Global re/insurance broker WTW posted 2021 total revenue of USD 9 billion, an increase of 4% y-o-y as compared to USD 8.62 billion a year before. FY 2021 income from operations was USD 2.2 billion, or 24.5% of revenue, an increase from USD 859 million or 10.0% of revenue compared to the prior year. Adjusted operating income was USD 1.8 billion, or 19.9% of revenue.

For the fourth quarter of 2021, WTW revenue was USD 2.71 billion, an increase of 1% as compared to USD 2.67 billion for the same period in the prior year. Income from operations for the fourth quarter of 2021 was USD 690 million, or 25.5% of revenue, an increase from USD 579 million or 21.7% of revenue in the fourth quarter of 2020. Adjusted operating income was USD 871 million, or 32.2% of revenue.

On business segments, Q4 2021 WTW revenues are detailed as follows:

• The Human Capital & Benefits (HCB) segment had revenue of USD 884 million, an increase of 2% y-o-y from USD 865 million in the prior-year fourth quarter.
• The Corporate Risk & Broking (CRB) segment reported revenue of USD 882 million, a decrease of 1% from USD 888 million in Q4 2020.
• The Investment, Risk & Reinsurance (IRR) posted Q42021 revenue of USD 199 million, a decrease of 2% y-o-y from USD 205 million
• The Benefits Delivery & Administration (BDA): USD 729 million, up by 5% y-o-y from USD 693 million a year before.

WTW mentioned that that IRR revenue now excludes the Reinsurance line of business which has been reported as discontinued operations, following the sale of Willis Re to Arthur J. GALLAGHER at the end of 2021.

"The fourth quarter marked the end of a solid fiscal year at WTW. For the year, we delivered revenue growth and meaningful margin expansion. While the results are in line with our expectations, they do not fully reflect the near and long-term potential of the Company," said Carl HESS, WTW's Chief Executive Officer.