Leading insurance brokers by revenue U.S. | Statista (2024)

FAQs

Leading insurance brokers by revenue U.S. | Statista? ›

Based on 2023 brokerage revenues from U.S. clients, the largest insurance broker in the United States is Marsh & McLennan Cos Inc. At this time, the New York-based professional services firm reported revenues from U.S. insurance broking of over 10 billion U.S. dollars.

They have two main revenue streams: Commissions: This is the primary way most insurance brokers earn money. When a client purchases or renews an insurance policy, brokers receive a commission from the insurance company. The amount is a percentage of the policy's premium.

TOP INSURANCE BROKERS

#5: Hub International Ltd. #7: Brown & Brown Inc. #8: Truist Insurance Holdings Inc. #9: Alliant Insurance Services Inc.

As your advocate, Aon works for you, not the insurance companies. We're Canada's largest insurance broker, and we use our size and influence to your advantage by leveraging our access to the widest range of competitive products and insurance partners.

Based on 2023 brokerage revenues from U.S. clients, the largest insurance broker in the United States is Marsh & McLennan Cos Inc.

The big four brokerage firms in the U.S. are Charles Schwab, Fidelity Investments, E*TRADE, and Vanguard. That's based on the sizes of their customer numbers and assets under management.

An insurance broker makes money off commissions from selling insurance to individuals or businesses. Most commissions are 2% to 8% of premiums, depending on state regulations. Brokers sell all insurance types, including health insurance, homeowners insurance, accident insurance, life insurance, and annuities.

Taking these factors into consideration, most insurance agency owners operate with an average profit margin between 2 percent and 10 percent. Agency owners are advised to consult with an accountant or tax advisor when trying to structure your specific agency.

Who are the big three global insurance brokers? ›

The largest brokerage firms are household names: Vanguard, Charles Schwab, Fidelity, Bank of America (specifically Merrill Lynch), and J.P. Morgan each manage trillions of assets and millions of accounts. Vanguard alone has $8.2 trillion assets under management (AUM) as of July 31, 2023.

Warren Buffett's position in Aon plc. is currently worth $1.25 Billion. That's 0.37% of their equity portfolio (19th largest holding). The investor owns 2.03% of the outstanding Aon plc. stock.

Marsh is the world's leading insurance broker and risk advisor. We protect and promote possibility – helping our clients dream bigger, reach further, and plan for the opportunities ahead.

Aon main competitors are Deloitte, Watson Wyatt, and Milliman. Competitor Summary. See how Aon compares to its main competitors: Deloitte has the most employees (334,800).

@gmail.com. Gideon du Plessis failed in the 10th standard and never went to college. He is today the highest earning insurance agent in the world, with annual commissions amounting to Rs 7 crore (Rs 70 million) plus. A record he has maintained over the last 12-14 years, selling 700 policies yearly.

1. State Farm. State Farm is the industry's biggest player, both in the US and overseas. The Bloomington, Illinois-based P&C insurance giant wrote almost $78 billion worth of premiums in the past year.