In Volatile Times, Willis Towers Watson Deal ‘More Important Than Ever:’ Aon CEO Case

Aon reaffirmed its commitment to the acquisition of Willis Towers Watson in a report of its first quarter results.

“Our Aon United Strategy and pending combination with Willis Towers Watson are more important than ever as we focus on accelerating innovation to bring the best of our firm to clients during this time of unprecedented volatility,” said Greg Case, Aon CEO, in a statement.

Aon reported first quarter net income from continuing operations of $773 million, or $3.29 per share, compared to $659 million, or $2.70 per share, in the same period in 2019.

Total revenue increased 2% to $3.2 billion, including organic revenue growth of 5%.

The acquisition of WTW is expected to be completed in the first half of 2021.

Aon announced this week it will temporarily cut the pay by 50% of the company’s named executive officers in response to the COVID-19 crisis. In addition, 70% of its global workforce will see a 20% reduction in their salaries, while approximately 30% will see no cuts.

Source: Aon

Related:

• Willis Towers Watson Withdraws 2020 Target on COVID-19 Crisis; Q1 Revenues Up 7%
• Aon Executives, 70% of Employees Taking Pay Cuts Amid Coronavirus Uncertainties