Willis Towers Watson (WTW) is a leading global advisory, broking, and solutions company. It provides data-driven solutions in people, risk, and capital management. WTW serves a wide range of clients, from major multinational corporations to middle-market companies, across more than 140 countries and markets. The company's core business model revolves around designing and delivering solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital. WTW operates in a competitive landscape, facing rivals such as Aon, Arthur J. Gallagher & Co., and Marsh & McLennan Companies.

• Employees: 48,000 (as of December 31, 2023)
• Geographic Footprint: More than 140 countries and markets
• Headquarters: London, England
• Founded: January 4, 2016 (through merger)
• Revenue: $9.483 billion (FY2023)
• Key Subsidiaries/Brands: Willis Group Holdings, Miller Insurance Services LLP, TRANZACT

• CEO: Carl A. Hess (since January 1, 2022)
• CFO: Andrew J. Krasner (since September 7, 2021)
• Chief Human Resources Officer: Kristy D. Banas (since August 16, 2021)
• Chief Operating Officer: Alexis Faber (since August 30, 2021)
• General Counsel: Matthew S. Furman (since January 4, 2016)
• Head of Risk and Broking: Adam L. Garrard (since January 1, 2022)
• Head of Health, Wealth and Career: Julie J. Gebauer (since January 1, 2022)
• Head of Europe: Anne Pullum (since August 30, 2021)
• Head of North America: Imran Qureshi (since August 30, 2021)
• Head of International: Pamela Thomson-Hall (since August 30, 2021)

Key executives have extensive experience in their respective fields, with many having served in leadership roles at WTW or its predecessor companies for several years.

• Annual Revenue: $9.483 billion (FY2023)
• Net Income: $1.055 billion (FY2023)
• Total Assets: $29.090 billion (as of December 31, 2023)
• Employees: 48,000 (as of December 31, 2023)
• Key Financial Highlights: Revenue increased by 7% year-over-year. Organic revenue growth was 8% for the year ended December 31, 2023.

WTW offers a broad range of services and solutions, categorized into:

• Health & Benefits: Strategy and design consulting, plan management service and support, broking, and administration across health, wellbeing, and other group benefit programs.
• Wealth: Actuarial support, plan design, and administrative services for pension and retirement savings plans, as well as investment advice and discretionary management solutions.
• Career: Advice, data, software and products to address clients' total rewards and talent issues.
• Risk & Broking: Risk advice, insurance brokerage, and consulting services, including property and casualty, affinity, and risk analytics.
• Insurance Consulting and Technology: Advice and technology solutions to the insurance industry.

WTW operates through two main segments:

• Health, Wealth & Career: Contributed 60% of total revenue in FY2023.
• Risk & Broking: Contributed 40% of total revenue in FY2023.

WTW's strategy focuses on a unified and integrated approach to advisory, broking, and solutions. Key strategic priorities include:

• Growing at or above market in priority areas, focusing on core opportunities with high growth and return.
• Simplifying the business to increase agility and effectiveness by streamlining the organizational structure and enhancing operations.
• Transforming operations to drive savings while enhancing client and colleague experiences through global platforms, right-shoring, and modernizing technology.

The company aims to grow revenue, improve margins, and increase cash flow, EBITDA, and earnings.

WTW operates in the highly competitive global advisory, broking, and solutions industry. Key trends affecting the business include:

• Increased competition from large consulting firms, accounting firms, and specialized service providers.
• Evolving technological landscape, including the growing importance of data analytics and AI.
• Regulatory and legislative changes impacting the insurance and human capital management sectors.
• Economic uncertainty and market volatility.

Major competitors include Aon, Arthur J. Gallagher & Co., Marsh & McLennan Companies, and other specialty, regional, and local firms. Market share information is not explicitly provided in the filing.

• Strategic and Operational Transformation Risks: The company's success depends on its ability to achieve its global business strategy and realize anticipated revenue growth and cost savings.
• Business Environment Risks: Macroeconomic trends, including inflation, changes in interest rates, and geopolitical tensions, can adversely affect the business.
• Human Capital Risks: The company depends on its executive officers, senior management, and skilled individual contributors; failure to attract and retain qualified personnel could materially affect operations.
• Intellectual Property, Technology, Cybersecurity and Data Protection Risks: Data breaches or improper disclosure of data could result in financial loss, regulatory actions, or reputational damage.
• Legal, Non-Financial/Regulatory and Compliance Risks: The company is subject to legal claims and regulatory scrutiny, and failure to comply with regulations could result in disciplinary action, fines, and reputational damage.