Global insurance broker WTW’s revenue in the first quarter of 2026 achieved 8% (organic growth of 3%), reaching more than US$2.4 billion, and the company’s business revenue increased by 4% year-on-year to US$448 million.
Excluding the impact of foreign exchange, revenue increased by 4% and operating margin fell to 18.6% in 1Q26 from 19.4% in the same period last year. Adjusted operating income increased 12% to $537 million, compared with $480 million in the first quarter of 2025.
The entire group’s net profit increased by 27% year-on-year to US$303 million, and adjusted net profit increased by 13% to US$357 million.
Within the company’s Risk & Brokerage business, total revenue increased 9% and organic revenue increased 2% to more than $1.1 billion, driven by organic revenue growth driven by new business activity and strong client retention in the Global Enterprise Risk & Brokerage business, as well as organic revenue growth primarily from strong software sales in the Technology practice within the Insurance Advisory and Technology segments.
Risk and Brokerage segment operating income increased 12% to $252 million in 1Q26, while operating margin increased 60 basis points to 22.6%, primarily due to the impact of foreign exchange.
Within WTW’s Health, Wealth and Careers business, total revenue increased 9% and organically increased 3% to nearly $1.27 billion. The Health business performed strongly in international markets, driven by new business wins and renewals, while the Wealth segment delivered organic revenue growth on the back of higher levels of retirement work in all regions, as well as growth in the Investments business.
This was partially offset by a decline in Cree’s organic revenue, with WTW noting customers deferred discretionary work due to geopolitical uncertainty in the Middle East. Additionally, organic revenue from benefits delivery and outsourcing declined slightly during the quarter.
Operating income in the Health, Wealth and Careers segment increased 11% year over year to $346 million, driven by improvements in operating leverage and expense discipline, with operating margin increasing 60 basis points to 27.3%.
Carl Hess, CEO of WTW, commented: “WTW delivered first-quarter results that are a testament to our strong operating discipline and continued progress on our strategy. While more challenging global markets created near-term headwinds to organic growth, our continued focus on improving efficiency drove margin expansion and significant earnings per share growth. Our investments in people, AI and innovation to accelerate performance growth continue to drive customer value, and we remain confident we can deliver on our full-year commitments.”
