Towers Watson retains top spot in UK pension consulting market by revenue

clock
Towers Watson retains top spot in UK pension consulting market by revenue

Towers Watson Limited - the UK actuarial and pensions consulting business of Willis Towers Watson - has published its 2017 annual report and accounts, revealing it had a turnover of £447.7m during the year.

The accounts - published this week - also revealed the consulting firm made a pre-tax profit of £82.6m during the 12 months to 31 December 2017.

The consultant's turnover was substantially ahead of the next two biggest firms in the market - Mercer and Aon Hewitt, which posted 2017 revenues of £384.3m and £317.6m respectively.

In its accounts, Towers Watson revealed total client chargeable hours had increased by 12% on a pro-rata monthly basis, while revenue per colleague increased to £12,200 per month, compared to £11,800 per month in the 18 month period ended 31 December 2016, an increase of 11%.

See: The UK's biggest pension consulting firms

More on Defined Contribution

Professional Pensions Monthly Digest: June 2022

Professional Pensions Monthly Digest: June 2022

Our monthly round-up of the most important articles PP has published over the last month

Hope William-Smith
clock 06 July 2022 • 5 min read
Updated: Key dates for the pension industry

Updated: Key dates for the pension industry

Here are all the key dates upcoming in the pensions industry

Martin Richmond
clock 06 July 2022 • 2 min read
Former chancellor Rishi Sunak

Nadhim Zahawi named chancellor after Sunak resigns

Calls for Zahawi not to let pensions fall by the wayside

Hope William-Smith
clock 06 July 2022 • 3 min read
Trustpilot