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But we're moving forward with a lot of confidence there, Mark. Yes. Q2. Reinsurance revenue grew 4% through a combination of net new business and favorable renewal factors. Read Willis Towers Watson's (WLTW) CEO John Haley on Q2 2021 Results - Earnings Call Transcript and don't miss much more articles, reports and business analysis below. Maybe you could talk about which of these is more important, if there is one, and where you want us to be focused on our margin thoughts looking forward. Your next question is from Mark Hughes of Truist. 326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257 I think when you most recently gave guidance, it was on the adjusted operating margin. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. We plan to pay off $450 million of debt outstanding in August 2021. We believe our disciplined approach to return on capital, combined with our continued improved cash flow delivery and increased debt capacity, provides flexibility to improve shareholder value creation over the long term. No. We’re motley! Good luck in the future. The Cloning of Joanna May is a spellbinding novel about the elusive nature of identity, the consequences of playing God, and the ongoing struggle for power between women and men. In Q2, we experienced clear improvement in areas where revenue is tied to discretionary project spending as the economy continued to recover. So now we'll look at each of the segments in more detail. Thank you. Willis Towers Watson Public Limited (NASDAQ:WLTW) released its earnings results on Tuesday, August, 3rd. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. Was that total revenue or organic? Transcript powered by AlphaStreet. So we'll look at those in terms of what the run rate of the company is. CRB revenue was $788 million for the quarter with an operating margin of 22.9% compared to $701 million of revenue with an operating margin of 19.2% in the prior year second quarter. The Benefit Outsourcing business also contributed to the increase of revenue, which was largely driven by its expanded client base. 07:15AM : Willis Towers Watson (WLTW) Q2 Earnings and Revenues Surpass Estimates. Now let's look at Corporate Risk & Broking, or CRB, which had a revenue increase of 8% on an organic and constant currency basis as compared to the prior year second quarter. Actual results may differ materially from those discussed today, and the company undertakes no obligation to update these statements unless required by law. CRB's second quarter performance is encouraging as we look toward the future. And then the other related area, your retention bonuses. We believe we're well positioned to provide leading advice and innovative solutions to our clients in the transition to a low-carbon future. And I don't know if there are specific areas you can talk about, more -- an acceleration of investments into specific areas or specific verticals? We now move forward with confidence and from a position of strength. CRB's second quarter performance is encouraging as we look toward the future. And the broad leadership group within Willis Towers Watson has been nothing short of outstanding. Yes. Here is the perfect notebook for you. 120 pages for your sketches, drawings, thoughts, wishes, needs, experiences or simply for important notes. But the issue is we -- while we were in the process of the merger, it was harder to hire new people, to bring them on because of the uncertainty of exactly how they would fit into the new organization. And I think we recognize that. I mean there's continued view inside the organization on how important that is for us to have that cash so we can reinvest in the business and buy back shares and do a variety of different things that we can do with that cash. And so my follow-up, so I -- there's always strategic actions that could be happening and announced over the next couple of months. So is the desire to put someone in place in advance of the time frame? Your next question is from Phil Stefano of Deutsche Bank. As John mentioned, we had lost some teams. Or is there any opportunity we could just see a larger share repurchase program? And we've seen some moderation on workers' comp and D&O. There's the potential for share repurchases, do or don't we lever up the debt, the strategic review for Willis Re. The strong margin expansion was a result of careful cost containment efforts, coupled with solid top line growth. And -- but obviously, those are what you're seeing in terms of quoted prices. And related to replacement hiring, generally speaking, when we take a look at the top leadership team within Willis Towers Watson and then perhaps the layer or two below, how should we think about the retention on a go-forward basis? Ryan, I mean we have not given guidance, and we're not intending to do it. And then just the company posted very strong growth, 8%, clearly off of a weaker 2Q comp. Willis Towers Watson Public Limited Company (WLTW) Q2 2021 Earnings Call Transcript. Yes. We have a lot of enthusiasm around some of the prospects we see. CNA Financial Announces Second Quarter 2021 Net Income Of $1.35 Per Share And Core Income Of $1.25 Per Share. While we highly value the Willis Re platform and our colleagues who contribute to its success, we believe now is an appropriate time to explore strategic alternatives for this business. But I think that's really the focal point. Ryan, I mean we have not given guidance, and we're not intending to do it. Willis Towers Watson is a leading global advisory, broking and solutions company that designs and delivers solutions that manage risk, optimize benefits, cultivate talent and expand the power of capital to protect and strengthen institutions and individuals. It should be noted the growth in our margins was driven by the speed of revenue growth, which outpaced our expense growth. I would expect that. So one is, as you might imagine, when you think about a merger, we've lost -- one of the biggest places we've lost, frankly, has been our corporate and some of our corporate areas overall in the business with the anticipation of the business combination. CNA Financial Corporation (CNA) Q2 2021 Earnings Call Transcript The Motley Fool 8/4/2021. Willis Towers Watson Public Limited Company (WLTW) Q4 2020 Earnings Call Transcript Yahoo 02/09 12:30 ET. WHN ignored that wisdom and announced that it was switching from a middle-of-the-road format to country, billing itself as "Easy Lovin' Country". Our Investment Risk & Reinsurance segment is seeing strong demand from insurers for technology, advice and analytics, driving new business across our Insurance Consulting and Technology and Reinsurance businesses. PR Newswire 8/3/2021. WLTW. We have no borrowings outstanding under our $1.25 billion credit facility. Hey. Wall calendar of Native inspired art combined with uplifting monthly messages Found insideA biography and corporate whodunit filled with surprising details, The King of Content investigates Redstone’s impact on business and popular culture, as well as the family feuds, corporate battles, and questionable alliances that go back ... In this book, John Kwoka, a noted authority on industrial organization, examines all reliable empirical studies of the effect of specific mergers and develops entirely new information about the policies and remedies of antitrust agencies ... We will look at share repurchases. Good luck in the future. I think we will highlight some of that in -- on September 9. To provide clear comparability with prior periods, all commentary regarding the results of our segments will be on an organic basis, unless specifically stated otherwise. And so Adam and the team are very focused on it and continue to drive efficiency and effectiveness. Interactive Chart for WLTW210820C00210000 (WLTW210820C00210000), analyze all the data with a huge range of indicators. So our view is that employee retention is something that we are managing constantly, not just during deals. Now let's look at Corporate Risk & Broking, or CRB, which had a revenue increase of 8% on an organic and constant currency basis as compared to the prior year second quarter. Thanks. Just wondering, with regards to this kind of the margin outlook for the second half of the year, how should we think about that vis-a-vis some replacement hiring? As John noted, we plan to implement an accelerated share repurchase strategy of $500 million in addition to our normal share repurchase plans. Okay. Yes. If currency was to remain stable at today's rates, we'd expect a modest tailwind to adjusted diluted earnings per share for the full year. Motley Fool. We expect high demand for GMP work to continue through the remainder of 2021 and into 2022 and 2023. As a result, we've asked each of our business segment leaders to look at potential areas of growth for investment. Yes. This book looks at these criticisms and illustrates the relevance of a sociological perspective in the analysis of human practice. Willis Towers Watson Public Limited Company (WLTW) Q2 2021 Earnings Call Transcript. So Elyse, thanks for the question. Made In NYC | I would expect that. Adjusted diluted earnings per share were $2.66 for the second quarter, reflecting an increase of 48% compared to the prior year. WLTW Earnings Call - Final Transcript. Any color you could provide there would be helpful. As we look to the future, we will build on our successes, which have been significant, as evidenced by our performance over the last several quarters. But -- we hire the people up for the seasonal fourth quarter and then they go away. Investment's growth was aided further by increased performance fees. The 370 basis point margin improvement contributes to a 2-year increase of 770 basis points and reflects the continuation of effective cost containment. Your next question is from Ryan Tunis of Autonomous Research. We will. (WLTW) in Q2 Earnings? Your next question is from Shlomo Rosenbaum of Stifel. Today, I'm going to share some observations on the termination of our proposed combination -- business combination agreement with Aon. Reported revenue for the second quarter was $2.3 billion, up 8% as compared to the prior year second quarter, up 4% on a constant currency basis and up 8% on an organic basis. Earnings Call Date. Moving back to the results for the second quarter. Adjusted EBITDA was $557 million or 24.4% of revenue for the second quarter as compared to $441 million or 20.9% of revenue for the same period last year. Willis Towers Watson Public Limited Company (NASDAQ:WLTW) Q2 2021 Earnings Call Aug 3, 2021, 9:00 … Good morning, everyone, and thank you for joining us on our second quarter 2021 earnings call. They remain committed to our vision and upheld our values. And considering our June 30 balance sheet, we have plenty of additional debt capacity for discretionary use in the second half of the year. Everything you've ever wanted to know about the Garden State can now be found in one place. As you've seen, we're up on -- 30%, 31% year-to-date on an -- if you look at it on a run rate basis for the first half, which I think is consistent with where we've been over -- now over the last couple of years. And then John, the Willis Re decision at this time, could you expand a little bit more on what your thinking is about maybe divesting that, and why? About the Author . Thank you. But -- and yet you're divesting Willis Re. Great. As we did say, we expected that we would -- there are some things that we were going slower on, and we'll address them on September 9, that we're going to reinvigorate some initiatives we had. I understand that your contract runs through the end of this year. 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