Insurance Brokers & Agents Market Report 2026

The insurance brokers & agents market size has grown strongly in recent years. It will grow from $496.31 billion in 2025 to $526.82 billion in 2026 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to growth of agency-based insurance sales, expansion of bancassurance networks, rising insurance awareness among consumers, increasing diversification of insurance products, strengthening regulatory oversight.

The insurance brokers & agents market size is expected to see strong growth in the next few years. It will grow to $679.6 billion in 2030 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increasing digital transformation of intermediary operations, rising adoption of automated onboarding tools, growing demand for personalized insurance offerings, expansion of platform-based insurance sales, increasing focus on regulatory technology integration. Major trends in the forecast period include increasing integration of omnichannel distribution models, rising adoption of online insurance platforms, growing use of data analytics for client matching, expansion of bancassurance and hybrid intermediary models, enhanced focus on compliance and transparency.

The rising demand for insurance policies is expected to drive the growth of the insurance broker and agent market in the coming years. Insurance policies are agreements between an individual or entity (the policyholder) and an insurance company. These policies represent the primary products offered by insurance brokers and agents, and their efficient sale and management support financial performance, customer satisfaction, and professional recognition within the industry. For example, in September 2025, according to the United States Census Bureau, a US-based government agency, private insurance coverage rates increased from 61.2 percent and 73.1 percent in 2023 to 63 percent for children under the age of 19 and 74 percent for adults aged 19 to 64 in 2024. Therefore, the growing demand for insurance policies is fueling the expansion of the insurance broker and agent market.

Major companies in the insurance brokers and agents market are teaming up to boost agency growth by optimizing workflows for member commercial insurance agents. This strategic partnership emphasizes the automation of routine processes to minimize manual tasks such as data entry and document management. For example, in June 2024, Bold Penguin Inc., a US-based software company, collaborated with Darkhorse Insurance Services, a US-based insurance company, with the goal of enhancing the capabilities of commercial insurance agents. This partnership aims to provide advanced agency management tools that streamline operations for member agencies. It introduces Bold Penguin's digital solutions, particularly the Bold Penguin Terminal, a commercial insurance quoting platform. This tool simplifies the quoting process for Darkhorse member agencies, enabling them to operate more efficiently and accurately.

In December 2024, Arthur J. Gallagher & Co., a US-based insurance brokerage and risk management firm, acquired AssuredPartners Inc. for an undisclosed sum. Through this acquisition, Arthur J. Gallagher & Co. seeks to strengthen its position in the US insurance brokerage sector, expand its client portfolio, and enhance its offerings in specialty, commercial, and risk management solutions. AssuredPartners Inc. is a US-based insurance brokerage company that focuses on delivering property & casualty, employee benefits, and risk management services to businesses and organizations.

Major companies operating in the insurance brokers & agents market are Marsh & McLennan Cos Inc, Aon PLC, Arthur J Gallagher & Co, Willis Towers Watson PLC, Brown & Brown Inc., Truist Insurance Holdings Inc., Lockton Companies Inc, Acrisure LLC, USI Insurance Services LLC, HUB International Limited, Beacon Insurance Brokers Pvt. Ltd., Urjita Insurance Brokers Pvt. Ltd., Mahindra Insurance Brokers Limited, EFFICIENT Insurance Brokers Pvt. Ltd., VIBHUTI INSURANCE BROKERS PVT. LTD., UNISON Insurance Broking Services Pvt. Ltd., UIB Insurance Brokers Private Limited, MGA Insurance Brokers, Mega Capital, Roderick Insurance Brokers, Unity Insurance Brokers, Insurance Advisernet Australia, Fanhua Inc., Chang'an Insurance Brokers Co., Ltd., Mintaian Insurance Surveyors & Loss Adjusters Group Co., Ltd., Shenzhen Huakang Insurance Agency Co., Ltd., Union Insurance Broker Co., Ltd., JiangTai Insurance Broker Co. Ltd., Air Union Insurance Brokers Co. Ltd., Huatai Insurance Agency & Consultant Service Ltd., Willis Insurance Brokers Co. Ltd., Lloyd's of London Limited (UK), Funk Gruppe GmbH, Ecclesia Holding GmbH, Insurance Brokers LLC, MAI Insurance Brokers Poland Sp. z o.o., Meijers Assurantiën B.V., International Insurance Brokers s.r.o., Arthur J. Gallagher, Lockton Inc., Alliant Insurance Services, Inc., NFP Corp., Assured Partners Inc., CBIZ, Inc., Canadian Insurance Brokers Inc., iCare Insurance Brokers, ALIGNED Insurance Inc., Novamar Insurance Mexico, JAH Insurance Brokers Corp, THB MEXICO, Intermediario de Reaseguro, S.A. de C.V., TTMS Argentina S.A., 123Seguro, Insur Insurance Company S.A., SRC Brokers, Lockton Brasil Corretora de Seguros Ltda, Uai Brazil Insurance Broker, ALC Corretora de Seguros, Capital Shield Insurance Brokers L.L.C., Nexus Insurance Brokers LLC, Wehbe Insurance Services LLC, New Shield Insurance Brokers LLC, Unitrust Insurance Broker LLC, Gulf Oasis Insurance Brokers LLC, Earnest Insurance Brokers LLC, Al Noor Insurance Broker, Arab Orient Insurance Brokers, Lusail Insurance Brokers, Glenrand MIB Limited, Howden, Northlink Insurance Brokers, Carrier Insurance Brokers, Glanvills Enthoven, Union Commercial Insurance Broker.

North America was the largest region in the global insurance brokers & agents’ market, accounting for in 2025. Western Europe was the second largest region insurance brokers & agents’ market. The regions covered in the insurance brokers & agents market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the insurance brokers & agents market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The insurance brokers and agents’ market consist of sales of insurance products by entities and individuals that act as intermediaries (i.e., agents or brokers) in selling annuities and insurance policies. Insurance brokers and agents can be contracted with single or multiple insurance companies as they try to meet different client needs with available insurance products. This market excludes the direct selling of insurance products by insurance companies. The value of the market is based on the fees or commissions paid to brokers by the insured, both commercial and personal. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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