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Willis Towers Watson Faces Pricing Pressure As Risk & Broking Growth Slows; What Lies Ahead?

Willis Towers Watson Public Limited Company reported first-quarter 2026 results characterized by modest organic revenue growth of 3%, adjusted operating margin expansion of 70 basis points to 22.3%, and adjusted diluted earnings per share increasing 19% year-over-year to $3.72. Revenue came in at the low end of the company’s guidance range, reflecting a challenging and volatile global market environment, notably elevated geopolitical risks in the Middle East that caused some regional clients to delay advisory projects. Despite these headwinds, operational efficiencies and investments in technology contributed to margin expansion and earnings growth. Segment performance varied with the Health, Wealth & Career (HWC) segment achieving 3% organic growth, driven by strong Health revenues up 6%, supported by international expansion, client retention, and new business wins. Wealth rose 4% due to increased retirement and investment activities.