WTW: FY2017 revenues was up by 4% y-o-y

The broking and solutions company Willis Towers Watson (WTW) announced its FY 2017 total revenues were USD 8.2 billion, increasing by 4% y-o-y (USD 7.9 billion in 2016). FY 2017 net income was USD 592 million vs. USD 438 million in the prior-year.

Adjusted EBITDA was USD 1.90 billion, or 23.2% of total revenues, an increase from adjusted EBITDA of USD 1.77 billion, or 22.3% of adjusted revenues in the prior-year. This represents an increase of 90 basis points in Adjusted EBITDA margin over the prior-year.

Net income attributable to Willis Towers Watson increased to USD 568 million, from USD 420 million in the prior-year.

WTW said for the 12 months ended December 31, 2017, diluted earnings per share were USD 4.18, and adjusted diluted earnings per share were USD 8.51. Net income attributable to Willis Towers Watson and diluted earnings per share include pre-tax USD 269 million of transaction and integration expenses and USD 132 million of restructuring costs.

The company announced for the full year, it repurchased approximately USD 710 million of Willis Towers Watson stock, including the cancellation of shares related to the settlement of shareholder appraisal litigation.

"We just celebrated the second anniversary of Willis Towers Watson, and I couldn't be more pleased to see the evolution of our Company in two short years." said John HALEY, WTW's CEO. "The foundation we built in 2016 led to strong execution as exhibited in the 2017 financial results. (...) I look forward to seeing the continued evolution during 2018 and beyond."

For 2018, WTW expects constant currency revenue growth of around 3%, and 4% on an organic basis; and Adjusted Diluted Earnings per Share in the range of USD 9.88 to USD 10.12.

Related articles

Russian insurers set 4 key targets for ARIA in 2018

Representatives of insurers, members of All Russian Insurance Association, determined 4 key tasks for 2018: development of MTPL, life insurance, medical insurance, as well as improvement of legislation for home insurance against emergency cases, - said President of ARIA and RAMI, Igor YURGENS.


RNRC released its 2017 portfolio of losses

Russian National Reinsurance Company published its official report on loss portfolio for 2017. The report provides distribution of losses by classes, contract types and geography of insurance events.


Profit of ERGO Insurance group in Russia in 2017 increased by 39%

Net income of ERGO in Russia in 2017 increased by 39% up to RUB 314.4 million (EUR 4.56 million). GWP of ERGO group in Russia in 2017 increased by 9.5% up to RUB 9.7 billion (EUR 140.8 million). Total claims increased by 9% up to RUB 3.5 billion (EUR 50.8 million).



AIG appoined former CIA attorney as General Counsel

American International Group (AIG) announced that Caroline KRASS will join the company as Senior Vice President and General Counsel, General Insurance, and Deputy General Counsel, AIG, effective in March 2018.



"Insurance and Pensions reloaded" - the 7th EIOPA Annual Conference

The 7th EIOPA Annual Conference takes place today in Frankfurt am Main, Germany. A review of the current supervisory covergence issues and of the prospects of the Pan European Personal Pension Product are on the event's agenda, together with analyzing the ways in which regulation may enable innovation.



"IIF2017 - Insurance in the DIGITAL World" Conference took place in Vienna

"IIF2017 - Insurance in the DIGITAL World" conference brought together in Vienna well-known insurance professionals from all over the world who analyzed the latest digital trends in the industry, taking into account the fast digitalization of the financial services providers' world, in particular in the insurance field, which is creating both huge opportunities and strong challenges for the players.



Croatian Insurance Days Live

On 9 November has started in Opatija, Croatia, the 2017 edition of the Croatian Insurance Days Conference, the traditional meeting of the Croatian insurance top professionals with their European peers. XPRIMM Publications are supporting the event as Media Partners.



The 2017 Baden Baden Meeting: Short recap

The Baden-Baden meeting, one of the key events in the reinsurance calendar, has just set the final point of this year's edition. XPRIMM Publications have reported from the meeting's premises. Let's recap!


Baden Baden Headlines 3: CEE insurance markets are attractive for reinsurers

Central and Eastern Europe insurance markets are an important source of business for Lloyds, total premium income from this region increasing by EUR 64 million since 2010, pointed out the Lloyd's representative in a seminar dedicated to CEE insurance markets: "We are seeing strong growth from Czech Rep, Poland, Slovakia and Ukraine. At the same time are some contractions from Russia, Bulgaria, Romania and Hungary due to challenging trading conditions as political implications and other sanctions".


Baden Baden Headlines 2: cyber insurance market set to grow under regulatory presure; nat cat events more frequent, but losses per event are decreasing

Asian insurance market, especially the Indian market - are considered to be "the new El-Dorado" of the global re/insurance market, with rapidly expanding markets and an dynamic environment: "Indian P&C re/insurance markets are expected to grow at a pace of 15% per annum", according  to Victor PEIGNET, CEO, Global P&C, SCOR SE. The French -based reinsurer setted-up its Indian branch in 2016, after the authorisation from the local market authority - IRDAI. India's re/insurance market has become more attractive for global companies following the relaxation of regulatory requirements, and lately, "big names" in the industry entered the market by opening branches: GEN Re, SCOR, Lloyd's of London, MUNICH Re, SWISS Re, Reinsurance Group of America (RGA), HANNOVER Re, XL Catlin and others.


See all