Insurance Broker Market Size and Analysis by Region, Regulatory Trends, Competitive Landscape and Forecast to 2028
Powered by 
All the vital news, analysis, and commentary curated by our industry experts.
Insurance Broker Market Report Overview
Brokers’ written premiums are estimated to be $1,341.2 billion in 2024. The growing complexity of risks and disruptions and the launch of data-driven products and services leveraging innovative technologies will promote the brokers’ written premium growth at a CAGR of more than 7% during 2024-2028. Currently, brokers actively incorporate environmental, social, and governance (ESG) principles into their businesses to cater to clients. Brokers such as Marsh, WTW, Truist Insurance Holdings, and Gallagher have committed to net-zero carbon/greenhouse gas emissions by 2050.
Insurance Broker Market Outlook, 2024-2028 ($ Billion)
Buy the Full Report to Know More about the Insurance Broker Market Report Forecast
The insurance broker market research report provides in-depth market analysis, information, and insights into the global and regional insurance brokers along with key lines of business, key trends, drivers, challenges, regulatory overview, and developments in the industry. It provides values for key performance indicators such as written premiums and claims during the review period and forecast period. The report is a source of information on the key technological developments impacting global insurance brokers. It analyzes the competitive landscape, overview, and comparative analysis of leading companies and top insurance markets’ premium and profitability trends for every region. The report also brings together GlobalData’s research, modeling, and analysis expertise, giving insurers access to information on Insurance brokers in the country.
| Insurance Written Premium (2024) | $1341.2 billion |
| CAGR (2024-2028) | >7% |
| Historical Period | 2019-2023 |
| Forecast Period | 2024-2028 |
| Key Regions | · Americas
· Europe · Asia-Pacific · Middle East and Africa |
| Leading Players | • Marsh McLennan
• Aon • WTW • Gallagher • Hub International |
| Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Insurance Broker Key Market and Regulatory Trends
- Brokers are embracing the changing digital landscape, including technologies such as artificial intelligence (AI), machine learning, the Internet of Things, and intelligent automation, to provide enhanced personalized offers and recommendations. Leading brokers such as Marsh McLennan, Aon, WTW, and Gallagher are introducing various digital tools to optimize processes and reduce costs.
- Enhanced market conduct standards are one of the key regulatory trends. Regulatory authorities are issuing new updated guidelines for the licensing of (re)insurance brokers. For instance, on February 29, 2024, Bank Negara Malaysia (Malaysia’s central bank) issued an Exposure Draft introducing new and enhanced disclosure requirements. These requirements are designed to ensure that product disclosures continue to aid consumers in evaluating the suitability of products and making informed financial decisions.
Buy the Full Report to Know More about the Market and Regulatory Trends of Insurance Brokers
Insurance Broker Market Analysis by Regions
The regional distribution of brokers’ written premiums includes the Americas, Europe, the Asia-Pacific, and the Middle East and Africa. Americas accounted for the highest share of the written premium generated by brokers in 2023. In the US, the largest global insurance industry, brokers accounted for an estimated 89% of life insurance premiums and 46% of general insurance premiums in 2023.
Insurance Broker Market Analysis by Regions, 2023 (%)
Buy the Full Report for More Regional Insights into the Insurance Broker Market
Insurance Brokers - Competitive Landscape
Marsh McLennan had the highest brokerage revenue in 2022
A few of the top insurance brokers in the market are:
- Marsh McLennan
- Aon
- WTW
- Gallagher
- Hub International
Marsh McLennan: Marsh aims to become carbon neutral across its business by 2050 and runs carbon credit payments to promote and reward clients. Additionally, it plans to expand digital trading across its UK specialty and international placement businesses. In February 2023, Marsh announced the next phase of its digital trading initiative for risks placed in the London insurance market.
Insurance Brokers Market Analysis by Players, 2022 (%)
Buy the Full Report for More Player Insights into the Insurance Brokers Market
Segments Covered in the Report
Insurance Brokers Regional Outlook (Value, $ Billion, 2019-2028)
- Americas
- Europe
- Asia-Pacific
- Middle East and Africa
Scope
This report provides:
- A comprehensive analysis of the global insurance brokers.
- Historical values for the global and regional insurance brokers for the report’s review period and projected figures for the forecast period.
- A detailed analysis of the regional insurance brokers and market forecasts for 2028.
- Key market trends in the global insurance brokers market.
- Rankings, premiums, and market share of top global and regional insurers brokers and analyzes the competitive landscape.
Key Highlights
- Key insights and dynamics of the insurance brokers.
- Insights on key market trends in the insurance brokers.
- Insights on key growth and profitability challenges in the insurance brokers.
- Comparative analysis of leading insurance brokers.
- In-depth analysis of regional markets.
- Insight on the future growth trend and market outlook.
Reasons to Buy
- Make strategic business decisions using in-depth historical and forecast market data related to the global and regional insurance brokers.
- `Gain in-depth market analysis, information, and insights into the global insurance brokers’ market.
- Analyze the competitive landscape and top 20 regional markets.
- Understand the key dynamics, trends, and growth opportunities in the global and regional insurance brokers’ market.
- Identify key regulatory developments impacting market growth.
- Identify growth opportunities in key regional markets.
Aon
WTW
Gallagher
Hub International
Brown & Brown
Howden Group
Edgewood Partners Insurance Center
NFP
Table of Contents
Frequently asked questions
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.
Sample Report
Insurance Broker Market Size and Analysis by Region, Regulatory Trends, Competitive Landscape and Forecast to 2028 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:
- Assess the relevance of the report
- Evaluate the quality of the report
- Justify the cost
Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.
Related reports
View more Insurance reports
