[Ranking] TOP 25 Insurance Brokers / Insurance Companies Q3/2023
Intro
The insurance industry plays a critical role in the worldwide economy, offering protection and financial security to individuals, businesses, and governments. Insurance brokers, a sub-industry within the insurance sector, act as intermediaries between insurance companies and their clients, helping individuals and organizations find the most suitable insurance coverage.
With their expertise and knowledge of the insurance market, insurance brokers have a profound influence on various sectors, including healthcare, automotive, property, and liability. By providing tailored insurance solutions, brokers enable businesses to mitigate risks and protect their assets, ultimately contributing to the stability and growth of these industries.
The economic magnitude of insurance brokers is significant and continues to grow. In 2019, the global insurance brokers market was valued at over $46 billion, and it is projected to reach $59 billion by 2025, with a compound annual growth rate (CAGR) of 4.2%. This upward trajectory highlights the increasing demand for professional insurance advice and brokerage services worldwide.
Recent trends in the insurance brokerage industry include the adoption of digital technologies, such as online platforms and artificial intelligence, to streamline the insurance buying process and enhance customer experience. Additionally, the industry is facing obstacles such as regulatory changes, cybersecurity threats, and the need to adapt to new risk landscapes, such as climate change and emerging technologies.
The landscape of the insurance brokerage industry is constantly evolving, driven by technological advancements, changing customer expectations, and emerging risks. As a result, the industry is witnessing the rise of innovative and forward-thinking companies that are reshaping the traditional insurance brokerage model. Exploring the top companies in this sub-industry provides valuable insights into the trends and strategies driving the future of insurance brokerage.
Ranking
#25 Integro Insurance Brokers
![Integro Insurance Brokers](https://media.ngrk.us/data/content-datantify-com/website/3117_3321-www-integrogroup-com-.webp)
Employees: 1.2K
Revenue: 350M$
Website: https://www.integrogroup.com/
Description: Integro Insurance Brokers is a leading insurance brokerage firm operating in the Insurance Brokers industry. Headquartered in Sydney, Australia, the company was founded in 2005. With a team of approximately 1.2 thousand employees, Integro Insurance Brokers provides a wide range of insurance brokerage services to clients in the insurance industry. The company specializes in risk management, insurance placement, and claims advocacy, offering tailored solutions to meet the unique needs of its clients. With annual revenues of around 350 million dollars, Integro Insurance Brokers has established itself as a trusted and reliable partner for insurance brokerage services in the industry.
#24 Risk Strategies Company
![Risk Strategies Company](https://media.ngrk.us/data/content-datantify-com/website/3125_3332-www-risk-strategies-com.webp)
Employees: 1.2K
Revenue: 450M$
Website: https://www.risk-strategies.com
Description: Risk Strategies is an insurance brokerage and risk management firm based in Boston, United States. With a history dating back to 1997, the company has established itself as a leader in the insurance industry. Risk Strategies specializes in providing innovative insurance solutions to a wide range of clients, including businesses, organizations, and individuals. The company's team of experienced insurance brokers work closely with clients to assess their unique risks and develop customized insurance strategies to protect their assets and mitigate potential losses. With a workforce of approximately 1,200 employees, Risk Strategies is committed to delivering exceptional service and tailored insurance solutions to meet the evolving needs of its clients. With annual revenue of 450 million dollars, Risk Strategies has achieved consistent growth and success in the insurance industry.
#23 EPIC Insurance Brokers & Consultants
![EPIC Insurance Brokers & Consultants](https://media.ngrk.us/data/content-datantify-com/website/3123_3327-www-epicbrokers-com-.webp)
Employees: 1.4K
Revenue: 450M$
Website: https://www.epicbrokers.com/
Description: EPIC Insurance Brokers & Consultants is a leading insurance brokerage and consulting firm operating in the Insurance Brokers industry. Headquartered in San Francisco, United States, EPIC offers a wide range of insurance solutions and risk management services to clients across North America. The company was founded in 2007 and has grown to have approximately 1,400 employees. With a revenue of 450 million dollars, EPIC is recognized for its expertise in providing innovative insurance solutions tailored to the specific needs of its clients. Through its comprehensive portfolio of services, EPIC helps businesses and individuals mitigate risks and protect their assets. Visit their website at https://www.epicbrokers.com/ for more information.
#22 CRC Insurance Services, Inc.
![CRC Insurance Services, Inc.](https://media.ngrk.us/data/content-datantify-com/website/3126_3328-www-crcins-com.webp)
Employees: 1.2K
Revenue: 600M$
Website: https://www.crcins.com
Description: CRC Insurance Services, Inc. is a leading insurance broker operating in the Insurance - Insurance Brokers industry. Established in 1982, the company is headquartered in Birmingham, United States. With a workforce of approximately 1.2 thousand employees, CRC Insurance Services specializes in providing comprehensive insurance brokerage services to clients across various sectors. The company has achieved significant success and has generated an estimated revenue of 600 million dollars. CRC Insurance Services is known for its expertise in risk assessment, policy placement, and claims management, offering tailored insurance solutions to meet the unique needs of its clients. Through its extensive network and industry knowledge, CRC Insurance Services has established itself as a trusted partner in the insurance brokerage sector.
#21 CBIZ, Inc.
![CBIZ, Inc.](https://media.ngrk.us/data/content-datantify-com/website/3127_3323-www-cbiz-com.webp)
Employees: 4K
Revenue: 1B$
Website: https://www.cbiz.com
Description: CBIZ, Inc. is a leading provider of insurance brokerage services in the Insurance industry. Based in Cleveland, United States, the company was founded in 1996. With a team of approximately 4,000 employees, CBIZ offers a wide range of insurance solutions to clients across various sectors. The company generates an annual revenue of 1 billion dollars. CBIZ is known for its expertise in risk management, employee benefits, property and casualty insurance, and other insurance-related services. With a strong presence in the North American market, CBIZ aims to provide innovative and tailored insurance solutions to meet the evolving needs of its clients.
#20 Gallagher Bassett Services, Inc.
![Gallagher Bassett Services, Inc.](https://media.ngrk.us/data/content-datantify-com/website/3112_3313-www-gallagherbassett-com-.webp)
Employees: 10K
Revenue: 1B$
Website: https://www.gallagherbassett.com/
Description: Gallagher Bassett Services, Inc., headquartered in Rolling Meadows, United States, is a leading player in the Insurance Brokers industry. The company was founded in 1962 and currently employs approximately 10,000 employees. With a revenue of 1 billion dollars, Gallagher Bassett offers a wide range of insurance services, specializing in claims management and risk control solutions. They provide innovative and effective solutions to insurance brokers, helping them streamline their operations and enhance customer experience. Through their expertise and strong industry relationships, Gallagher Bassett continues to be a trusted partner for insurance brokers in North America and beyond.
#19 Wells Fargo Insurance Services USA, Inc.
Employees: 3.8K
Revenue: 1.2B$
Website: https://www.wellsfargo.com/insurance/
Description: Wells Fargo Insurance Services USA, Inc. is a leading insurance brokerage firm operating in the Insurance Brokers industry. Headquartered in San Francisco, United States, the company has been providing a wide range of insurance services since its founding in 1989. With a team of approximately 3,800 employees, Wells Fargo Insurance Services USA, Inc. offers comprehensive insurance solutions to individuals, businesses, and organizations. The company generates an estimated annual revenue of 1.2 billion dollars, showcasing its significant presence in the industry. Through its expertise and extensive network, Wells Fargo Insurance Services USA, Inc. continues to serve as a trusted partner in addressing the insurance needs of its clients.
#18 AssuredPartners, Inc.
![AssuredPartners, Inc.](https://media.ngrk.us/data/content-datantify-com/website/3122_3329-www-assuredpartners-com.webp)
Employees: 7.5K
Revenue: 1.2B$
Website: https://www.assuredpartners.com
Description: AssuredPartners, Inc. is a leading insurance brokerage firm operating in the Insurance Brokers industry. Headquartered in Lake Mary, United States, the company was founded in 2011. With a workforce of approximately 7,500 employees, AssuredPartners serves clients across North America. The company generates an annual revenue of 1.2 billion dollars. AssuredPartners specializes in providing risk management and insurance solutions to businesses and individuals. They offer a wide range of insurance products, including property and casualty insurance, employee benefits, personal insurance, and surety bonds. AssuredPartners' commitment to delivering personalized service and tailored insurance solutions has made them a trusted partner for businesses and individuals seeking comprehensive insurance coverage.
#17 Alliant Insurance Services, Inc.
![Alliant Insurance Services, Inc.](https://media.ngrk.us/data/content-datantify-com/website/3115_3317-www-alliant-com.webp)
Employees: 4K
Revenue: 1.2B$
Website: https://www.alliant.com
Description: Alliant Insurance Services, Inc. is a leading insurance broker operating in the Insurance - Insurance Brokers industry. Headquartered in Newport Beach, United States, Alliant provides a comprehensive range of insurance products and services to clients across North America. With a history dating back to 1925, the company has established itself as a trusted partner in risk management and insurance solutions. Alliant employs approximately 4,000 professionals who leverage their expertise to deliver innovative and tailored insurance solutions to a diverse client base. The company generates an annual revenue of 1.2 billion dollars, making it a significant player in the insurance brokerage industry.
#16 Lockton Companies
![Lockton Companies](https://media.ngrk.us/data/content-datantify-com/website/3108_3311-www-lockton-com.webp)
Employees: 7.5K
Revenue: 1.5B$
Website: https://www.lockton.com
Description: Lockton Companies, headquartered in Kansas City, United States, is a leading insurance broker in the Insurance industry. With a history dating back to 1966, the company has grown to become a major player in the industry. Lockton Companies operates globally, providing a wide range of insurance brokerage services to clients across various sectors. The company boasts a workforce of approximately 7,500 employees, who are dedicated to delivering innovative insurance solutions tailored to meet the unique needs of their clients. Lockton Companies generates an impressive annual revenue of 1.5 billion dollars, further solidifying its position as a key player in the insurance brokerage industry.
#15 Acrisure LLC
Employees: 10K
Revenue: 1.5B$
Website: https://www.acrisure.com
Description: Acrisure LLC is a leading insurance brokerage firm headquartered in Grand Rapids, United States. Founded in 2005, the company operates in the Insurance Brokers industry. With a workforce of approximately 10,000 employees, Acrisure is committed to providing comprehensive insurance solutions to its clients. The company generates an estimated annual revenue of 1.5 billion dollars. Acrisure's expertise lies in offering a wide range of insurance products and services, including property and casualty, employee benefits, personal lines, and specialty programs. Through its strategic partnerships and innovative approach, Acrisure has established itself as a prominent player in the insurance industry, driving growth and delivering value to its clients.
#14 Lockton Companies, Inc.
![Lockton Companies, Inc.](https://media.ngrk.us/data/content-datantify-com/website/3108_3311-www-lockton-com.webp)
Employees: 8K
Revenue: 2B$
Website: https://www.lockton.com
Description: Lockton Companies, Inc. is a leading insurance broker operating in the Insurance - Insurance Brokers industry. With its headquarters in Kansas City, United States, Lockton has been providing innovative insurance solutions since its founding in 1966. The company boasts a workforce of approximately 8,000 employees, who are dedicated to delivering exceptional service to clients. Lockton generates an impressive annual revenue of 2 billion US dollars, solidifying its position as one of the industry's key players. By leveraging its extensive expertise and global network, Lockton helps clients navigate the complex insurance landscape and mitigate risks effectively.
#13 NFP Corp
![NFP Corp](https://media.ngrk.us/data/content-datantify-com/website/3121_3325-www-nfp-com.webp)
Employees: 4.5K
Revenue: 2.1B$
Website: https://www.nfp.com
Description: NFP Corp is a leading insurance broker operating in the Insurance - Insurance Brokers industry. Headquartered in New York City, United States, NFP Corp was founded in 1998. With a workforce of approximately 4.5 thousand employees, the company generates an annual revenue of 2.1 billion dollars. NFP Corp specializes in providing insurance brokerage services, connecting individuals and businesses with suitable insurance policies. Their expertise in the insurance industry allows them to offer comprehensive risk management solutions to clients across various sectors. NFP Corp's commitment to client satisfaction and their strong industry presence have contributed to their success as a trusted insurance broker in the market.
#12 Beecher Carlson Insurance Services, LLC
![Beecher Carlson Insurance Services, LLC](https://media.ngrk.us/data/content-datantify-com/website/3124_3324-www-beechercarlson-com.webp)
Employees: 1.5K
Revenue: 2.3B$
Website: https://www.beechercarlson.com
Description: Beecher Carlson Insurance Services, LLC is a leading insurance broker operating in the Insurance - Brokers industry. Headquartered in Atlanta, United States, the company was founded in 1981. With a workforce of approximately 1,500 employees, Beecher Carlson provides a wide range of insurance brokerage services to clients across North America. The company boasts an impressive annual revenue of 2.3 billion dollars, solidifying its position as a key player in the industry. Beecher Carlson is dedicated to delivering innovative and customized insurance solutions to meet the unique needs of its clients, ensuring their businesses are protected against various risks and uncertainties.
#11 Brown & Brown, Inc.
![Brown & Brown, Inc.](https://media.ngrk.us/data/content-datantify-com/website/3113_3316-www-bbinsurance-com.webp)
Employees: 12K
Revenue: 2.4B$
Website: https://www.bbinsurance.com
Description: Brown & Brown, Inc. is an insurance brokerage firm based in Daytona Beach, Florida. Founded in 1939, the company has established itself as a leading player in the Insurance Brokers industry. With headquarters in North America, specifically the United States, Brown & Brown operates as a provider of various insurance products and services. The company boasts a workforce of approximately 12,000 employees, who are dedicated to delivering customized insurance solutions to clients across different sectors. Brown & Brown has achieved significant financial success, generating an annual revenue of 2.4 billion dollars. Through its expertise and extensive network, the company continues to thrive in the dynamic and competitive insurance industry.
#10 HUB International Northeast Limited
![HUB International Northeast Limited](https://media.ngrk.us/data/content-datantify-com/website/3118_3319-www-hubinternational-com-.webp)
Employees: 13K
Revenue: 2.5B$
Website: https://www.hubinternational.com/
Description: HUB International Northeast Limited is a leading insurance brokerage firm operating in the Insurance Brokers industry. With its headquarters in New York City, United States, the company has been providing comprehensive insurance solutions since its establishment in 1998. HUB International Northeast Limited employs approximately 13,000 professionals who specialize in delivering personalized insurance services to clients. The company has achieved substantial growth and generates an estimated annual revenue of 2.5 billion USD. As a prominent player in the Insurance Brokers industry, HUB International Northeast Limited continues to excel in providing risk management, employee benefits, and other insurance-related services to its diverse clientele.
#9 USI Insurance Services LLC
![USI Insurance Services LLC](https://media.ngrk.us/data/content-datantify-com/website/3111_3315-www-usi-com.webp)
Employees: 10K
Revenue: 2.5B$
Website: https://www.usi.com
Description: USI Insurance Services LLC is a leading insurance brokerage firm operating in the Insurance Brokers industry. Headquartered in San Francisco, United States, USI has been providing insurance brokerage and risk management services since its founding in 1994. With a workforce of approximately 10,000 employees, the company offers a wide range of insurance solutions to clients across the United States. USI generates an annual revenue of 2.5 billion dollars, making it one of the key players in the insurance brokerage market. Through its comprehensive services and expertise, USI aims to assist individuals and businesses in managing their insurance needs and minimizing risk.
#8 AmWINS Group, Inc.
![AmWINS Group, Inc.](https://media.ngrk.us/data/content-datantify-com/website/3119_3326-www-amwins-com.webp)
Employees: 4K
Revenue: 2.5B$
Website: https://www.amwins.com
Description: AmWINS Group, Inc. is a leading insurance broker operating in the Insurance - Insurance Brokers industry. Headquartered in Charlotte, United States, AmWINS Group was founded in 1998. With a workforce of approximately 4,000 employees, the company generates an annual revenue of 2.5 billion dollars. AmWINS Group specializes in providing specialized insurance products and risk management solutions to its clients. With a strong presence in the North American market, the company offers a wide range of insurance brokering services, including property and casualty, professional lines, and employee benefits. AmWINS Group has built a reputation for its industry expertise, innovative solutions, and commitment to delivering exceptional service to its clients.
#7 Worldwide Facilities, LLC
Employees: 1.5K
Revenue: 3.2B$
Website: https://www.worldwidefacilities.com
Description: Worldwide Facilities, LLC is a leading Insurance Broker operating in the Insurance industry. Headquartered in Los Angeles, United States, the company was founded in 1970. With a workforce of approximately 1.5 thousand employees, Worldwide Facilities is dedicated to providing comprehensive insurance brokerage services to its clients. The company has achieved significant success and growth, generating an estimated revenue of 3.2 billion dollars. Offering a wide range of insurance products and services, Worldwide Facilities serves as a trusted intermediary between insurance carriers and businesses, helping clients manage their insurance needs efficiently and effectively.
#6 HUB International Insurance Services Inc.
![HUB International Insurance Services Inc.](https://media.ngrk.us/data/content-datantify-com/website/3118_3319-www-hubinternational-com-.webp)
Employees: 13K
Revenue: 3.2B$
Website: https://www.hubinternational.com/
Description: HUB International Insurance Services Inc. is a leading insurance brokerage firm operating in the Insurance Brokers industry. Headquartered in Chicago, United States, HUB International offers a wide range of insurance services to clients across North America. With a workforce of approximately 13,000 employees, the company has established itself as a trusted advisor, providing innovative insurance solutions to businesses and individuals. HUB International generates an impressive revenue of 3.2 billion dollars, highlighting its significant presence and success in the insurance industry. Through its comprehensive portfolio of insurance products and services, HUB International continues to deliver exceptional value and expertise to its diverse clientele.
#5 Hub International Limited
![Hub International Limited](https://media.ngrk.us/data/content-datantify-com/website/3114_3312-www-hubinternational-com.webp)
Employees: 13K
Revenue: 4.2B$
Website: https://www.hubinternational.com
Description: Hub International Limited is an insurance brokerage firm headquartered in Chicago, United States. Founded in 1998, Hub International operates primarily in the Insurance Brokers industry. With approximately 13,000 employees, Hub International provides a wide range of insurance products and services to clients across North America. The company's revenue is estimated to be around 4.2 billion dollars. Hub International values customer satisfaction and strives to deliver personalized insurance solutions tailored to meet the unique needs of each client. Through its extensive network of insurance brokers, Hub International aims to provide comprehensive risk management solutions and help individuals and businesses protect their assets and mitigate potential risks.
#4 Arthur J. Gallagher & Co.
![Arthur J. Gallagher & Co.](https://media.ngrk.us/data/content-datantify-com/website/3116_3318-www-ajg-com.webp)
Employees: 32K
Revenue: 4.7B$
Website: https://www.ajg.com
Description: Arthur J. Gallagher & Co. is a leading insurance brokerage firm headquartered in Rolling Meadows, United States. With a history dating back to 1927, the company has established itself as a prominent player in the insurance brokers industry. Employing approximately 32,000 professionals worldwide, Arthur J. Gallagher & Co. offers a wide range of insurance brokerage services, assisting clients in finding suitable coverage for their specific needs. The company's annual revenue stands at 4.7 billion dollars, reflecting its strong position in the market. By leveraging its expertise and global reach, Arthur J. Gallagher & Co. continues to provide innovative insurance solutions to individuals, businesses, and organizations across the globe.
#3 Willis Towers Watson Plc
![Willis Towers Watson Plc](https://media.ngrk.us/data/content-datantify-com/website/3120_3320-www-willistowerswatson-com-.webp)
Employees: 45K
Revenue: 9.2B$
Website: https://www.willistowerswatson.com/
Description: Willis Towers Watson Plc is a global insurance brokerage and advisory company headquartered in London, United Kingdom. With a history dating back to 1828, the company has established itself as a leading player in the insurance brokers industry. Willis Towers Watson operates in various segments of the insurance market, providing risk management, insurance brokerage, and consulting services to clients worldwide. The company boasts a workforce of approximately 45,000 employees, who leverage their expertise and industry knowledge to deliver innovative solutions tailored to meet the specific needs of their clients. With a revenue of 9.2 billion dollars, Willis Towers Watson continues to be a trusted partner for businesses seeking comprehensive insurance solutions and risk management strategies.
#2 Aon Plc
![Aon Plc](https://media.ngrk.us/data/content-datantify-com/website/1716_1472-www-aon-com.webp)
Employees: 50K
Revenue: 10B$
Website: https://www.aon.com
Description: Aon Plc is a leading global insurance broker headquartered in London, United Kingdom. With a history dating back to 1919, the company has established itself as a key player in the insurance industry. Aon operates in the Insurance Brokers sector, providing a wide range of insurance brokerage services to clients worldwide. The company boasts a large workforce of approximately 50,000 employees, who are dedicated to delivering innovative and tailored insurance solutions to meet the diverse needs of their clients. Aon's annual revenue stands at around 10 billion dollars, solidifying its position as a major player in the industry. Through its extensive network and expertise, Aon continues to provide trusted insurance advice and risk management solutions to its global clientele.
#1 Marsh & McLennan Companies, Inc.
![Marsh & McLennan Companies, Inc.](https://media.ngrk.us/data/content-datantify-com/website/3109_3310-www-mmc-com-.webp)
Employees: 76K
Revenue: 17.4B$
Website: https://www.mmc.com/
Description: Marsh & McLennan Companies, Inc. is a leading insurance broker operating in the Insurance - Insurance Brokers industry. Headquartered in New York, United States, the company was founded in 1871. With a workforce of approximately 76,000 employees, Marsh & McLennan Companies generates an annual revenue of 17.4 billion dollars. The company offers a wide range of insurance brokerage services, including risk management, insurance consulting, and employee benefits. Marsh & McLennan Companies serves clients across various sectors, helping them navigate the complexities of the insurance market and providing tailored solutions to meet their specific needs.
Summary
The analysis of the top companies in the insurance brokers sub-industry reveals some interesting findings. The rankings are based on various factors such as revenue, market share, and customer satisfaction. The top companies in this sub-industry include Aon, Marsh & McLennan, Willis Towers Watson, Arthur J. Gallagher, and Brown & Brown.
One unexpected finding is that these top companies have been able to maintain their market dominance despite increasing competition from insurtech startups. This highlights the importance of their established reputation, deep industry knowledge, and strong relationships with insurance carriers.
Aon is a premier company in the insurance brokers sub-industry. With a global presence and a diverse portfolio of insurance solutions, Aon has consistently ranked among the top companies in this sector. Marsh & McLennan is another notable player, offering risk management and insurance brokerage services to clients worldwide. Willis Towers Watson is renowned for its expertise in employee benefits and human capital consulting.
One key element that drives the prosperity of these leading firms is their ability to provide tailored insurance solutions to meet the unique needs of their clients. They invest in cutting-edge technology and analytics to assess risk and develop comprehensive insurance strategies. Additionally, these companies have developed extensive networks and partnerships with insurance carriers, allowing them to negotiate favorable terms and pricing for their clients.
What sets these eminent companies apart from their industry rivals is their commitment to delivering exceptional customer service. They prioritize building long-term relationships with their clients and providing personalized support throughout the insurance process. Moreover, their deep industry expertise and understanding of market trends enable them to offer innovative and forward-thinking insurance solutions.