Direct Answer
Willis Towers Watson reports revenue across 3 business segments in its fiscal 2025 Form 10-K. Health Wealth and Career is the largest, with $5.3 billion of revenue (55% of the total), followed by Risk and Broking at $4.3 billion (45%). 46% of revenue came from the United States.
How Does Willis Towers Watson Make Money?
No single line supplies a majority of revenue: the largest, Health Wealth and Career, is 55%, which spreads Willis Towers Watson's exposure across several demand drivers. Between fiscal 2024 and 2025, Risk and Broking grew fastest (+7.6%) and Health Wealth and Career slowest (-7.8%), so the revenue mix tilts toward Risk and Broking while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Health Wealth and Career | $5.3 billion | $5.8 billion | 54.9% | -7.8% |
| Risk and Broking | $4.3 billion | $4.0 billion | 44.8% | 7.6% |
| Corporate | $34 million | $33 million | 0.4% | 3.0% |
Which Willis Towers Watson Segments Earn the Most?
| Segment | FY2025 segment operating income | Segment margin |
|---|---|---|
| Health Wealth and Career | $1.7 billion | 31.6% |
| Risk and Broking | $1.1 billion | 24.7% |
Segment operating income is the profit measure Willis Towers Watson reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Willis Towers Watson more safely than against another company.
Where Does Willis Towers Watson's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| United States | $4.5 billion | $5.1 billion | 46.4% | -12.2% |
| Rest of World | $3.0 billion | $2.8 billion | 30.9% | 6.5% |
| United Kingdom | $2.1 billion | $1.9 billion | 21.3% | 11.1% |
| Ireland | $143 million | $131 million | 1.5% | 9.2% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Willis Towers Watson's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Willis Towers Watson reported in the segment note and revenue disclosures of its Form 10-K filed February 25, 2026 (accession 0001193125-26-069307), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Willis Towers Watson's business segments?
In its fiscal 2025 Form 10-K, Willis Towers Watson reports revenue for Health Wealth and Career, Risk and Broking and Corporate.
Which part of Willis Towers Watson brings in the most revenue?
Health Wealth and Career, with $5.3 billion of revenue in fiscal 2025, or 55% of the total.
How much of Willis Towers Watson's revenue comes from outside the United States?
54% in fiscal 2025, by the geographic breakdown Willis Towers Watson reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.