WLTW
#Okay, <UNK>, do you want to start off with the currency impact.
Well, yes.
I mean, I think it was in the script that there was about $50 million, a little over $50 million of FX impact on the revenue line.
I don't know that we gave any PS impact, but it would ---+ it was ---+ it would be modest.
And just to note going forward, you'll note that our guidance on FX is a little bit lower than where the Pound and the Euro are now, so, you know, there's probably a single-digit, from an EPS point of view, single-digit kind of sense, potential upside if rates stay the way they are now.
And so I guess, just on ---+ sorry, I was going to answer on Brexit.
So just on that I think, you know, like everyone else, we are ---+ we're following the debate there, and there's ---+ some people are concerned about the impact of some uncertainty in the UK, although I think the uncertainty leading up to the vote is probably as great as anything that they would see to.
We see basically some cons and some pros.
The London insurance market could see some premium declines accelerate, the ---+ you know, the insurance centers could move elsewhere.
On the other hand, their added complexity in the market place is, in general, something that's good for consulting firms and for brokers.
There's ---+ there would be issues around any ---+ if people did move wiggle entities or capital or staffing, that would create opportunities for us, you know, in particular, it could benefit CRB and HCP.
So, I think there would clearly be some short-term dislocations.
We generally feel that when there are dislocations in the market, it favors companies that are agile and nimble and flexible and we like to think of ourselves that way.
Thank you.
<UNK>, I just mentioned, you know, it's, to some extent, maybe the main driver, the continuing success in Health and Welfare Administration business and the new clients, as we've been talking about over the last year or so.
But, again, that is good.
Those are usually ---+ <UNK>, those are like long-term deals where we'll sign up the client, you know, for a five-year deal or something like that, and every once in a while if there's a big law change, that part of the business might have some a ---+ special projects, but relatively rarely.
I'm sorry, first half versus second half for ---+.
It's the Gras Savoye and the seasonality there, <UNK>.
On the revenues.
Yes.
I think, you know, it's certainly over 50%, you know, probably reasonably over 50% in the first half and pretty much all the profit is in the first half.
Okay.
Well, thanks, everyone, for joining us this morning, and I look forward to talking to you on the Willis Towers Watson earnings call in August.
So long.
