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Willis Towers Watson Public Limited Company
WTW is a global advisory and insurance broking firm that helps companies manage risk, pay their people, and get the most out of their capital.
WTW is a global advisory and insurance broking firm. Big companies hire it for two big jobs: to figure out and buy the right insurance, and to design pay and benefits for their employees. It also sells consulting on risk and capital, the money a business needs to keep running and grow. It's headquartered in London, with big operations in the United States and around the world.
The insurance broking part works like a matchmaker. A company needs coverage — for its factories, its lawsuits, its executives — but doesn't want to negotiate with dozens of insurers itself. WTW's brokers shop the market, place the coverage, and get paid a commission by the insurer, plus fees for advice. This is the largest chunk of the business. The people side — often called benefits — helps employers pick health plans, pensions, and reward programs, and gets paid by the employer for that advice. It also runs its own platforms and software for things like employee surveys and benefits administration. Competitors include Marsh & McLennan and Aon, both fierce rivals in broking and consulting. That trio dominates the industry, which makes scale and expertise the real moat — insurers know and trust the big brokers, and clients stay because switching is a hassle and bad advice is expensive. But it's a cyclical business: when insurance prices are soft, commissions shrink, and when clients tighten budgets, consulting fees get squeezed.
WTW has been reshaping itself. It sold its reinsurance broking arm, Willis Re, to Arthur J. Gallagher in 2022 after a planned merger with Aon was blocked by regulators. It has been buying smaller advisory firms to bulk up in areas like retirement and health, and it returns cash to shareholders through dividends and buybacks. The simple version: it sells expertise and access, and collects a fee every time a company needs to protect itself or take care of its people.
Saved answer · last researched 12 Nov 2026