WTW · 8-K · 20261029PR006942

Acquisition / Partnership / Divestiture

WILLIS TOWERS WATSON PLC · 2026-10-29 · Importance 95 · Surprise 100 · Contradicted

WTW reported $1.103 billion of cash used for acquisitions of operations, net of cash acquired, during the first nine months of 2026, compared with $14 million in the prior-year period. The release identifies Newfront as an acquisition and expects approximately $250 million of post-close 2026 revenue and an adjusted EBITDA margin of approximately 26%. Newfront’s Total Rewards business, approximately 42% of its business, will be included in HWC, while its Business Insurance business, approximately 58%, will be included in R&B. The Willis Re joint venture is expected to reduce 2026 adjusted diluted EPS by approximately $0.30.

Key facts

• WTW expects Newfront post-close revenue of approximately $250 million in 2026 and an adjusted EBITDA margin of approximately 26%. source
• WTW expects the Newfront acquisition to dilute 2026 adjusted EPS by approximately $0.10. source
• Newfront’s Total Rewards business segment, approximately 42% of its business, will be included in WTW’s HWC segment; its Business Insurance segment, approximately 58%, will be included in R&B. source
• For the nine months ended September 30, 2026 and 2025, payments of deferred and contingent acquisition consideration were $3 million and $19 million, respectively. source

Impact estimates