Insurance broker WTW's profit climbs on strong demand for risk advice

Willis Towers Watson

24/04/2025 11:39

April 24 (Reuters) - Insurance broker WTW WTW.O reported a 23% jump in first-quarter profit on Thursday, helped by robust growth in its risk and broking unit.

Despite fears of an economic downturn affecting consumer confidence, a resilient labor market and wage growth have sustained insurance spending, benefiting brokers whose commissions depend on premiums insurers charge.

The uncertainty sparked by worries of a trade war has also increased demand for risk advice and consulting services that WTW specializes in.

Revenue from the company's risk and broking business climbed 7% to $1.03 billion.

Overall profit rose to $239 million or $2.33 per share, compared with $194 million or $1.83 per share a year earlier.

Its shares have gained 4% so far this year, while rivals Marsh & McLennan MMC.N and Aon AON.O are up 3.1% and 2.7%, respectively.

(Reporting by Niket Nishant in Bengaluru; Editing by Vijay Kishore)

((Niket.Nishant@thomsonreuters.com;))