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Broking a strong point as WTW income dips

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Willis Towers Watson’s net income dropped sharply in the fourth quarter of last year, to $US174 million ($245.34 million) from $US253 million ($356.72 million) in the corresponding period of 2017.

However, its corporate and risk broking division recorded 2% revenue growth to $US812 million ($1.14 billion). And for the full year its revenue grew to $US2.86 billion ($4.03 billion) from $US2.71 billion ($3.82 billion).

Investment, risk and reinsurance revenue grew to $US297 million ($418.76 million) for the quarter from $US288 million ($406.87 million). For the year it grew to $US1.55 billion ($2.19 billion) from $US1.47 billion ($2.07 billion).

The figures exclude a new revenue standard, introduced in January last year.