WTW’s first-quarter revenue rose 4% and the global broker says it is on track for sales of $US9.9 billion ($15.18 billion) or more this year.

Its risk and broking division posted an 8% rise in revenue to $US978 million ($1.49 billion) for the first quarter, while health, wealth and career revenue grew 4% to $US1.34 billion ($2.05 billion).

“We started 2024 with solid first-quarter results,” CEO Carl Hess said. “This encouraging start of the year, our robust new business pipeline and our plans for realising operating efficiencies across the rest of the year give us a high level of confidence that we will deliver on our 2024 commitments.”

Total revenue rose to $US2.34 billion ($3.58 billion) and WTW expects to deliver “mid-single-digit organic revenue growth” for the full year, and an adjusted operating margin of 22.5% to 23.5%.

CFO Andrew Krasner says “the market remains a bit mixed” in terms of rates.

The risk environment is marked by increased frequency of natural disasters, social inflation and geopolitical conflicts, and “as a result of that, we see rate increases across various lines such as casualty, especially in North America, and globally in political violence and terrorism”.

However, there has been “some flattening and even softening” in specific lines such as directors’ and officers’ and cyber, he says.