WTW Takes $138M Financial Hit On Russia Exit

By Ashish Sareen (April 29, 2022, 5:50 PM BST) -- Insurance brokerage giant WTW has disclosed it lost $138 million from exiting the Russian market because of the country's invasion of Ukraine.

The broker reported its financial results for the first quarter on Thursday, which showed that it lost $138 million from transferring ownership of its Russian subsidiary to local management in March.

Overall, the company saw its revenue decrease by 3% from the same time last year, totaling $2.16 billion in the first quarter of 2022, a $70 million drop from its early 2021 figures.

"The first quarter marked a solid start to the year for WTW, with results that...

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