This report describes and explains the insurance brokers and agents market and covers 2020-2025, termed the historic period, and 2025-2030, 2035F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global insurance brokers and agents market reached a value of nearly $496.31 billion in 2025, having grown at a compound annual growth rate (CAGR) of 7.9% since 2020. The market is expected to grow from $496.31 billion in 2025 to $679.59 billion in 2030 at a rate of 6.5%. The market is then expected to grow at a CAGR of 6.4% from 2030 and reach $927.76 billion in 2035.
Growth in the historic period resulted from increased awareness of insurance benefits, rise in small and medium enterprises (SMEs), growth of property and casualty insurance and rise in financial literacy programs. Factors that negatively affected fraud and mis-selling risks and regulatory compliance burden and costs.
Going forward, Surging demand for insurance policies, rising need for claims assistance and risk management, rise in digital adoption and expansion of insurtech sector will drive the growth. Factor that could hinder the growth of the insurance brokers and agents market in the future include intense competition from direct insurer channels, client price sensitivity and disintermediation and impact of trade war and tariff.
The insurance brokers and agents market is segmented by type into insurance agencies, insurance brokers, bancassurance and other intermediaries. The bancassurance market was the largest segment of the insurance brokers and agents market segmented by type, accounting for 35.7% or $177.38 billion of the total in 2025. Going forward, the other intermediaries segment is expected to be the fastest-growing segment in the insurance brokers and agents market segmented by type, at a CAGR of 8.5% during 2025-2030.
The insurance brokers and agents market is segmented by mode into online and offline. The offline market was the largest segment of the insurance brokers and agents market segmented by mode, accounting for 60.8% or $301.71 billion of the total in 2025. Going forward, the online segment is expected to be the fastest-growing segment in the insurance brokers and agents market segmented by mode, at a CAGR of 7.6% during 2025-2030.
The insurance brokers and agents market is segmented by insurance into life insurance, property and casualty insurance and health and medical insurance. The health and medical insurance market was the largest segment of the insurance brokers and agents market segmented by insurance, accounting for 48.3% or $239.65 billion of the total in 2025. Going forward, the health and medical insurance segment is expected to be the fastest-growing segment in the insurance brokers and agents market segmented by insurance, at a CAGR of 7.2% during 2025-2030.
The insurance brokers and agents market is segmented by end user into corporate and individual. The individual market was the largest segment of the insurance brokers and agents market segmented by end user, accounting for 57.7% or $286.6 billion of the total in 2025. Going forward, the corporate segment is expected to be the fastest-growing segment in the insurance brokers and agents market segmented by end user, at a CAGR of 6.9% during 2025-2030.
North America was the largest region in the insurance brokers and agents market, accounting for 46.8% or $232.36 billion of the total in 2025. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the insurance brokers and agents market will be Middle East and Eastern Europe where growth will be at CAGRs of 11.6% and 7.1% respectively. These will be followed by Western Europe and North America where the markets are expected to grow at CAGRs of 6.8% and 6.4% respectively.
Market-trend-based strategies for the insurance brokers and agents market include focus on the growing emphasis on customer-centric advisory and value-added services, focus on the adoption of data-driven risk advisory and customized policy placement capabilities, enabling brokers to leverage advanced analytics and risk modelling tools, focus on the increasing digitization of insurance intermediary sales, policy issuance, and renewal processes and focus on automation platforms to strengthen their position in the market.
The global insurance brokers and agents market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 14% of the total market in 2024. Marsh & McLennan Companies was the largest competitor with a 4.19% share of the market, followed by Arthur J. Gallagher & Co. with 2.13%, Aon plc with 1.68%, Hub International Ltd. with 1.03%, Willis Towers Watson (WTW) with 0.78%, Alliant Insurance Services, Inc. with 0.75%, Acrisure LLC with 0.56%, USI Insurance Services LLC with 0.51%, Lockton Companies Inc with 0.51% and Brown & Brown Inc. with 0.13%.
The top opportunities in the insurance brokers and agents market segmented by type will arise in the insurance brokers segment, which will gain $57.46 billion of global annual sales by 2030. The top opportunities in the insurance brokers and agents market segmented by mode will arise in the offline segment, which will gain $96.96 billion of global annual sales by 2030. The top opportunities in the insurance brokers and agents market segmented by end user will arise in the individual segment, which will gain $100.6 billion of global annual sales by 2030. The top opportunities in the insurance brokers and agents market segmented by insurance will arise in the health and medical insurance segment, which will gain $99.9 billion of global annual sales by 2030. The insurance brokers and agents market size will gain the most in the USA at $77.22 billion.
Player-adopted strategies in the insurance brokers and agents market include focus on expanding its business capabilities through innovative product launch to expand its operational capabilities, focus on expanding its business capabilities through strategic acquisitions to expand its operational capabilities and focus on new launches to expand their business expertise.
To take advantage of the opportunities, the analyst recommends the insurance brokers and agents companies to focus on customer-centric advisory models supported by value-added digital services, focus on data-driven risk advisory and customized policy placement, focus on end-to-end digitization of intermediary sales and servicing workflows, focus on automation platforms to improve operational efficiency and revenue control, focus on accelerating online distribution to capture structural growth, focus on scaling other intermediaries to capture fastest growth, focus on scaling health and medical insurance advisory to capture sustained growth, expand in emerging markets, continue to focus on developed markets, focus on hybrid physical and digital distribution expansion, focus on transparent and performance-linked pricing, focus on trust-led visibility to drive lead quality, focus on referral and partner amplification to scale efficiently, focus on scaling corporate insurance advisory to drive higher-value growth.
This product will be delivered within 3-5 business days.
The global insurance brokers and agents market reached a value of nearly $496.31 billion in 2025, having grown at a compound annual growth rate (CAGR) of 7.9% since 2020. The market is expected to grow from $496.31 billion in 2025 to $679.59 billion in 2030 at a rate of 6.5%. The market is then expected to grow at a CAGR of 6.4% from 2030 and reach $927.76 billion in 2035.
Growth in the historic period resulted from increased awareness of insurance benefits, rise in small and medium enterprises (SMEs), growth of property and casualty insurance and rise in financial literacy programs. Factors that negatively affected fraud and mis-selling risks and regulatory compliance burden and costs.
Going forward, Surging demand for insurance policies, rising need for claims assistance and risk management, rise in digital adoption and expansion of insurtech sector will drive the growth. Factor that could hinder the growth of the insurance brokers and agents market in the future include intense competition from direct insurer channels, client price sensitivity and disintermediation and impact of trade war and tariff.
The insurance brokers and agents market is segmented by type into insurance agencies, insurance brokers, bancassurance and other intermediaries. The bancassurance market was the largest segment of the insurance brokers and agents market segmented by type, accounting for 35.7% or $177.38 billion of the total in 2025. Going forward, the other intermediaries segment is expected to be the fastest-growing segment in the insurance brokers and agents market segmented by type, at a CAGR of 8.5% during 2025-2030.
The insurance brokers and agents market is segmented by mode into online and offline. The offline market was the largest segment of the insurance brokers and agents market segmented by mode, accounting for 60.8% or $301.71 billion of the total in 2025. Going forward, the online segment is expected to be the fastest-growing segment in the insurance brokers and agents market segmented by mode, at a CAGR of 7.6% during 2025-2030.
The insurance brokers and agents market is segmented by insurance into life insurance, property and casualty insurance and health and medical insurance. The health and medical insurance market was the largest segment of the insurance brokers and agents market segmented by insurance, accounting for 48.3% or $239.65 billion of the total in 2025. Going forward, the health and medical insurance segment is expected to be the fastest-growing segment in the insurance brokers and agents market segmented by insurance, at a CAGR of 7.2% during 2025-2030.
The insurance brokers and agents market is segmented by end user into corporate and individual. The individual market was the largest segment of the insurance brokers and agents market segmented by end user, accounting for 57.7% or $286.6 billion of the total in 2025. Going forward, the corporate segment is expected to be the fastest-growing segment in the insurance brokers and agents market segmented by end user, at a CAGR of 6.9% during 2025-2030.
North America was the largest region in the insurance brokers and agents market, accounting for 46.8% or $232.36 billion of the total in 2025. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the insurance brokers and agents market will be Middle East and Eastern Europe where growth will be at CAGRs of 11.6% and 7.1% respectively. These will be followed by Western Europe and North America where the markets are expected to grow at CAGRs of 6.8% and 6.4% respectively.
Market-trend-based strategies for the insurance brokers and agents market include focus on the growing emphasis on customer-centric advisory and value-added services, focus on the adoption of data-driven risk advisory and customized policy placement capabilities, enabling brokers to leverage advanced analytics and risk modelling tools, focus on the increasing digitization of insurance intermediary sales, policy issuance, and renewal processes and focus on automation platforms to strengthen their position in the market.
The global insurance brokers and agents market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 14% of the total market in 2024. Marsh & McLennan Companies was the largest competitor with a 4.19% share of the market, followed by Arthur J. Gallagher & Co. with 2.13%, Aon plc with 1.68%, Hub International Ltd. with 1.03%, Willis Towers Watson (WTW) with 0.78%, Alliant Insurance Services, Inc. with 0.75%, Acrisure LLC with 0.56%, USI Insurance Services LLC with 0.51%, Lockton Companies Inc with 0.51% and Brown & Brown Inc. with 0.13%.
The top opportunities in the insurance brokers and agents market segmented by type will arise in the insurance brokers segment, which will gain $57.46 billion of global annual sales by 2030. The top opportunities in the insurance brokers and agents market segmented by mode will arise in the offline segment, which will gain $96.96 billion of global annual sales by 2030. The top opportunities in the insurance brokers and agents market segmented by end user will arise in the individual segment, which will gain $100.6 billion of global annual sales by 2030. The top opportunities in the insurance brokers and agents market segmented by insurance will arise in the health and medical insurance segment, which will gain $99.9 billion of global annual sales by 2030. The insurance brokers and agents market size will gain the most in the USA at $77.22 billion.
Player-adopted strategies in the insurance brokers and agents market include focus on expanding its business capabilities through innovative product launch to expand its operational capabilities, focus on expanding its business capabilities through strategic acquisitions to expand its operational capabilities and focus on new launches to expand their business expertise.
To take advantage of the opportunities, the analyst recommends the insurance brokers and agents companies to focus on customer-centric advisory models supported by value-added digital services, focus on data-driven risk advisory and customized policy placement, focus on end-to-end digitization of intermediary sales and servicing workflows, focus on automation platforms to improve operational efficiency and revenue control, focus on accelerating online distribution to capture structural growth, focus on scaling other intermediaries to capture fastest growth, focus on scaling health and medical insurance advisory to capture sustained growth, expand in emerging markets, continue to focus on developed markets, focus on hybrid physical and digital distribution expansion, focus on transparent and performance-linked pricing, focus on trust-led visibility to drive lead quality, focus on referral and partner amplification to scale efficiently, focus on scaling corporate insurance advisory to drive higher-value growth.
This product will be delivered within 3-5 business days.
Table of Contents
1 Executive Summary
6 Market Characteristics
8 Supply Chain Analysis
9 Customer Information
10 Major Market Trends
11 Insurance Brokers & Agents Market - Macro Economic Scenario
12 Global Market Size and Growth
13 Insurance Brokers & Agents Market, Regional Analysis
14 Global Insurance Brokers & Agents Market Segmentation
15 Market Comparison with Macro Economic Factors
16 Asia-Pacific Market
17 Western Europe Market
18 Eastern Europe Market
19 North America Market
20 South America Market
21 Middle East Market
22 Africa Market
23 Competitive Landscape and Company Profiles
24 Key Mergers and Acquisitions
25 Market Background: Insurance, Reinsurance and Insurance Brokerage Market
26 Opportunities and Strategies
27 Insurance Brokers and Agents Market, Conclusions and Recommendations
28 Appendix
Executive Summary
Insurance Brokers and Agents Global Market Opportunities and Strategies to 2035 provides the strategists; marketers and senior management with the critical information they need to assess the global insurance brokers and agents as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for insurance brokers and agents? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The insurance brokers and agents market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider insurance brokers and agents market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics: Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by mode, by end user and by insurance.
- Key Trends: Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis and Strategic Analysis Framework: Analysis on PESTEL, end use industries, market growth rate, global historic (2020-2025) and forecast (2025-2030, 2035F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Regional and Country Analysis: Historic (2020-2025) and forecast (2025-2030, 2035F) market values and growth and market share comparison by region and country.
- Market Segmentation: Contains the market values (2020-2025) (2025-2030, 2035F) and analysis for each segment by type, by mode, by end user and by insurance in the market. Historic (2020-2025) and forecast (2020-2025) and (2020-2025) market values and growth and market share comparison by region market.
- Regional Market Size and Growth: Regional market size (2025), historic (2020-2025) and forecast (2025-2030, 2035F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape: Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies: Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking: Briefs on the financials comparison between major players in the market.
- Competitive Dashboard: Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions: Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments: Information on recent developments in the market covered in the report
- Market Opportunities and Strategies Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations This section includes recommendations for insurance brokers and agents providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix: This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
1) By Type: Insurance Agencies; Insurance Brokers; Bancassurance; Other Intermediaries
2) By Mode: Online; Offline
3) By End User: Corporate; Individual
4) By Insurance: Life Insurance; Property and Casualty Insurance; Health and Medical Insurance
Companies Mentioned: Marsh & McLennan Companies; Arthur J. Gallagher & Co.; Aon plc; Hub International Ltd.; Willis Towers Watson (WTW)
Countries: China; India; Japan; Australia; Indonesia; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; South Korea; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; UK; Germany; France; Italy; Spain; Austria; Belgium; Denmark; Finland; Ireland; Netherlands; Norway; Portugal; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; insurance brokers and agents comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes’
Companies Mentioned
- Marsh & McLennan Companies
- Arthur J. Gallagher & Co.
- Aon plc
- Hub International Ltd.
- Willis Towers Watson (WTW)
- Alliant Insurance Services, Inc.
- Acrisure LLC
- USI Insurance Services LLC
- Lockton Companies Inc
- Brown & Brown Inc.
- Lead Insurance Service Co. Ltd.
- Kyoritsu Insurance Brokers of Japan Co., Ltd.
- MST Insurance Service Co., Ltd.
- Toyota Tsusho Insurance Management Corporation
- Fanhua Inc.
- Chang'an Insurance Brokers Co. Ltd.
- Shenzhen Huakang Insurance Agency Co. Ltd.
- Union Insurance Broker Co. Ltd.
- JiangTai Insurance Broker Co. Ltd.
- Aon-Cofco Insurance Brokers Co. Ltd.
- Marsh (China) Insurance Brokers Co. Ltd.
- Air Union Insurance Brokers Co. Ltd.
- Huatai Insurance Agency & Consultant Service Ltd.
- Willis Insurance Brokers Co. Ltd.
- BRM Korea Non-Life Insurance Broker Co. Ltd.
- ENC PLUS Insurance Brokers Co. Ltd.
- Marnix Reinsurance Brokers
- Miller Insurance Services LLP
- UIB Insurance Brokers Co. Limited
- APRIL Entreprise
- Jensten Group
- Funk Gruppe GmbH
- Ecclesia Holding GmbH
- Howden Insurance Brokers Nederland B.V.
- Meijers Assurantiën B.V.
- Aon Nederland
- Unilink S.A.
- Satum
- Brokerslink
- Malakut
- Insurance Brokers LLC
- MAI Insurance Brokers Poland Sp. z o.o.
- International Insurance Brokers s.r.o.
- Destine Broker de Asigurare
- Instrade Insurance Broker Ltd.
- HUNInsurance Biztosítási Alkusz Kft.
- World Insurance Association LLC
- SIB Corp.
- Westland Insurance Group
- Billyard Insurance Group
- Arthur J. Gallagher
- Truist Insurance Holdings Inc.
- Lockton Inc.
- NFP Corp.
- Assured Partners Inc.
- CBIZ, Inc.
- TTMS Argentina S.A.
- Insur Insurance Company S.A.
- SRC Brokers
- Lockton Brasil Corretora de Seguros Ltda
- Uai Brazil Insurance Broker
- ALC Corretora de Seguros
- Howden Peru Corredores de Seguros S.A.
- Consejeros y Corredores de Seguros S.A.
- 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
- Associated Insurance Consultants (AIC)
- Gulf Insurance Brokers Co. (GIB)
- Prime Insurance Brokers LLC
- Pacific Prime
- Marsh Emirates Insurance Brokers
- Glenrand MIB Limited
- Northlink Insurance Brokers
- Carrier Insurance Brokers
- Glanvills Enthoven
- Union Commercial Insurance Brokers
- GIB Africa Alliance
- Allied Africa Broker Network (AAB)
- Allied Insurance Brokers (AIB)
- African Insurance Brokers (AfInBro)
- Alliance Insurance Brokers
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 590 |
| Published | May 2026 |
| Forecast Period | 2025 - 2035 |
| Estimated Market Value ( USD | $ 496.31 Billion |
| Forecasted Market Value ( USD | $ 927.76 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 89 |
