Insurance Brokerage Market Size Analysis and Top Companies
The global insurance brokerage market size is estimated to hit around USD 693.89 billion by 2033, increasing from USD 287.52 billion in 2023 with a CAGR of 9.21% from 2023 to 2033. The top companies operating in the insurance brokerage market are Marsh & McLennan Companies, Inc., Aon plc, Willis Towers Watson, Arthur J. Gallagher & Co., Brown & Brown, Inc., Lockton Companies, Alliant Insurance Services, HUB International Limited, Edgewood Partners Insurance Center (EPIC), USI Insurance Services, and Others.
Market Report Coverage
| Report Coverage |
Details |
| Market Size by 2033 |
USD 693.89 Billion |
| Market Size in 2023 |
USD 287.52 Billion |
| Market Growth Rate from 2023 to 2033 |
CAGR of 9.21% |
| Largest Market |
North America |
| Base Year |
2023 |
| Forecast Period |
2023 to 2033 |
| Segments Covered |
Insurance, Brokerage, End Use, and Regions |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America and Middle East, & Africa |
Insurance Brokerage Key Players
- Marsh & McLennan Companies, Inc.
- Aon plc
- Willis Towers Watson
- Arthur J. Gallagher & Co.
- Brown & Brown, Inc.
- Lockton Companies
- Alliant Insurance Services
- HUB International Limited
- Edgewood Partners Insurance Center (EPIC)
- USI Insurance Services
Recent Developments
- In October 2024, Banbo Insurance Brokers initiated a 360 Auto-Health campaign aimed at improving vehicle safety. This project seeks to inform car owners of the significance of having appropriate car insurance and taking good care of their vehicles.
- In August 2024, Contact Insurance Brokerage released a new mobile app aimed at improving insurance policy management and simplifying customer engagements. This new application offers users various tools to help them handle current and past insurance policies more easily, permitting clients to view their data by entering their national identification numbers.
- In May 2024, Riskbirbal Insurance Brokers released the Wellconnect platform to simplify healthcare and insurance management for its users. This advanced platform combines cutting-edge technology and data-driven insights to make it easier to navigate the complexities of health insurance services.
- In December 2023, Aon partnered with the PGA TOUR, as was announced. This top international professional services company leverages real-time analytics and takes advantage of the revamped 2024 TOUR schedule to generate more excitement and knowledge.
- In September 2022, Acrisure, an international insurance broker, revealed the purchase of CRK Commercial Insurance Services Limited, a specialist provider of commercial schemes. After the purchase is finalized, Acrisure will maintain CRK as a separate entity within Acrisure UK Retail and keep the CRK brand.
We have prepared a service to support you. please feel free to contact us at sales@precedenceresearch.com | +1 804 441 9344
