WTW reported net Income for the fourth quarter of 2024 of $1.25 billion, compared to net income of $623 million in the same period in 2023. However, the broker saw a net loss for the year of $88 million, compared with net income of $1.1 billion during 2023.
The 2024 loss was primarily related to more than $1.0 billion in impairment charges related to the sale of its direct-to-consumer insurance distribution business, TRANZACT, to the private equity firm GTCR and Recognize, a technology services investment platform, for $632.4 million. The TRANZACT deal was completed in January 2025 and first announced in October 2024.
WTW’s diluted earnings per share was $12.25 for the quarter, up 105% over prior year, while the diluted loss was $0.96 for the year.
Q4 revenue increased 4% to $3.0 billion from $2.9 billion in Q4 2023.
Q4 revenue increased 4% to $3.0 billion, compared with $2.91 billion Q4 2023. Full-year revenue increased 5% to $9.93 billion from $9.48 billion reported during FY 2023.
Organic revenues grew by 5% for both the quarter and the year, WTW confirmed. (Editor’s note: Marsh McLennan reported full-year and quarterly organic growth of 7% while Aon report FY and Q4 organic growth of 6%).
“WTW is entering 2025 with considerable momentum after delivering on our 2024 financial targets through solid revenue growth, robust margin expansion and earnings growth,” according to Carl Hess, WTW’s chief executive officer, in a statement.
The company’s Risk & Broking segment had Q4 revenue of $1.14 billion, an increase of 6% (7% increase constant currency and organic) from $1.08 billion in the prior year. R&B’s Q4 operating income rose 8% to $383 million from $354 million during Q4 2023.
The R&B segment comprises Corporate Risk & Broking (CRB) and the company’s Insurance Consulting and Technology (ICT) business.
WTW said CRB’s organic revenue growth was driven by higher levels of new business activity and strong client retention, while ICT’s organic revenue growth was driven primarily by strong software sales in technology.
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