| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 70.58 Billion |
| Market Size (2030) | USD 85.70 Billion |
| CAGR (2025 - 2030) | 3.96 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
United States Insurance Brokerage Market Analysis
The United States Insurance Brokerage Market size is estimated at USD 70.58 billion in 2025, and is expected to reach USD 85.70 billion by 2030, at a CAGR of 3.96% during the forecast period (2025-2030).
The United States insurance brokerage market is growing at a steady rate. Insurance brokerage is a type of activity currently serving about 80% of insurance operations in developed economies. An insurance broker deals with the client to understand their need and negotiate deals with the insurance company on behalf of the client. The pandemic is pressing insurance companies to respond urgently to megatrends such as climate change and digitalization. In addition to this, various government initiatives regarding insurance policies present a significant opportunity for the growth of the insurance brokerage market.
Insurance broker includes individuals or businesses that work for their client's benefit. Brokers are said to be the primary distribution channel for retail and commercial insurance in non-life and group life sectors. Insurance brokerage institutions have adopted various strategies, such as mergers and acquisitions, to gain a competitive advantage over their rivals. In addition, the expansion due to the presence of digital brokers and the integration of IT & analytic solutions are the major driving factors for the insurance brokerage market.
United States Insurance Brokerage Market Trends
Increasing Merger & Acquisition Deals in Insurance Brokerage Market
Merger and acquisition activities in the insurance industry have increased in the past few years. The M&A activity has been profitable for the insurance broker and insurance companies as it helps them capture more market share. This is an attempt to help the brokerage company to safeguard its future enterprise value. The merger and acquisition in the industry has witnessed a dip in recent years as compared to the previous year but is expected to show a steady rise in the forecasted period.
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Increasing Digitalization is Driving the Insurance Brokerage Market
Digitalization in insurance and other sectors is growing due to various factors, such as the growing adoption of AI and online platforms. The insurance industry is dependent on human agents, but due to the pandemic, the companies are unable to visit clients physically. Insurance companies have started digital platforms, which are changing the way customers interact and the way businesses operate. These factors are influencing the digital adoption by many insurance brokers and companies in the period. This adoption has made the revenue rise for insurance brokerage in the United States.
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United States Insurance Brokerage Industry Overview
The insurance brokerage market is moderately fragmented, with the presence of many players. The market presents opportunities for growth during the forecasted period which is expected to further drive market competition. The competitive landscape shows all the strategies, such as acquisitions and mergers, done by players to have the largest market share in the United States. The key players in the market include Marsh & McLennan Companies Inc., Aon Plc., Willis Tower Watson Plc., Arthur J. Gallagher & Co., and Brown & Brown, Inc.
United States Insurance Brokerage Market Leaders
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Marsh & Mclennan Companies Inc.
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Aon Plc.
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Willis Tower Watson Plc.
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Arthur J. Gallagher & Co.
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Brown & Brown, Inc.
- *Disclaimer: Major Players sorted in no particular order
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United States Insurance Brokerage Market News
- June 2023: Marsh McLennan Agency, a subsidiary of Marsh, announced the acquisition of SOLV Risk Solutions, LLC, a leading independent agency based in Austin, Texas.
- March 2022: Aon Plc. announced it had acquired the actuarial software platform Tyche from technology and software firm RPC Tyche. This acquisition will help the company to expand better cater to its clients.
United States Insurance Brokerage Industry Segmentation
An insurance broker is a person or firm that works for a client to sell and negotiate various insurance products. The report includes a detailed note on the importance of insurance brokers in the United States across various insurance products. The United States insurance brokerage market is segmented by insurance type and by brokerage type. By insurance type, the market is further segmented into life insurance and property & casualty insurance. By brokerage type, the market is further segmented into retail brokerage & wholesale brokerage. The report offers market size and forecasts for the United States insurance brokerage market in value (USD) for all the above segments.
| By Insurance Type | Life Insurance |
| Property & Casualty Insurance | |
| By Brokerage Type | Retail Brokerage |
| Wholesale Brokerage |
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United States Insurance Brokerage Market Research FAQs
How big is the United States Insurance Brokerage Market?
The United States Insurance Brokerage Market size is expected to reach USD 70.58 billion in 2025 and grow at a CAGR of 3.96% to reach USD 85.70 billion by 2030.
What is the current United States Insurance Brokerage Market size?
In 2025, the United States Insurance Brokerage Market size is expected to reach USD 70.58 billion.
Who are the key players in United States Insurance Brokerage Market?
Marsh & Mclennan Companies Inc., Aon Plc., Willis Tower Watson Plc., Arthur J. Gallagher & Co. and Brown & Brown, Inc. are the major companies operating in the United States Insurance Brokerage Market.
What years does this United States Insurance Brokerage Market cover, and what was the market size in 2024?
In 2024, the United States Insurance Brokerage Market size was estimated at USD 67.79 billion. The report covers the United States Insurance Brokerage Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the United States Insurance Brokerage Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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United States Insurance Brokerage Industry Report
Statistics for the 2025 United States Insurance Brokerage market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Insurance Brokerage analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
