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WTW lifts earnings guidance after strong quarter and acquisition

Global broker Willis Towers Watson more than doubled its second-quarter net income to $US138 million ($200.62 million) from $US58 million ($84.32 million) a year earlier as each of its four core business segments demonstrated healthy growth in revenue and operating income margin.

Revenue grew 3% to $US2.05 billion ($2.98 billion).

Willis Towers Watson raised its 2019 earnings guidance, forecasting earnings per share of $US10.75 to $US11.10 for the full year 2019, up from $US10.60 to $US10.85 previously.

The upgrade reflects the acquisition of Tranzact – a direct-to-consumer healthcare organisation, earlier this year.

Corporate risk and broking revenue in the second quarter increased 2% to $US690 million ($1 billion) and investment, risk and reinsurance grew 6% to $US409 million ($594.59 million).