Willis Towers Watson PLC
WTWHIGH VELOCITYFILING INTENSITYWillis Towers Watson PLC reads as an High Velocity (composite 78/100); Consistent Strategic Buyer deploying $107M across 0 disclosed transactions, up 55% vs the prior cycle · primary market Insurance.
Lens
Disclosed M&A capital (2023–2025)
$107M
vs $69M in 2020–2022
Disclosed transactions
N/A
1/3 active fiscal years in window
Buyer archetype
Consistent Strategic Buyer
Meaningful spend appears across repeat years.
Composite score
78
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $2.8B disclosed buyer spend
- Filed within 26d
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 26d
- 395 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- 9 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 9 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 9 activism filings
- Latest activism 9y ago; heavily discounted
Distress Watch
Issuers showing financial-distress filing patterns
- 9 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
- 1 auditor change
- Latest event 9.2y ago; heavily discounted
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 395 8-Ks
- Filed within 26d
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $29.1B
- 10-Q 26d ago
- 3 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $1,329M · Peak count: 3
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | N/A | N/A | N/A | N/A |
| 2024 | N/A | $107M | N/A | N/A |
| 2023 | N/A | N/A | N/A | N/A |
| 2022 | N/A | N/A | N/A | N/A |
| 2021 | N/A | N/A | N/A | N/A |
| 2020 | N/A | $69M | N/A | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Geographic Expansion20%
- Bolt On20%
- Horizontal Consolidation20%
- Platform20%
- Tuck In20%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- bolt_on
- geographic_expansion
- horizontal_consolidation
- platform
- tuck_in
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“The primary elements of the program include: moving more than 3,500 support roles from higher cost locations to facilities in lower cost locations; net workforce reductions in support positions; lease consolidation in real estate; and information technology systems simplification and rationalization.”
“Immediately following the Merger, Willis effected (i) a consolidation (i.e., a reverse stock split under Irish law) of Willis ordinary shares whereby every 2.6490 Willis ordinary shares were consolidated into one Willis ordinary share $0.000304635 nominal value per share”
“TRANZACT operates as part of our Benefits Delivery and Administration segment and enhances the Company’s existing Medicare broking offering”
“The decrease in expenses in 2018 was also due to the completion of certain integration activities in connection with the Merger.”
“Other individually less significant acquisitions were completed during the year ended December 31, 2019”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Insurance
- Market spend (2023–2025)
- $50.4B
- Market spend (2020–2022)
- $62.2B
- Recent vs prior
- −19%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
WTW trades at a -0.8-turn discount to the Insurance peer median of 11.6×.
- EV / Revenue
- 2.9×
- Net debt / EBITDA
- 2.9×
- Peer median EV / EBITDA
- 11.6×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
| 14.9× | 3.6× | 2.8× | $27.5B | $10.2B | |
| 12.1× | 4.1× | 3.1× | $6.4B | $9.4B | |
| 11.2× | 2.3× | -0.1× | $61.1B | $1.3B | |
Willis Towers Watson PLCWTW | 10.8× | 2.9× | 2.9× | $9.9B | $107M |
| 8.2× | 0.6× | -3.8× | $76.9B | $738M |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Insurance. Bars scaled to the highest EV/EBITDA in the set.
Target landscape.
Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.
No qualifying public-issuer targets surfaced from the current signal mix.
Stated target categories
No target categories enumerated in the audited corpus for this issuer.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)282026-02-25
- 10-Q (quarterly)712026-04-30
- 8-K (event)3952026-04-30
- Proxy / DEF 14A662026-03-27
- Activism (13D / DFAN / PREC)92017-05-31
Signals on file
- elevated
Auditor change
2017-03-031 Item 4.01 filing on file; certifying accountant change.
- elevated
Activism on file
2017-05-319 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
- info
Signal
Restatement risk
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.