Global insurance broker WTW announced Q4 2022 revenue worth USD 2.72, an increase of 1% as compared to the same period in the prior year, while for the year ended December 31, 2022 the company reported revenue worth USD 8.87 billion vs. USD 9.0 billion for the prior year.

Net Income for the fourth quarter of 2022 was USD 593 million, down 75% compared to Net Income of USD 2.4 billion in the prior-year fourth quarter.

Net Income for the year ended December 31, 2022 was USD 1.0 billion, down 76% compared to Net Income of USD 4.2 billion in the prior year.

"The fourth quarter was a solid finish to a strong year for WTW," said Carl Hess, WTW's chief executive officer.

"For the fourth quarter, revenue and operating margins increased over prior year. In addition, for the full year, we delivered results that were in line with our expectations, including healthy organic revenue growth and adjusted operating margin expansion. (...)

We enter 2023 with momentum and remain focused on executing on our Grow, Simplify and Transform strategic priorities, accelerating cash flow conversion and achieving our long-term goals."