On the Record · Willis Towers Watson

Willis Towers Watson acquisitions, on the record

The businesses Willis Towers Watson bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

Business	Deal	When	Value
TRANZACT Word for word“As discussed in Note 3 — Acquisitions and Divestitures and elsewhere in this Annual Report on Form 10-K, the sale of TRANZACT was completed on December 31, 2024.” 10-K for 2024	divestiture	completed on December 31, 2024	—
reinsurance joint venture with Bain Capital Word for word“During the fourth quarter of 2024, we re-entered the reinsurance broking space by making an initial investment in a reinsurance joint venture with Bain Capital.” 10-K for 2024	agreed acquisition	During the fourth quarter of 2024	—
Newfront Insurance Holdings, Inc. Word for word“The net proceeds from the 2025 senior notes offering, after deducting underwriter discounts and commissions and estimated offering expenses, were $989 million and were used to pay the consideration for our Newfront acquisition, which was completed on January 27, 2026, and related fees, costs and expenses.” 10-K for 2025	acquisition	January 27, 2026	—

As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year ended	Cash paid for acquisitions (net of cash acquired)	Cash received from selling businesses	Goodwill from acquisitions
2016-12-31	−$476 million	—	$6.79 billion
2017-12-31	$13 million	—	$8 million
2018-12-31	$36 million	—	$38 million
2019-12-31	$1.33 billion	$17 million	$737 million
2020-12-31	$69 million	$237 million	$50 million
2021-12-31	$47 million	$4.05 billion	$51 million
2022-12-31	$81 million	—	$104 million
2023-12-31	$6 million	—	—
2024-12-31	$104 million	—	$21 million
2025-12-31	$15 million	—	$9 million

Deal filings since 2016

2026-01-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-12-22 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-10-20 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2024-03-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2023-05-17 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2022-05-19 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-12-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-12-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2021-10-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-08-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-07-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-05-18 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-10-30 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2020-03-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-03-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-09-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-09-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-05-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-03-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-05-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-04-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-03-22 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-01-05 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets

Read from Willis Towers Watson’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-25. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.