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.

Reasons to buy the Insurance Broker market report:

  • Get a comprehensive understanding of the insurance broker market around the world.
  • Access historical values for the global and regional insurance brokers for the report’s review period and projected figures for the forecast period.
  • Obtain a detailed analysis of the regional insurance brokers and market forecasts for 2028.
  • Explore key market trends in the global insurance brokers market.
  • Study the rankings, premiums, and market share of top global and regional insurers brokers and analyze the competitive landscape.

How is our Insurance Broker report unique from other reports in the market?

  • 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 to gain an edge.
  • Understand the key dynamics, trends, and growth opportunities in the global and regional insurance brokers’ market.
  • Identify key regulatory developments impacting market growth.

We recommend this valuable source of information to anyone involved in:

  • ​Insurance Companies and Start-Ups
  • Brokers/Agents, Financial Advisors; Underwriters/Insurers/Reinsurers
  • Insight Managers/Marketing Executives/Strategy Teams/ Investment Analysts and Portfolio Managers
  • Business Development and Market Intelligence
  • Professional Services – Investment Banks, PE/VC firms
  • M&A/Investment, Management Consultants and Consulting Firms

To Get a Snapshot of the Insurance Broker Market Report

Download a Free Report Sample

Insurance Broker Market 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)

Insurance Broker Market Outlook, 2024-2028 ($ Billion)

Buy the Full Report to Know More about the Insurance Broker Market Report Forecast

Download a Free Report Sample

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

Download a Free Report Sample

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 (%)

Insurance Broker Market Analysis by Regions, 2023 (%)

Buy the Full Report for More Regional Insights into the Insurance Broker Market

Download a Free Report Sample

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 (%)

Insurance Brokers Market Analysis by Players, 2022 (%)

Buy the Full Report for More Player Insights into the Insurance Brokers Market

Download a Free Report Sample

Segments Covered in the Report

Insurance Brokers Regional Outlook (Value, $ Billion, 2019-2028)

  • Americas
  • Europe
  • Asia-Pacific
  • Middle East and Africa

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.

Marsh McLennan
Aon
WTW
Gallagher
Hub International
Brown & Brown
Howden Group
Edgewood Partners Insurance Center
NFP

Table of Contents

Executive Summary

Key Market Trends

Key Regulatory Trends

Global Overview

Competitive Landscape

Company Profiles

Asia-Pacific

Europe

Middle East and Africa

Americas

Company Profiles

Appendix

Frequently asked questions

Insurance Broker Market Size and Analysis by Region, Regulatory Trends, Competitive Landscape and Forecast to 2028 standard reports
Currency USD
$3,999

Can be used by individual purchaser only

$11,997

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

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.

Below is a sample report to understand what you are buying

See what our customers are saying
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS

Related reports

View more Insurance reports
Financial Services
New
France Life Insurance Market Size and Trends by Line of…
$3,999 | June 2024
Financial Services
New
Wealth Management Trends and Themes in 2024
$5,250 | May 2024
Financial Services
New
Peru Insurance Industry - Key Trends and Opportunities to 2028
$1,450 | May 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Insurance Broker Market Size and Analysis by Region, Regulatory Trends, Competitive Landscape and Forecast to 2028 in real time.

  • Access a live Insurance Broker Market Size and Analysis by Region, Regulatory Trends, Competitive Landscape and Forecast to 2028 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.