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Operating Income by Segment
Shows the profitability of each business unit, highlighting which segments are driving earnings and which may require strategic adjustments.Be careful comparing pre‑ and post‑2022 data: WTW consolidated legacy Corporate and other subsegments into Risk & Broking, so zeros before 2022 reflect reporting changes, not absent economics. Health, Wealth & Career is the steady engine — recurring Health revenue and year‑end settlement seasonality drive outsized Q4 operating income and underpin margin strength, while Risk & Broking’s operating income is recovering but growth has slowed and recent margin gains owe partly to FX/book activity. Management’s AI/productivity push should lift margins, but R&B pricing pressure and regional timing risks cap near‑term upside.
Date | Health, Wealth & Career | Risk & Broking | Corporate Risk & Broking | Investment Risk & Reinsurance | Benefits Delivery & Administration |
|---|---|---|---|---|---|
Jun 30, 2026 | $306.00M | $258.00M | $0.00 | $0.00 | $0.00 |
Mar 31, 2026 | $346.00M | $252.00M | $0.00 | $0.00 | $0.00 |
Dec 31, 2025 | $729.00M | $435.00M | $0.00 | $0.00 | $0.00 |
Sep 30, 2025 | $361.00M | $189.00M | $0.00 | $0.00 | $0.00 |
Jun 30, 2025 | $280.00M | $222.00M | $0.00 | $0.00 | $0.00 |
Mar 31, 2025 | $311.00M | $226.00M | $0.00 | $0.00 | $0.00 |
Dec 31, 2024 | $776.00M | $383.00M | $0.00 | $0.00 | $0.00 |
Sep 30, 2024 | $329.00M | $170.00M | $0.00 | $0.00 | $0.00 |
Jun 30, 2024 | $276.00M | $202.00M | $0.00 | $0.00 | $0.00 |
Mar 31, 2024 | $336.00M | $203.00M | $0.00 | $0.00 | $0.00 |