Willis Towers Watson has seen revenue for 2019 hit $9.04bn, a 6% rise from the year previous.
In addition, revenue for Q4 2019 was $2.69bn, a 13% increase year-on-year compared to $2.37bn.
Net income for Q4 2019 was $544m, 44% than the $378m earned in the prior year fourth quarter. For the whole of 2019, net income totalled $1.04bn, a 50% spike from 2018.
Net income attributable to Willis Towers Watson and diluted earnings per share for the year included a pre-tax $13m related to the acquisition of TRANZACT, a $1.2bn deal.
Income from Operations for 2019 was $1.83bn or 20.3% of revenue.
“For the year, Willis Towers Watson generated 5% organic revenue growth, which was broad-based across all our businesses and 6% growth overall. In addition to our continued progress on the operational front, we successfully completed the acquisition of TRANZACT which helped significantly strengthen Willis Towers Watson’s overall growth profile as total revenue increased 13% in the fourth quarter versus prior year”, said John Haley, Willis Towers Watson’s chief executive officer.
“As we look ahead to fiscal year 2020, we remain focused on executing our strategy and confident in our ability to continue delivering significant value for our clients, colleagues and shareholders.”
With regards to how Brexit will affect Willis Towers Watson, it said in a statement: “Willis Towers Watson is committed to providing continuity of service and transition plans for its clients and partners post Brexit. While there are still significant uncertainties with respect to Brexit and its impact on the regulatory environment, we believe that our Company is well-positioned to operate in a post-Brexit environment, given our extensive footprint across Europe and the UK. Regardless of the final Brexit outcome, we are fully committed to helping clients understand and navigate its impact to their business and the resulting changing regulatory landscape.”
So far in 2020, Willis Towers Watson has partnered with eBaoTech, providing a one-stop insurance middle office platform to accelerate digitalisation across the sector.
Willis Towers Watson’s rating engine, Radar Live, will integrate with eBaoTech’s middle office platform InsureMO, which is designed for open API collaboration.