Global insurance and reinsurance broker Willis Towers Watson has reported 6% overall growth for 2019, with revenue standing at $9.04 billion.
Organic revenue growth was reported at 6% for the quarter and 5% for the full year.
Also for the fourth quarter, WTW’s Investment, Risk & Reinsurance segment posted revenue of $314 million, an increase of 12% from $280 million in the prior-year quarter.
Total revenue increased 13% to $2.69 billion for the quarter.
For the full year, net income was $1.04 billion, a 50% increase from $695 million for the same period in the prior year.
Operating income margin improved by 520 basis points to 14.7% from 9.5% in 2018.
“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.”
In the Human Capital & Benefits segment revenue for Q4 was reported at $865 million, an increase of 3% from $843 million in the prior-year fourth quarter.
The Corporate Risk & Broking segment had revenue of $877 million, an increase of 7% (9% increase constant currency and 9% increase organic) from $816 million in the prior-year fourth quarter.
