for Thanks, Today, of for Aida, XXXX. discuss quarter our and XXXX the results and morning, outlook third the remainder we’ll the review everyone. of good
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results. quarter Now loss of our We on revenues. the and organic as up loss and compared basis. or quarter. growth third million. XX.X% the XX% for $XXX for or Reported quarter $X.X revenues, million, observed was and in prior segments quarter EBITDA on for was movement. to of million, for quarter Net year $XXX was positive to $XX Adjusted revenues to the billion, X% million, year move to third constant-currency total to were both quarter I’d revenues of up total XX.X% as quarter of net the third year of X% prior EBITDA all adjusted our $XX and as the $XX up million the prior currency compared compared the of third quarter regions included the like Reported
$X.XX. diluted share adjusted of had net diluted was EPS. the share the earnings adjusted $X.XX were hedging and no loss impact on per For per Currency fluctuations quarter, diluted
more of each Now let’s detail. look in at segments the
in XXXX, the a the X, in we X-K, beginning SEC on April segment detailed As XXXX. Form were our changes filed we results. affected These with that changes made certain reminder,
reflect otherwise. results currency, the revenue the segment of All stated constant fees discussed detail and guidance in unless specifically commissions and
from results compensation. growth integration on unallocated and to are and an basis. margins such third cost, discretionary basis transaction as fees using resulting mergers and as of segment The was growth total of X%, Capital prior cost HCB, consideration and quarter. expenses, organic year are and on the segment commissions revenues restructuring X% constant-currency before Benefits, certain fees Our Total intangibles, was calculated commissions and amortization acquisition. segment Human corporate and compared organic and & a or grew X% segment X% include
revenues commissions clients legislative by fees new the and or Administration had to All provided we year-to-date almost XX%. Health implement additional was contributing Technology X%, of growth strong Solutions, and increased the respect TAS, and existing clients to with X%. regions Our growth, Britain support as Benefits and to to in changes. Great continued growth
international to market decreased driven grew product strong our X%, Global in and project the to were partially On increase strong primarily the these This offset commissions growth in global due North in Rewards project also to benefit fees surveys. organic demand sales, in both revenues by business. and see business. growth work Wealth basis, and growth Solutions middle Notably, lower of modestly. advisory the compensation grew an major grew sale continued quarter’s and to somewhat market offset, corporate new appointments. related sales, was and increased Talent international work XX%. software results This were by due transactions rewards America’s by large results as revenues
X%. segment a Revenue growth, positive The acquisition HCB by growth related third operating very HCB by partially the Great legislation was for Sum disciplined we derisking for XX%, had North As were was quarter. expense Western work expected, part in of earlier Great the Britain. growth of down and margin for to The growth. increase in Europe continued for special very services. retirement XXXX. this the strong in in decline commissions outlook growth continued the in business in offset due International lower year. in management in Bulk X% The America from fees year and demand to to margin a large Britain demand pension have projects our contributed business, Lump Russell’s were actuarial an also Overall, and to prior strong
a Client Now strong I structure how have Risk quarter. the by pleased and fees all business prior as growth as X%, by with third point positive very had Constant quarter. and or International last only by Great was retention and in I from CRB. and result to a certainly like in this made by the up of have a commissions believe doesn’t growth this To South side is well had On growth the turning is restructuring. X%, job CRB we Sweden X% new as note, America. team had see as Europe compared by Western exhibited say recurring new few Russia, as market were our results in and excellent the North XX% by a and approximately increased all the fees turning year America and strong of quarters. and North management The progress but to retention a offset the management led of to of prior segment am currency Britain the Latin Africa regional XX% the as America transport I’d with commissions leadership Benelux. end Not and in year. do result of quarter. business growth colleagues and over our comparable driven increased Asia, Corporate organic about sign. this the solid a softness finalized, solid our for regions. declines retention driven Broking, declined
CRB or segment what continuous we be an had X% third will flat business the operating the The call improving business to forward, Moving prior a usual. quarter. managed year margin, as environment in
Britain. margin The shortfall the flat Great remained revenue despite in third quarter
We’re in globally. pleased very business CRB momentum our with the
Risk compared organic prior quarter. the Investment, as Constant IRR. increased year to to and and and currency Now fees Reinsurance, X% or commissions third
the Reinsurance captured CRB called a business line on ICT, sales, and as and As The of lead are flat was result Consulting result of pricing growth or a Reinsurance in timing segment previous Software, of fees continued and only. formally Technology, Treaty-based Consulting and Facultative positive Insurance, renewals. for reminder, as quarters commissions segment. the a Reinsurance strong Risk, Reinsurance pressure represents software the growth the results in
the returns by result However, some fees. the increase a as increased commission performance Matthiessen in portfolio on result of overall Securities hurricanes, by fees in of profit of higher commissions on an in and fees investment in our grew to and a and as number following were Commissions slightly due Investment offset Wholesale, were of divestiture Max well positive a contracting. increased Atlantic contract cancellation a driven portfolio. small and performance U.S. flat as loss revenues a decline business timing underwriting the income. renewals and the increased as business, of of new a programs but fees the
quarter, margin, prior segment had operating quarter. the Investment, the For third flat & XX% to year the a Risk Reinsurance
innovation the We momentum well, is of for but business XXXX. Not taking feel of excited business continue to IRR place. doing the very core about the about we’re only positive the some
great It business. the offers guess, the Asset Australia the while example like provides exchange negotiating I already potentially investment of Management For available AMX monitoring. have or only time, and by the for $X more than risk investment been smarter, operational efficient AMX. in for and efficiencies eight opening the easier Exchange, their in months. up for new investors in and less compliance same way on to investors burden getting investors This their of We of cutting introducing and billion operational It the the reduces a development with investment example in more layer and -- expense a for well, Ireland is one transact managers one institutional adding tasks, another. both currently are way a of and managers an many managers. to marketplace while managers expensive is is it occurred has needed the prominent time assets investment and extra UK, preferred access same traction contracts, also and a at exchange
Health by Administration, and and So name XX% prior Exchanges. Driven Commissions increased X%. the Access of Individual Solutions by for commissions by due revenue XX%. new new projects. increased fees Increased in The and which fees to and known and our grow, in Exchange increase America, The as customized to Welfare the business as year was and enrollment Exchange formerly Benefit, last, was what Retiree employee BDA active segment rest membership the we’ve Delivery known Marketplace, by clients formerly North Marketplace, quarter. Active third of the changed and that from was The at increased clients to drove our the pension Marketplace the continued BDA. exchange. increased and or primarily outsourcing Group Individual
me turn to So enrollments. the XXXX let
The enrollment to As lives mid-market the of six really sales Group XXXX we mentioned it this lives previous we period until in December but about end our for committed month, approximately XXX,XXX have winding with large enrolled later calls, that we down, have XXXX. have expect our earnings be season in Marketplace. by the and total clients finalized won’t is XX,XXX
previous the for we is our are XX,XXX Enrollments X, year. to during as enroll during may in in be in mentioned matures. that while Marketplace about Individual spread seasonal were we aligned year to the expected a for call, enrolled compared operating will the January business throughout XX% the models as enrollments margin, XXXX, prior the evenly As more with only primarily have so scheduled XXXX. retirees BDA process exchange business to XX,XXX enrollment the of The The XX,XXX changing had staffing year, was Marketplace the third segment our increase responsible quarter. Individual margin, as XX% pacing
taking evolve, we growth of the continued be to business. the direction is optimistic BDA of are about to business there like While this the the continue which long-term and business, elements
on Program, the our synergy to Operational OIP. moving or So in objectives merger Improvement
in net in discussed XX, $XXX objective will rate this million XXXX. by as achieve we’re savings track when initiatives tax will synergies be surpassed XXXX, we’ve the management cost project calendar the eliminated we to and completed on our All obtaining of December calls, As resources exit a we be costs and rate of of and past tax XXXX. end XX%
goals We an margin. and $XX expect savings important adjusted our in driver achieving to XX% our this meet is EBITDA of million,
P&C. of size be synergy achieved already to exchange; continues Health over and sale the strong. merger The three market nearly Our our large revenue and also the goals. Global year average objectives solutions increased quite specific XX% sales mid-market Health We’ve identified U.S. three of sales synergies: areas Global pipeline solutions: XXXX, has
implementations but our We’re the we the progress unlike and sales, a process expect year-over-year mid-market seen the this we’ve to with delaying related see enrollment be extremely down, and exchange decrease strong, The the clients is market January service in XXXX, debate. sales winding made pipeline, The sales for ACA decisions, sales. pleased we’ve large think this to in may long-running that remain we offering.
whenever ACA the but clients, our experience we [technical a Now difficulty] healthcare debate legislation. to there’s around seem impact pause
that potential their we be to continue to growth. for its exchange significant We mid-market continue believe focused the and business on
Finally P&C We’ve turning large almost assignments market. won to XX the synergies. in the
wins modest key we in marketing are the strong revenue, our call, most last the we pipeline, earnings to a in of As discussed the strategies. continue Overall, enhance adding and the space. but like generating resources have are momentum large market
I’d to trust CFO. congratulate focus, to all I’m for risk pleased their everyone Burwell, to of with capital very thank to them colleagues So clients human and a like for want to continued company our quarter. collaboration also I our thank our also assist placing their client issues. good introduce in important Mike new our on and engagement
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