Willis Towers Watson Management
Management criteria checks 4/4
Willis Towers Watson's CEO is Carl Hess, appointed in Jan 2022, has a tenure of 4.42 years. total yearly compensation is $12.79M, comprised of 7.8% salary and 92.2% bonuses, including company stock and options. directly owns 0.11% of the company’s shares, worth $26.14M. The average tenure of the management team and the board of directors is 4.8 years and 4.2 years respectively.
Key information
Carl Hess
Chief executive officer
US$12.8m
Total compensation
| CEO salary percentage | 7.82% |
| CEO tenure | 4.4yrs |
| CEO ownership | 0.1% |
| Management average tenure | 4.8yrs |
| Board average tenure | 4.2yrs |
Recent management updates
Recent updates
Seeking Alpha • 10h
Willis Towers Watson: Unfairly Punished After A Cyclical Hiccup
Summary Willis Towers Watson remains a 'buy' despite a 20% share price decline and persistent AI disintermediation fears. WTW's bespoke insurance broking and consulting model is less vulnerable to rapid AI disruption than commoditized segments; AI also enhances internal productivity. Q1 results showed muted 3% organic growth, but 19% EPS growth and expanding margins, supported by buybacks and cost efficiency. With a strong balance sheet, 7% free cash flow yield, and fair value estimated at $300–320, I expect ~12% long-term returns. Read the full article on Seeking Alpha
Narrative Update • May 01
WTW: AI Productivity And Margin Durability Will Support Upside Beyond Sector Reset
Willis Towers Watson's analyst price targets have shifted lower, reflected in an updated fair value estimate moving from about $370.63 to $354.74, as analysts factor in a series of recent target cuts, balanced against mixed views on AI risks and the resilience of the broker business model. Analyst Commentary Recent research on Willis Towers Watson reflects a mix of optimism about the company’s execution and resilience, alongside caution around sector headwinds and valuation reset.Narrative Update • Mar 27
WTW: AI Productivity And Margin Durability Will Drive Upside In Softer P&C Cycle
Analysts have inched up their blended price target for Willis Towers Watson to $370.63, with recent research pointing to AI as a productivity tool that could support margins and to what they see as resilient broker business fundamentals despite earlier sector weakness. Analyst Commentary Recent research on Willis Towers Watson highlights a split view, with some firms pointing to resilience in the broker model and AI as a support for margins, while others focus on softer pricing trends and sector wide pressures on growth and valuation.Narrative Update • Mar 11
WTW: Differentiated Underwriting And Margin Durability Will Drive Upside In Softer P&C Cycle
The updated analyst price target for Willis Towers Watson edges down by about $2.60 to roughly $369, as analysts recalibrate assumptions around sector wide P&C softness, AI related headwinds, and the importance of underwriting differentiation and margin resilience. Analyst Commentary Recent Street research on Willis Towers Watson points to a mixed setup, with target prices adjusted both higher and lower as investors weigh softer P&C pricing, AI related pressures, and the importance of underwriting and margin quality.Narrative Update • Feb 24
WTW: Softer P&C Cycle Will Test Broker Margins Yet Support Upside
Analysts have made a modest downward adjustment to their Willis Towers Watson price target, with updated assumptions reflecting slightly higher revenue growth and profit margin expectations, alongside a lower future P/E multiple of about 20.8x, consistent with mixed recent Street revisions that include both target raises and cuts. Analyst Commentary Recent Street research on Willis Towers Watson reflects a mix of optimism and caution, with several firms adjusting price targets in both directions.Narrative Update • Feb 09
WTW: Softer P&C Cycle Will Test Broker Resilience And Execution
Analysts lifted their price targets on Willis Towers Watson by a few dollars to the mid US$370s, citing refreshed models that reflect a slightly higher fair value estimate, modestly stronger assumed revenue growth, and a somewhat lower future P/E multiple despite a small increase in the discount rate. Analyst Commentary Recent research points to a mixed but generally constructive tone around Willis Towers Watson, with several firms moving price targets into the low to high US$300s and one firm taking a more cautious stance with a lower target.Narrative Update • Jan 26
WTW: Softer P&C Cycle Will Test Broker Margins And Execution
Analysts have made only a marginal adjustment to their price targets on Willis Towers Watson, with a small pullback led by a US$20 cut at Cantor Fitzgerald, partly offset by a series of modest increases from other firms that reflect updated views on insurance pricing, broker organic growth and margin expectations. Analyst Commentary Recent research on Willis Towers Watson points to a mixed, but generally constructive, tone around the shares, with several firms lifting valuation targets while a smaller group trims expectations based on sector and company specific factors.Narrative Update • Jan 12
WTW: Softer P&C Cycle Will Shape Future Earnings Power
Narrative Update: Willis Towers Watson Analyst Price Target Shift Analysts have modestly adjusted their view on Willis Towers Watson, with the intrinsic value estimate easing by about US$2 to roughly US$369 per share. Slightly higher discount rates and margin pressure offset expectations for somewhat stronger revenue growth and a higher future P/E multiple.Narrative Update • Nov 01
WTW: Free Cash Flow Will Support Margin Expansion Through 2027
Analysts have slightly lowered their fair value price target for Willis Towers Watson to $371.61 from $374.44. This change reflects mixed results in recent quarterly performance and evolving sector fundamentals.Narrative Update • Oct 18
AI And Cybersecurity Will Expand Advanced Risk Consulting
Analysts have modestly raised their fair value estimate for Willis Towers Watson, increasing the price target by approximately $6 to $374. They cite ongoing margin improvement, steady revenue growth, and sector resilience amid macro uncertainties.Narrative Update • Oct 03
AI And Cybersecurity Will Expand Advanced Risk Consulting
Willis Towers Watson's fair value estimate has increased modestly from $364.50 to $368.78. Analysts point to sustained margin expansion and solid sector fundamentals supporting a higher price target for the firm.Seeking Alpha • Apr 24
Willis Towers Watson: Solid Q1, But A Full Valuation
Summary Willis Towers Watson Public Limited Company shares rose 24% over the past year, driven by its stable business model and minimal economic cyclicality. Q1 results showed solid performance with 5% organic revenue growth and improved operating margins, despite a 5% revenue decline due to the TRANZACT sale. WTW maintains a strong balance sheet, targets $1.5 billion in buybacks, and offers a 5-6% capital return yield, primarily through buybacks. Despite solid fundamentals, WTW's valuation appears full, leading to a hold rating as shares are near fair value with limited upside potential. Read the full article on Seeking AlphaSeeking Alpha • Jan 14
Willis Towers Watson: The Bull Case Remains Intact
Summary Willis Towers Watson shares have returned 15% since my initial Buy recommendation was published on February 12, 2024. WTW stock's rise has been driven by solid earnings performance and moderate multiple expansion. The company recently completed a divestiture of its direct-to-consumer business, which is expected to help improve margins going forward. WTW continues to trade at a valuation discount to the broader market and peers. I reiterate my Buy rating on WTW. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$2b |
| Dec 31 2025 | US$13m | US$1m | US$2b |
| Sep 30 2025 | n/a | n/a | US$2b |
| Jun 30 2025 | n/a | n/a | US$137m |
| Mar 31 2025 | n/a | n/a | -US$53m |
| Dec 31 2024 | US$13m | US$1m | -US$98m |
| Sep 30 2024 | n/a | n/a | -US$722m |
| Jun 30 2024 | n/a | n/a | US$1b |
| Mar 31 2024 | n/a | n/a | US$1b |
| Dec 31 2023 | US$13m | US$1m | US$1b |
| Sep 30 2023 | n/a | n/a | US$1b |
| Jun 30 2023 | n/a | n/a | US$1b |
| Mar 31 2023 | n/a | n/a | US$1b |
| Dec 31 2022 | US$11m | US$1m | US$1b |
| Sep 30 2022 | n/a | n/a | US$1b |
| Jun 30 2022 | n/a | n/a | US$2b |
| Mar 31 2022 | n/a | n/a | US$2b |
| Dec 31 2021 | US$5m | US$767k | US$2b |
| Sep 30 2021 | n/a | n/a | US$2b |
| Jun 30 2021 | n/a | n/a | US$1b |
| Mar 31 2021 | n/a | n/a | US$976m |
| Dec 31 2020 | US$4m | US$650k | US$738m |
| Sep 30 2020 | n/a | n/a | US$811m |
| Jun 30 2020 | n/a | n/a | US$768m |
| Mar 31 2020 | n/a | n/a | US$1b |
| Dec 31 2019 | US$4m | US$644k | US$820m |
Compensation vs Market: Carl's total compensation ($USD12.79M) is about average for companies of similar size in the US market ($USD14.74M).
Compensation vs Earnings: Carl's compensation has been consistent with company performance over the past year.
CEO
Carl Hess (64 yo)
4.4yrs
Tenure
US$12,793,605
Compensation
Mr. Carl Aaron Hess, F.S.A. & CERA is a Member of Board of Trustees at American Institute for Chartered Property Casualty Underwriters from June 15, 2022. He has been Chief Executive Officer and Director o...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 4.4yrs | US$12.79m | 0.11% $ 26.1m | |
| CFO & Co-head of Corporate Development | 4.8yrs | US$5.51m | 0.025% $ 6.2m | |
| General Counsel | 10.4yrs | US$2.83m | 0.036% $ 8.6m | |
| President of Health | 10.4yrs | US$4.47m | 0.080% $ 19.4m | |
| President of Risk & Broking | 1.9yrs | US$3.81m | 0.011% $ 2.7m | |
| Chief Operating Officer | 4.8yrs | no data | 0.012% $ 2.9m | |
| Principal Accounting Officer & Controller | 5.1yrs | no data | 0.0016% $ 388.4k | |
| Global Head of Technology | 1.9yrs | no data | no data | |
| Head of Investor Relations | no data | no data | no data | |
| Chief Human Resources Officer and Head of Marketing & Communication | 4.8yrs | no data | 0.012% $ 2.9m | |
| Head of Corporate Risk & Broking and Italy Country Manager | 17.3yrs | no data | no data | |
| MD & Head of Insurance-Linked Securities - WCMA | 16.2yrs | no data | no data |
4.8yrs
Average Tenure
57.5yo
Average Age
Experienced Management: WTW's management team is considered experienced (4.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 4.4yrs | US$12.79m | 0.11% $ 26.1m | |
| Independent Non-Executive Chair | 3.7yrs | US$507.91k | 0.0020% $ 483.1k | |
| Independent Director | 3.2yrs | US$345.00k | 0.0014% $ 347.2k | |
| Independent Director | 4.4yrs | US$375.00k | 0.0023% $ 555.9k | |
| Independent Director | 3.2yrs | US$345.00k | 0.0014% $ 347.2k | |
| Independent Director | 4.4yrs | US$370.00k | 0.0020% $ 495.2k | |
| Chairman of Willis Re International & Specialty | no data | no data | no data | |
| Global Chairman of Willis Re & Chairman of Willis Re North America | 11.4yrs | no data | no data | |
| Independent Director | 3.2yrs | US$345.00k | 0.0014% $ 347.2k | |
| Independent Director | 4.2yrs | US$365.00k | 0.0031% $ 745.3k | |
| Independent Director | 4.4yrs | US$370.00k | 0.0020% $ 495.2k | |
| Director | less than a year | no data | no data |
4.2yrs
Average Tenure
63.5yo
Average Age
Experienced Board: WTW's board of directors are considered experienced (4.2 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/02 11:39 |
| End of Day Share Price | 2026/06/02 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Willis Towers Watson Public Limited Company is covered by 30 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Mark Marcon | Baird |
| Taylor Scott | Barclays |
| Michael Zaremski | BMO Capital Markets Equity Research |