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Willis Towers Watson’s Divestment Performance Monitor reports a significant decline in divestment deals during H1 2020, with 63% underperforming against the Global Index by an average of 11.3 percentage points. This marks the worst performance since the database's inception in 2010. Despite the COVID-19 pandemic, the number of deals decreased from 315 to 292, with a notable lack of private equity activity. North America had the steepest decline at 23.5 percentage points, while European divestitures outperformed their benchmarks. Companies must adapt to survive the financial impact of the crisis by prioritizing divestments of non-core assets.
In 2019, the world's 300 largest pension funds saw a 8.0% increase in assets under management (AuM), totaling $19.5 trillion, recovering from a 0.4% decline in 2018. The top 20 funds represented 40.7% of this total, with a 5.5% compound annual growth rate over five years. Defined contribution assets grew by 9.2%, while defined benefit assets rose by 7.1%. Sovereign and public sector funds accounted for 68.3% of AuM. However, challenges like solvency concerns and ESG pressures remain significant amid ongoing economic uncertainties.
Willis Towers Watson (NASDAQ: WLTW) reported significant increases in U.S. commercial insurance prices for Q2 2020, with an overall rise of nearly 10% compared to Q2 2019. Notably, excess/umbrella and directors’ and officers’ liability prices surged over 20%. Commercial auto prices also saw double-digit increases for the 11th consecutive quarter, while property prices accelerated into double digits. The data reflects historical pricing shifts, highlighting the caution in the insurance industry amid social inflation and COVID-19 uncertainties.
According to a recent analysis by Willis Towers Watson (NASDAQ: WLTW), total compensation for CEOs in the S&P 1500 decreased significantly in 2019, with a median increase of only 5.5%, down from 13.7% in 2018. Small- and mid-cap companies faced the steepest declines, while S&P 500 CEOs averaged a 13.1% rise. Annual bonuses fell 3.2%, indicating weaker corporate performance. Additionally, almost 19% of companies have lowered CEO salaries in 2020 due to COVID-19 impacts. The analysis was based on 1,006 companies, providing a comprehensive outlook on executive pay trends.
Aon and Willis Towers Watson shareholders have voted in favor of all proposals related to their planned merger. The approvals from both companies' extraordinary general meetings are crucial for the combination, which is expected to finalize in the first half of 2021, pending customary regulatory approvals. Upon completion, shareholders of Willis Towers Watson will receive 1.08 shares of Aon for each share they own. This merger is anticipated to enhance innovation and provide more comprehensive solutions for clients, particularly in light of challenges posed by the COVID-19 pandemic.
Willis Towers Watson (NASDAQ: WLTW) has launched the CARES Act Optimization Program to assist companies in maximizing available stimulus funds from the CARES Act before the benefits expire. This program allows firms to monetize net operating losses from 2018 to 2020, leveraging long tail liabilities such as workers' compensation and pension liabilities. With bankruptcies rising 26% in 2020, managing liquidity is crucial. The program aims to enhance cash flow and reduce balance sheet volatility, providing an innovative financial solution amidst the ongoing challenges of the COVID-19 economy.
Willis Towers Watson (NASDAQ: WLTW) has declared a quarterly cash dividend of $0.68 per ordinary share for the quarter ending June 30, 2020. This dividend is payable on or around October 15, 2020 to shareholders of record as of September 30, 2020.
This decision reflects the company's commitment to returning value to its shareholders while continuing to support its global operations.
Willis Towers Watson and the World Economic Forum have released a white paper titled “Human Capital as an Asset,” focusing on valuing talent as an asset in the post-COVID-19 landscape. This model aims to reshape organizational decision-making regarding workforces. The paper highlights that intangible assets, including human capital, constitute about 52% of market value for companies. It outlines seven principles encouraging companies to prioritize talent investment, showcasing examples of firms that successfully implemented these changes.
