…View ↗
WTW offers its clients a broad range of services and solutions designed to help them identify and control risks, while also enhancing…View ↗
The Health, Wealth & Career (‘HWC’) segment provides an array of advice, broking, solutions and technology for employee benefit plans…View ↗
The Risk & Broking (‘R&B’) segment provides a broad range of risk advice, insurance brokerage and consulting services to clients globally…View ↗
How Do They Make Money?
WTW earns commissions or negotiated fees for placing insurance policies, generally when a policy takes effect or placement is complete. Consulting clients typically pay monthly as work is performed, while administration clients generally pay monthly for ongoing services once that phase begins.
10-K for FY2025, filed Feb 25, 2026Revenue from our broking services consists of commissions or fees negotiated in lieu of commissions. At times, we may receive additional…View ↗
We recognize revenue for most broking arrangements as of a point in time at the later of the policy inception date or when the policy…View ↗
Fee terms can be in the form of fixed-fees (including fixed-fees offset by commissions), time-and-expense fees, commissions…View ↗
We have engagement letters with our clients that specify the terms and conditions upon which the engagements are based. These terms and…View ↗
$9.7B
-
10-K for FY2025, filed Feb 25, 2026
$9.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Broking
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
46%
FY2022: 48%
|
Broking, FY2025
$4.3B Sources
|
Sold outright |
|
Consulting
Recurring
10-K for FY2025, filed Feb 25, 2026 |
35%
FY2022: 33%
|
Consulting, FY2025
$3.3B Sources
|
Recurring |
|
Outsourced administration
Recurring
10-K for FY2025, filed Feb 25, 2026 |
12%
FY2022: 12%
|
Outsourced administration, FY2025
$1.2B Sources
|
Recurring |
|
Other
|
6.8%
FY2022: 6.0%
|
Other, FY2025
$644M Sources
|
|
|
Service
|
99%
FY2022: 99%
|
Service, FY2025
$9.4B Sources
|
Who Are Their Customers?
WTW advises companies and employers, public agencies, nonprofits and insurers on insurance, benefits and workforce needs; it also places insurance coverage with carriers for clients.
10-K for FY2025, filed Feb 25, 2026Our clients operate on a global and local scale in a multitude of businesses and industries throughout the world and generally range in…View ↗
As an insurance broker, we act as an intermediary between our clients and insurance carriers by advising our clients on their risk…View ↗
The Health, Wealth & Career (‘HWC’) segment provides an array of advice, broking, solutions and technology for employee benefit plans…View ↗
The Risk & Broking (‘R&B’) segment provides a broad range of risk advice, insurance brokerage and consulting services to clients globally…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 17 cents of every revenue dollar as net income in FY2025 and turned 16 cents into free cash flow.
10-K for FY2025, filed Feb 25, 2026
$2.2BView ↗
10-K for FY2025, filed Feb 25, 2026
$1.6BView ↗
10-K for FY2025, filed Feb 25, 2026
$1.5BView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Jul 30, 2026
Open tableView ↗
Flat. Revenue was $9.7B in FY2025, about the same as the $9B of FY2021.
Who Do They Compete With?
Competes with Aon, Arthur J. Gallagher, Brown & Brown, Cognizant Technology Solutions, Marsh & McLennan, Robert Half International, Milliman, Deloitte, Ernst & Young, PricewaterhouseCoopers, KPMG, SunGard, Automatic Data Processing, Fidelity, WageWorks, and HealthEquity
10-K for FY2025, filed Feb 25, 2026We face competition in all fields in which we operate, based on factors including global capability, product breadth, innovation, quality…View ↗
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