NatWest Engaged in Exclusive Negotiations to Sell Cushon to Willis Towers Watson, According to Sources

Written by Emily J. Thompson, Senior Investment Analyst

WTW+0.11%

Source: Reuters

Updated: Nov 28 2025

0mins

Source: Reuters

NatWest Group's Stake Sale: NatWest Group is in exclusive negotiations to sell its 85% stake in workplace pension provider Cushon to U.S. insurance broker Willis Towers Watson.
Recent Acquisition: This potential sale comes just two years after NatWest acquired the Cushon business, indicating a quick turnaround in ownership.

WTW

$322.81+Infinity%1D

Analyst Views on WTW

Wall Street analysts forecast WTW stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WTW is 365.00 USD with a low forecast of 318.00 USD and a high forecast of 400.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

15 Analyst Rating

10 Buy

4 Hold

1 Sell

Moderate Buy

Current: 322.470

Low

318.00

Averages

365.00

High

400.00

Current: 322.470

Low

318.00

Averages

365.00

High

400.00

Barclays

Underweight

maintain

$303 -> $318

2026-01-08

Reason

Barclays

Price Target

$303 -> $318

AI Analysis

2026-01-08

maintain

Underweight

Reason

Barclays raised the firm's price target on WTW to $318 from $303 and keeps an Underweight rating on the shares. The firm adjusted ratings and price targets as part of its 2026 outlook for the North America property and casualty Insurance group. Pricing is softening across commercial and reinsurance, while personal lines look relatively better and brokers face organic growth headwinds, the analyst tells investors in a research note. Barclays recommends staying selective.

Evercore ISI

Outperform -> NULL

downgrade

$387 -> $383

2026-01-07

Reason

Evercore ISI

Price Target

$387 -> $383

2026-01-07

downgrade

Outperform -> NULL

Reason

Evercore ISI lowered the firm's price target on WTW to $383 from $387 and keeps an Outperform rating on the shares. With a tough cyclical backdrop, 2026 is "shaping up to be a challenging year for the P&C insurance sector," but this presents "a stock pickers market with opportunities for discerning investors," the analyst says in a year-ahead outlook note for the group.

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Goldman Sachs

Buy

maintain

$374 -> $375

2026-01-07

Reason

Goldman Sachs

Price Target

$374 -> $375

2026-01-07

maintain

Buy

Reason

Goldman Sachs raised the firm's price target on WTW to $375 from $374 and keeps a Buy rating on the shares. In a sector note on Americas Insurance, the firm said it expects "strong and fairly resilient" insurer profitability for the next few years, but added that it believes we are "solidly in the softening phase" of the P&C insurance cycle, which leads to "increased capital supply and competition, which should drive a deceleration in growth/pricing/margins, that we think are broadly underappreciated within Street estimates."

Keefe Bruyette

NULL -> Outperform

maintain

$375 -> $388

2026-01-06

Reason

Keefe Bruyette

Price Target

$375 -> $388

2026-01-06

maintain

NULL -> Outperform

Reason

Keefe Bruyette raised the firm's price target on WTW to $388 from $375 and keeps an Outperform rating on the shares.

About WTW

Willis Towers Watson Public Limited Company is a global advisory, broking and solutions company that provides data-driven, insight-led solutions in the areas of people, risk and capital. The Company’s segments include Health, Wealth & Career (HWC), Risk & Broking (R&B), and Corporate. The HWC segment provides an array of advice, broking, solutions and technology for employee benefit plans, institutional investors, compensation and career programs, and employee experience overall. Its portfolio of services supports the interrelated challenges that the management teams of its clients face across human resources and finance. It focuses on four key areas: Health, Wealth, Career and Benefits Delivery & Outsourcing. The R&B segment provides a range of risk advice, insurance brokerage and consulting services to clients ranging from small businesses to multinational corporations. Its R&B segment includes two businesses: Corporate Risk & Broking and Insurance Consulting and Technology.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.