Hwc was Willis Towers Watson’s largest segment in fiscal 2025, bringing in $5.33B of $9.71B (55%).
| Segment | FY 2010 | FY 2011 | FY 2016 | FY 2017 | FY 2018 | 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 | — | — | — | — | ||||||||
| Human Capital & Benefits | — | — | — | — | ||||||||
| Hcb | — | — | — | — | ||||||||
| Corporate Risk & Broking | — | — | — | — | ||||||||
| Crb | — | — | — | — | ||||||||
| Investment Risk & Reinsurance | — | — | — | — | ||||||||
| Irr | — | — | — | — | ||||||||
| North America | — | — | — | — | ||||||||
| Global | — | — | — | — | ||||||||
| International | — | — | — | — | ||||||||
| Benefits Delivery & Administration | — | — | — | — | ||||||||
| Bda | — | — | — | — | ||||||||
| Divested Businesses | — | — | — | — | ||||||||
| Segment Reconciling Items | — | — | — | — | ||||||||
| Corporate, Non-Segment | — | — | — | — | ||||||||
| 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%.
United States was Willis Towers Watson’s largest region in fiscal 2025, bringing in $4.50B of $9.71B (46%).
| Geography | FY 2010 | FY 2011 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $4.76B | $5.01B | $5.13B | $4.50B | ||||||||
| Us | — | — | — | — | ||||||||
| Rest Of World | $2.41B | $2.63B | $2.81B | $3.00B | ||||||||
| Revenue | — | — | — | — | ||||||||
| United Kingdom | $1.56B | $1.72B | $1.86B | $2.07B | ||||||||
| North America | — | — | — | — | ||||||||
| Global | — | — | — | — | ||||||||
| All Non-Us & Non-Uk Countries | — | — | — | — | ||||||||
| International | — | — | — | — | ||||||||
| Ireland | $130.00M | $118.00M | $131.00M | $143.00M | ||||||||
| Total | $8.87B | $9.48B | $9.93B | $9.71B |
Willis Towers Watson brought in $9.71B from its four regions in fiscal 2025, the year ended December 31, 2025. That was down 2.2% from $9.93B in fiscal 2024. United States was the largest at $4.50B (46.4%), ahead of Rest Of World at $3.00B (30.9%) and United Kingdom at $2.07B (21.3%). The remaining region, Ireland, brought in $143.00M.
Compared with fiscal 2024, United Kingdom grew fastest, up 11.1% to $2.07B, while United States fell the most, down 12.2% to $4.50B. From fiscal 2022 to 2025, combined revenue from these regions grew from $8.87B to $9.71B, a compound annual growth rate of 3.1%. United States' share of the total fell from 53.7% to 46.4%.
Non-Guarantors was Willis Towers Watson’s largest revenue line in fiscal 2016, bringing in $7.87B of $7.87B (100%).
| Consolidated Entities | FY 2015 | FY 2016 |
|---|---|---|
| Non-Guarantors | — | $7.87B |
| The Issuer | $11.00M | — |
| Other Guarantors | — | $2.00M |
| The Other Guarantors | $1.00M | — |
| Total | $12.00M | $7.87B |
Willis Towers Watson brought in $7.87B from its two revenue lines in fiscal 2016, the year ended December 31, 2016. Willis Towers Watson regrouped these revenue lines after fiscal 2015, so the total does not compare directly with that year's $12.00M. Non-Guarantors was the largest at $7.87B (100.0%), ahead of Other Guarantors at $2.00M (0.0%).
Willis Towers Watson began breaking out Non-Guarantors in fiscal 2016 and Other Guarantors in fiscal 2016. Willis Towers Watson stopped reporting The Issuer ($11.00M in fiscal 2015) and The Other Guarantors ($1.00M in fiscal 2015) 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.
United States was Willis Towers Watson's largest region in fiscal 2025, bringing in $4.50B, or 46.4% of the $9.71B total across its four regions.
Non-Guarantors was Willis Towers Watson's largest revenue line in fiscal 2016, bringing in $7.87B, or 100.0% of the $7.87B 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 2010, 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.