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WTW's broking arm recovers to 5% organic growth after Q1 stumble. Risk and broking's rebound closes the loop on a first quarter that wiped 12% off WTW's share price Oct 29, 2026 WTW's risk and broking segment posted 5% organic revenue growth in the third quarter of 2026, a meaningful shift from the 2% organic growth its risk and broking segment delivered in the first quarter, when the group-wide organic figure of 3% placed WTW at the bottom of the listed broking cohort. That result drew a cool reception from investors and prompted management to acknowledge missed new business targets. The third-quarter rebound confirms that the broking momentum weakness earlier in the year was not structural, even if it took two quarters to demonstrate. Total revenue for the quarter reached $2.46 billion, up 8% from $2.29 billion a year earlier. On an organic basis, stripping out the impact of the Newfront acquisition that closed in January 2026 and currency movements, growth was 4%. The 400-basis-point gap between reported and organic growth is almost entirely Newfront. WTW expects the acquired broker to contribute approximately $250 million in 2026 post-close revenue, so its presence in the reported line is substantial. The organic figure is the one that measures how much the underlying business grew on its own. What the adjusted numbers are hiding. Adjusted operating income rose 15% to $539 million, adjusted operating margin widened 150 basis points to 21.9%, and adjusted diluted EPS climbed 18% to $3.63. GAAP operating income, meanwhile, grew only 3% to $429 million, and GAAP operating margin fell 90 basis points to 17.4%. The 450-basis-point gap between the adjusted and GAAP margin sits in three line items. Amortization accounted for $59 million, driven partly by Newfront intangibles. Transaction and program expenses added $42 million, primarily from Newfront integration and Propel costs. Restructuring charges under Propel contributed a further $14 million. Propel is WTW's AI acceleration plan, approved by the board in July 2026 and running through December 2028. WTW has committed $625 million to fund it, targeting approximately $400 million in run-rate savings equivalent to approximately $350 million in net run-rate savings after reinvesting around $50 million to support growth, and a 30% adjusted operating margin by 2028. According to WTW's third-quarter update on Propel, the plan had incurred $21 million in total costs and delivered $18 million in annualized run-rate savings through September 30. The heavy spending comes later, which means the GAAP margin pressure from Propel will build through 2027 before the savings materialize. R&B's 5% organic growth is cleaner than it first appears. The risk and broking segment, which houses corporate risk and broking alongside WTW's insurance consulting and technology business, reported revenue of $1.09 billion, up 8%, with operating margin expanding 100 basis points to 19.8%. The organic growth of 5% was driven by strong new business activity in North America and internationally, along with higher book-of-business settlement activity. The prior-year comparable had included revenue from multi-year project-based placements in global specialty that did not repeat, making the 5% figure slightly cleaner than it first appears. It was achieved against that headwind. The health, wealth and career segment, covering benefits consulting, retirement, and compensation advisory across more than 140 countries, contributed revenue of $1.35 billion, up 7%, with operating margin rising 90 basis points to 29.5%. Retirement work outside North America and compensation survey sales drove the HWC growth, while benefits delivery and outsourcing weighed slightly on the segment amid lower commissions in individual marketplace. HWC is the segment most directly relevant to risk managers and HR decision-makers in the companies brokers place. Its trajectory signals whether employer spending on benefits advisory is holding up globally. The cash position is the less-noticed strength. Free cash flow for the nine months ended September 30 reached $1.1 billion, up $226 million from $874 million in the same period of 2025. The improvement was driven by operating margin expansion, and it explains the capital returns running alongside the transformation: WTW repurchased $220 million of shares in Q3 alone and maintains a full-year buyback commitment of $1 billion or more. A company under genuine financial pressure from integration and AI investment costs does not typically generate that kind of cash conversion. CEO Carl Hess said in the release that Propel is "in its early days" but that the initial impact on client service, growth, and internal efficiency is already visible. $18 million in run-rate savings against a $625 million investment plan is a rounding error at this stage. The next meaningful data point will be the 2026 full-year results, which will show whether the R&B organic growth recovery held in Q4 and whether Propel costs are tracking to plan. One structural headwind remains embedded in the full-year guidance: the Willis Re joint venture, which WTW entered via a partnership with Bain Capital after selling its original Willis Re reinsurance business to Gallagher in 2021, is expected to be a $0.30 drag on adjusted diluted EPS for 2026. WTW is investing in the JV as it scales, and CFO Andrew Krasner said earlier this year the firm is comfortable with that cost. At roughly 8% of a single quarter's adjusted diluted EPS, it is not a small number.

WTW ordered to pay Rs3.67 cr to former employee in whistleblower retaliation case. The award includes ₹3,67,97,082 in special damages and ₹10 lakh for the mental agony, anguish and harassment suffered by Midha. The company has been directed to make the payment within 30 days of the judgment. In a separate development, Judge Shirin Javeed Ansari directed the court registrar to file a complaint before a magistrate against two senior WTW executives, Vijaykumar Suri and Cedric Luah, over alleged false testimony during the proceedings. Bengaluru: A Bengaluru civil court has ordered Willis Towers Watson (WTW) India Insurance Brokers, a wholly owned subsidiary and the direct Indian insurance broking arm of the global advisory, broking, and solutions company WTW (formerly Willis Towers), to pay more than ₹3.77 crore in damages to former employee Naveen Kumar Midha after ruling that his termination was wrongful and unlawful. The court found that the company's contractual right to dismiss an employee could not override its obligations under its whistleblower protection policy. The award includes ₹3,67,97,082 in special damages and ₹10 lakh for the mental agony, anguish and harassment suffered by Midha. The company has been directed to make the payment within 30 days of the judgment, according to a report by LiveLaw. The court also ordered WTW to issue Midha a fresh relieving letter without adverse remarks and remove stigmatic comments from records relating to his suspension. Midha challenged the dismissal, arguing that the company's whistleblower policy prohibited retaliation against employees who reported suspected wrongdoing. He maintained that he had raised his concerns with senior management but was dismissed without being adequately informed of the allegations against him or given an opportunity to respond. In its ruling, the court rejected the argument that WTW could rely on its contractual termination clause to justify the dismissal. It held that the power to terminate employment by giving notice had to be exercised consistently with the company's other binding contractual obligations, including its non-retaliation policy. The court relied on admissions by WTW's managing director that the company's policies had been adopted by its board, that the Code of Conduct was binding and that whistleblowers were protected against retaliation. The policy is not to be treated as a decorative or inconsequential document," the court observed, according to LiveLaw. It added that the existence of a termination clause did not provide a complete defence where the power was allegedly exercised for a purpose prohibited by another binding term. The special damages of ₹3.67 crore were calculated by comparing Midha's projected earnings had he continued working at WTW with his subsequent income, including a retention bonus. The court also awarded ₹2 lakh against each defendant found liable for distinct harm to his professional life. In a separate development, Judge Shirin Javeed Ansari directed the court registrar to file a complaint before a magistrate against two senior WTW executives, Vijaykumar Suri and Cedric Luah, over alleged false testimony during the proceedings. The court stressed that deliberate falsehoods under oath could not be treated lightly, particularly in cases involving whistleblowers and alleged retaliation. "If such conduct goes unremarked, witnesses in whistleblower and retaliation cases will conclude that a false denial costs nothing and that the oath is a formality," the court observed, adding that prosecution was necessary to protect the integrity of judicial proceedings. The ruling highlights the legal risks employers may face when their employment decisions are challenged as inconsistent with internal whistleblower safeguards. It also reinforces the principle that corporate policies adopted as binding obligations cannot simply be disregarded when an employer exercises its contractual powers.

Meeder appoints product development leader. Oct 20, 2026 Industry veteran Mustafa Baig to bolster firm's investment solutions and distribution capabilities DUBLIN, OH, October 20, 2026 /24-7PressRelease/ - Meeder Investment Management announced the appointment of Mustafa Baig, CFA, as Senior Vice President of Product Development, further strengthening the firm's investment product capabilities as Meeder continues to expand its solutions and distribution platform. In this newly established role, Baig will lead product strategy and lifecycle management across Meeder's investment offerings, including mutual funds, separately managed accounts, model portfolios and future product structures. He will work across investments, distribution, marketing, legal and operations to identify market opportunities, advance new and existing solutions, strengthen competitive positioning and help translate the firm's investment capabilities into solutions designed to meet the evolving needs of financial advisors and their clients. "Mustafa's appointment represents an important investment in product strategy and growth at Meeder," said Robert F. Behan, CFA, President and Head of Distribution. "As we continue to expand our capabilities and deepen our relationships with advisors and strategic partners, having dedicated leadership connecting market needs, investment expertise and distribution is increasingly important. Mustafa brings the experience and perspective to help us build that discipline across the organization." Baig brings more than two decades of investment industry knowledge spanning product strategy, development, structuring, implementation and distribution. His experience includes traditional and alternative investments and a range of investment structures, including registered investment companies, collective investment trusts and private investment vehicles. He has worked across institutional and wealth management markets. Prior to joining Meeder, Baig most recently served as Senior Director and North America Product Lead at WTW, where he helped develop the firm's North American OCIO product capabilities and supported product lifecycle management across institutional and wealth channels. Previously, he held product leadership and specialist roles at 50 South Capital Advisors and Calamos Investments that included extensive work with alternative investments, private markets, hedge funds, real estate and closed-end funds. "Meeder has a strong foundation of investment expertise and a tremendous opportunity to bring those capabilities to market in increasingly thoughtful and differentiated ways," said Baig. "I am excited to work across the organization to build a disciplined product framework that connects client and advisor needs with investment solutions and supports the firm's long-term growth." Baig's appointment also establishes centralized leadership for product management at Meeder. His responsibilities include evaluating market and competitive trends, assessing new product opportunities, developing go-to-market strategies, supporting sales enablement and coordinating product initiatives from concept through implementation and ongoing management. About Meeder Investment Management Meeder Investment Management has been helping clients achieve their financial goals for more than 50 years. Serving public entities, institutions, financial advisors, and individual investors, Meeder offers a wide range of investment solutions, including mutual funds, model portfolios, cash management, and personalized advisory services. With more than 150 associates and over $190 billion in assets under advisement, Meeder is committed to improving investor outcomes through disciplined investing, education, and long-term partnership. *Assets under advisement consist of $70.32 billion of regulatory assets under management for which Meeder Investment Management's registered investment adviser affiliates provide continuous and regular investment management services as disclosed in their Form ADVs and $120.41 billion of non-discretionary assets as to which Meeder Public Funds provides strategic advice or consultation but does not have the authority to effectuate transactions as of December 31, 2025. Read the original story here: https://www.24-7pressrelease.com/press-release/539734/meeder-appoints-product-development-leader Press Release Service and Press Release Distribution by 24-7 Press Release Newswire Looking for Local Media Coverage in the United States of America? We have a place for all 50 States at the State News Network