Building Your Business Business Insurance 15 Largest Insurance Brokerages in the World Large brokers provide many services besides insurance placement By Marianne Bonner Updated on December 30, 2022 Reviewed by Khadija Khartit Reviewed by Khadija Khartit Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech and strategic finance in top universities. She has been an investor, entrepreneur, and advisor for more than 25 years. She is a FINRA Series 7, 63, and 66 license holder. learn about our financial review board Fact checked by David Rubin In This Article View All In This Article The Top 15 Insurance Intermediaries Broad Range of Services Recent Acquisitions Frequently Asked Questions (FAQs) Photo: Marko Geber / Getty Images The world's 15 largest insurance brokerages appear in the table below. The rankings are derived from revenue generated in 2021. The data and rankings were published by A.M. Best, a credit rating company that issues reports on the financial stability of insurers. Key Takeaways The largest insurance brokerage by revenue is Marsh McLennan.Combined, the top 15 largest insurance brokerages earned more than $75 billion in revenue in 2021.Large brokerages provide a wider range of services than smaller brokerage firms. The Top 15 Here are the 15 largest insurance brokerages listed in descending order based on 2021 revenue. 1. Marsh & McLennan Cos., Inc.Revenue: $19.8 billionHeadquarters1166 Avenue of the AmericasNew York City, NY 10036Tel.: (212) 345-5000Website: https://www.mmc.com2. Aon plcRevenue: $12.2 billionHeadquartersThe Aon CentreThe Leadenhall Building122 Leadenhall St.London, England EC3V 4ANTel.: +44 (0)20 7623 5500Fax: +44 (0)20 7621 1511Website: http://www.aon.com3. WTWRevenue: $9 billionHeadquartersThe Willis Building51 Lime St.London, England EC3M 7DQTel.: +44 (0) 203 124 6000Website: https://www.wtwco.com4. Arthur J. Gallagher & Co.Revenue: $6.9 billionHeadquarters2850 Golf RoadRolling Meadows, IL 60008Tel.: (630) 773-3800Website: https://www.ajg.com 5. HUB InternationalRevenue: $3.23 billionHeadquarters150 N. Riverside Plaza 17th FloorChicago, IL 60606Tel.: (800) 432-2558Website: https://hubinternational.com 6. Brown & Brown, Inc.Revenue: $3.05 billionHeadquarters300 N Beach St.Daytona Beach, FL 32115Tel.:(386) 252-9601Website: http://www.bbinsurance.com 7. Acrisure, LLCRevenue: $2.97 billionHeadquarters100 Ottawa Avenue SWGrand Rapids, MI, 49503Website: https://acrisure.com 8. Alliant Insurance Services, Inc.Revenue: $2.9 billionHeadquarters18100 Von Karman Avenue10th FloorIrvine, CA 92612Tel.: (925) 378-6819Website: http://www.alliant.com 9. Truist Insurance Holdings Inc.Revenue: $2.88 billionHeadquartersTruist Center, 214 N Tryon StreetCharlotte, NC 28202-0026Tel.: (844) 487-8478Website: https://www.bbt.com 10. Lockton Inc.Revenue: $2.8 billionHeadquarters444 West 47th St., Suite 900Kansas City, MO 64112Tel.: (816) 960 9000Website: https://lockton.com 11. USI Insurance Services LLCRevenue: $2.3 billionHeadquarters100 Summit Lake Drive, Suite 400Valhalla, NY 10595Tel. (914) 749-8500Website: https://usi.com 12. AssuredPartners Inc.Revenue: $2.04 billionHeadquarters450 S Orange Ave., 4th FloorOrlando, FL, 32801Website: http://www.assuredpartners.com 13. NFP Corp.Revenue: $1.9 billionHeadquarters340 Madison Avenue, 20th FloorNew York, NY 10173Website: http://www.nfp.com 14. Amwins Group Inc.Revenue: $1.8 billionHeadquarters4725 Piedmont Row Dr #600Charlotte, NC 28210Tel.: (704) 749-2700Website: https://www.amwins.com 15. Howden Group HoldingsRevenue: $1.57 billionHeadquarters1 Creechurch Place,London, England EC3A 5AFTel.: 020-7398-4888Website: https://www.howdengroupholdings.com Insurance Intermediaries Insurance brokers act as intermediaries between insurance companies and insurance buyers. While they perform many of the same functions as insurance agents, they differ from agents in that they act in the interest of insurance buyers. Agents sell policies under contractual agreements with the insurance companies they represent. Note A binder issued by a broker will not become valid (and no coverage will be initiated) until the document is signed by an authorized representative of the insurer. Unlike agents, brokers have no authority to bind insurance coverage or issue policies. To initiate coverage on a client's behalf, a broker can ask an underwriter at the insurer to issue an insurance binder. Alternatively, the broker can issue the binder and then request a signature from an underwriter. A binder issued by a broker will not become valid (and no coverage will be initiated) until the document is signed by an authorized representative of the insurer. Broad Range of Services Large brokers provide a broad range of services. While the specific services provided vary from broker to broker, many offer the following: Risk management services Loss control services Claims management services Private client services (personal coverages for wealthy individuals) Data and analytics (such as loss forecasting and benchmarking) Employee benefits International insurance, such as foreign workers compensation coverage Captives and other forms of alternative risk transfer Affinity programs (insurance programs designed for groups, such as franchises) Mergers and acquisitions (help facilitate transactions and manage risks) Terrorism and political risk (help manage risks and secure insurance) Marsh, Aon, WTW, Gallagher, and several other brokerages on the Top 15 list operate globally. Aon, WTW, and Howden are based in London while the other companies are headquartered in the U.S. Many maintain branch offices in foreign countries. Examples are Marsh, AON, and Willis. Others, such as USI, operate mainly in the United States. Note Many brokers on the list are public companies listed on the New York Stock Exchange and NASDAQ, including the top four entries, while others are private companies. Recent Acquisitions Since 2017, several notable acquisitions have occurred in the insurance brokerage industry. One of the largest took place in December of 2017, when USI Holdings acquired various insurance operations from Wells Fargo Insurance Services. USI purchased Wells Fargo's commercial insurance brokerage and consulting, employee benefits, and property/casualty national practices. Note USI also obtained the small business insurance and student insurance units, and a program administrator called Safehold Special Risk. In April of 2019, Marsh completed its acquisition of Jardine Insurance Brokers, a multinational brokerage based in London. According to Mercer, a subsidiary of Marsh's parent company, the new combined firm will have operations in more than 130 countries. Frequently Asked Questions (FAQs) Who is the largest insurance broker? The largest insurance broker by revenue is Marsh McLennan. It earned $19.8 billion in revenue in 2021. Who is the biggest insurance broker in the U.S.? Marsh McLennan is the biggest insurance broker in the U.S. by revenue. It is headquartered in New York City. What are the big 3 insurance companies? The three biggest insurance companies by revenue are Marsh McLennan ($19.8 billion), Aon ($12.2 billion), and WTW ($9 billion). Was this page helpful? Thanks for your feedback! Tell us why! Other Submit Sources The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. AM Best. "Top Global Insurance Brokers — 2022 Edition." USI. "USI in the News." Mercer. "Marsh & McLennan Completes Acquisition of Jardine Lloyd Thompson."