Global insurance and reinsurance broking group WTW generated revenue of $2.46 billion in Q3 2026, an increase of 8% year-on-year, while organic revenue grew by 4%.
WTW’s income from operations increased by 3% to $429 million, although the operating margin declined by 90 basis points to 17.4%.
The firm’s adjusted operating income rose by 15% to $539 million in Q3 2026, with the adjusted operating margin expanding by 150 basis points to 21.9%, compared with 20.4% a year earlier.
Adjusted net income also increased by 13% to $339 million for the quater, while adjusted diluted earnings per share climbed by 18%.
Within WTW’s Risk & Broking segment, revenue increased to $1.087 billion in Q3 2026, up 8% from the same period of 2025, including organic growth of 5%.
Operating income within this segment rose by 14% to $216 million, while the operating margin improved by 100 basis points to 19.8%.
Notably, Corporate Risk & Broking recorded organic revenue growth in Q3 2026, supported by strong new business activity in North America and International, alongside higher book-of-business settlement activity.
Insurance Consulting and Technology also delivered organic revenue growth in the quarter, primarily driven by strong software sales in its Technology practice.
Meanwhile, the Health, Wealth & Career segment reported revenue of $1.35 billion in Q3 2026, up 7% year-on-year, with organic growth of 4%.
Operating income in this segment increased by 10% to $398 million, and the operating margin improved by 90 basis points to 29.5%.
Health benefited from new business and strong renewals across all regions, while Wealth was supported by retirement work outside North America and new client wins, and Career by higher compensation survey sales, a return to typical survey delivery timing and increased communications project work.
“WTW delivered another quarter of solid results in the face of a volatile market environment,” said Carl Hess, WTW’s Chief Executive Officer, highlighting the strength and resilience of the business.
Hess added that investments in talent, technology and innovation were helping differentiate the company in the market. He also pointed to early progress under Propel, WTW’s AI Acceleration Plan, which is intended to enhance client service, unlock growth opportunities and improve operational efficiency.
The company said Propel had generated $18 million in annualised run-rate savings from its launch through September 30, 2026.
WTW expects the programme to deliver approximately $350 million in net run-rate savings, after reinvestment to support growth, and an adjusted operating margin of around 30% in 2028.
To achieve these targets, WTW said it will invest approximately $625 million in cash and incur around $25 million in non-cash charges as the programme runs through the end of 2028.
Looking ahead, WTW’s 2026 financial considerations point to mid-single-digit organic revenue growth at group level, with mid-single-digit growth expected in Risk & Broking.
WTW noted that its Willis Re joint venture is expected to represent a headwind of approximately $0.30 to adjusted diluted earnings per share in 2026.
