Hwc was Willis Towers Watson’s largest segment in fiscal 2025, bringing in $5.33B of $9.71B (55%).
| Segment | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hwc | $5.35B | $5.66B | $5.85B | $5.33B | ||||||||||
| Rb | $3.47B | $3.75B | $4.05B | $4.35B | ||||||||||
| Operating Segments | — | — | — | — | ||||||||||
| Revenue | — | — | — | — | ||||||||||
| Hcb | — | — | — | — | ||||||||||
| Crb | — | — | — | — | ||||||||||
| Total Retail | — | — | — | — | ||||||||||
| Corporate Risk & Broking | — | — | — | — | ||||||||||
| Irr | — | — | — | — | ||||||||||
| Investment, Risk & Reinsurance | — | — | — | — | ||||||||||
| Capital, Wholesale &Amp; Reinsurance | — | — | — | — | ||||||||||
| Bda | — | — | — | — | ||||||||||
| International | — | — | — | — | ||||||||||
| Willis Gb Formerly Global | — | — | — | — | ||||||||||
| North America | — | — | — | — | ||||||||||
| Human Capital & Benefits | — | — | — | — | ||||||||||
| Global | — | — | — | — | ||||||||||
| Divested Businesses | — | — | — | — | ||||||||||
| Corporate | $44.00M | $80.00M | $33.00M | $34.00M | ||||||||||
| Total | $8.87B | $9.48B | $9.93B | $9.71B |
Willis Towers Watson brought in $9.71B from its three segments in fiscal 2025, the year ended December 31, 2025. That was down 2.2% from $9.93B in fiscal 2024. Hwc was the largest at $5.33B (54.9%), ahead of Rb at $4.35B (44.8%) and Corporate at $34.00M (0.4%).
Compared with fiscal 2024, Rb grew 7.3% to $4.35B, while Hwc fell 8.9% to $5.33B. From fiscal 2022 to 2025, combined revenue from these segments grew from $8.87B to $9.71B, a compound annual growth rate of 3.1%. Hwc's share of the total fell from 60.4% to 54.9%.
Europe was Willis Towers Watson’s largest region in fiscal 2025, bringing in $3.65B of $4.82B (76%).
| Geography | FY 2009 | FY 2010 | FY 2011 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | — | — | — | — | |||||||||||
| Us | — | — | — | — | |||||||||||
| Europe | $2.80B | $3.04B | $1.82B | $3.65B | |||||||||||
| Revenue | — | — | — | — | |||||||||||
| Rest Of World | — | — | — | — | |||||||||||
| United Kingdom | — | — | — | — | |||||||||||
| North America | $1.33B | $1.40B | $3.78B | $1.00M | |||||||||||
| All Non-Us & Non-Uk Countries | — | — | — | — | |||||||||||
| Global | — | — | — | — | |||||||||||
| International | $943.00M | $1.01B | $1.09B | $1.18B | |||||||||||
| Ireland | — | — | — | — | |||||||||||
| Total | $5.07B | $5.46B | $6.69B | $4.82B |
Willis Towers Watson brought in $4.82B from its three regions in fiscal 2025, the year ended December 31, 2025. That is less than the $9.71B it reports by segment, so these regions do not cover all of its revenue. Europe was the largest at $3.65B (75.6%), ahead of International at $1.18B (24.4%) and North America at $1.00M (0.0%).
Compared with fiscal 2024, Europe grew 100.7% to $3.65B and International grew 8.2% to $1.18B.
Other was Willis Towers Watson’s largest revenue line in fiscal 2017, bringing in $8.18B of $8.20B (100%).
| Consolidated Entities | FY 2015 | FY 2016 | FY 2017 |
|---|---|---|---|
| Other | $3.82B | $7.87B | $8.18B |
| Non-Guarantors | — | $7.87B | — |
| The Issuer | $11.00M | $19.00M | $19.00M |
| The Other Guarantors | $1.00M | $2.00M | — |
| Other Guarantors | — | $2.00M | — |
| Total | $3.83B | $15.76B | $8.20B |
Willis Towers Watson brought in $8.20B from its two revenue lines in fiscal 2017, the year ended December 31, 2017. Willis Towers Watson regrouped these revenue lines after fiscal 2016, so the total does not compare directly with that year's $15.76B. Other was the largest at $8.18B (99.8%), ahead of The Issuer at $19.00M (0.2%).
Willis Towers Watson stopped reporting Non-Guarantors ($7.87B in fiscal 2016), The Other Guarantors ($2.00M in fiscal 2016) and Other Guarantors ($2.00M in fiscal 2016) as separate revenue lines.
Willis Towers Watson (WTW) reports its revenue by segment, by geography and by consolidated entities. In fiscal 2025, Hwc was its largest segment, bringing in $5.33B (54.9% of the total), followed by Rb at $4.35B (44.8%).
Hwc was Willis Towers Watson's largest segment in fiscal 2025, bringing in $5.33B, or 54.9% of the $9.71B total across its three segments.
Europe was Willis Towers Watson's largest region in fiscal 2025, bringing in $3.65B, or 75.6% of the $4.82B total across its three regions.
Other was Willis Towers Watson's largest revenue line in fiscal 2017, bringing in $8.18B, or 99.8% of the $8.20B total across its two revenue lines.
Rb grew faster than Hwc in fiscal 2025, up 7.3% from $4.05B to $4.35B. Hwc fell 8.9% to $5.33B.
Every figure comes from Willis Towers Watson's annual financial filings, as reported. Each line keeps the name Willis Towers Watson gives it, and years follow its fiscal calendar.
Willis Towers Watson's revenue by segment goes back to fiscal 2011, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.