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Willis Towers Watson (NASDAQ: WLTW) has announced a significant increase in its share repurchase authority by $4 billion, enhancing its commitment to returning value to shareholders. This new authorization adds to the remaining $500 million of the current repurchase program, allowing for a potential total of $4.5 billion in shares to be repurchased. The company intends to evaluate its buyback activities based on market conditions and other relevant business factors.
Willis Towers Watson's Commercial Lines Insurance Pricing Survey (CLIPS) reveals that U.S. commercial insurance prices rose by over 6% in Q2 2021 compared to the same period in 2020. The survey noted significant price increases across various lines, with excess/umbrella policies leading. Commercial auto, property, and directors’ and officers’ liability also experienced notable hikes, while workers' compensation saw slight reductions. The rate of increase has moderated compared to previous quarters, particularly in excess/umbrella and directors’ and officers’ liability sectors.
Willis Towers Watson (NASDAQ: WLTW) has unveiled its "Grow, Simplify, Transform" strategy to enhance long-term growth and shareholder value. The company plans to return over $4 billion to shareholders through buybacks by the end of fiscal 2022. Key targets include revenue growth exceeding $10 billion by 2024, improved margins of 24-25%, and a free cash flow of $5-6 billion. The strategy emphasizes market growth, operational simplification, and cost transformation, aiming for adjusted EPS of $18-21 per share. The Investor Day presentation highlighted the commitment to capital return while pursuing growth opportunities.
Global reinsurers showed robust performance in H1 2021, with total capital reaching USD 688 billion, a 4% increase from 2020. The industry experienced a 15% rise in premium growth despite significant natural catastrophes. The reported combined ratio improved to 94.1%, down from 104.1% in H1 2020. Underlying ROE reached 6.3%, although it remains below the industry’s cost of capital. CEO James Kent noted that while premium growth is encouraging, combined ratios are still concerningly near levels seen during softer market phases.
As reported by the Thinking Ahead Institute, the world’s top 300 pension funds saw their assets under management (AUM) increase by 11.5% to $21.7 trillion in 2020. North America leads with 41.7% of total AUM, followed by Asia Pacific and Europe, each at 27.5%. The top 20 funds' AUM grew by 14.6%, marking a significant annual growth rate. The shift towards sustainable investment is evident as funds adapt to ESG expectations and aim for net-zero targets, prompting a more holistic governance approach.
Willis Towers Watson (NASDAQ: WLTW) will host an investor day on September 9, 2021, starting at 9:30 a.m. ET. This event will feature senior management discussing the company's strategy, operations, and financial targets. The presentation will be accessible via live broadcast on the company's Investor Relations website, with a replay available for three months post-event.
Willis Towers Watson is a global advisory, broking, and solutions provider, with a workforce of 46,000 employees operating across 140 countries.
Willis Towers Watson (NASDAQ: WLTW) announces that Liberty Specialty Markets will support the Climate Transition Pathway (CTP) solution. This framework aims to assist businesses transitioning to a low-carbon economy by providing insurance companies and financial institutions with guidelines for identifying firms with robust low-carbon plans aligned with the Paris Agreement.
Liberty is the first major insurer to back the CTP, enabling accredited companies to access necessary insurance capacity and capital for their transitions, thus enhancing their sustainability efforts.
