Willis Towers Watson grows reinsurance segment by 5% YOY in Q4 2018
Willis Towers Watson has grown the commissions and fees of its reinsurance business (Investment, Risk & Reinsurance) by 5 percent year on year in the fourth quarter of 2017 to $300 million. Organically, the recorded growth in the segment was 4 percent.
Wholesale led the growth for the segment due to increased demand in the marine business and favourable timing, the company said in a Feb. 8 statement.
Willis Towers Watson’s total revenues grew 8 percent year on year to $2.1 billion in the fourth quarter of 2017. Commissions and fees for the fourth quarter of 2017 totalled $2.05 billion, an increase of 8 percent compared to the same period in the prior year.
For the full year of 2017 total revenues grew 4 percent year on year to $8.2 billion.
The broker recorded a provisional net tax benefit of $204 million in the fourth quarter in connection with US Tax Reform.
For the fourth quarter of 2017, net income attributable to Willis Towers Watson increased to $245 million compared to a net income of $142 million for the same period in the prior-year. For the full year 2017, net income attributable to Willis Towers Watson grew to $568 million compared to a net income of $420 million in 2016.
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