Broker WTW says it has made a “solid” start to the year after earnings rose in the first quarter. 

Net income surged 23% to $US239 million ($374 million) in the January-March period and the broker’s risk and broking business grew its revenue by 5% to $US1.03 billion ($1.61 billion). 

WTW says risk and broking operating margins increased 120 basis points from the prior-year first quarter to 22.0%, due primarily to operating leverage driven by strong organic revenue growth and savings from the transformation program. 

“We had a solid start to the year, delivering results in line with our expectations and making strong progress on our strategy to accelerate our performance, enhance our efficiency and optimise our portfolio,” CEO Carl Hess said. 

“We are well-positioned to help our clients navigate economic uncertainty and highly focused on driving continued growth and margin expansion, and we are confident in our outlook. I’m proud of our team’s dedication and look forward to achieving our strategic and financial goals together.”