Global brokerage market revenue 2023

Insuramore, a provider of insurance-focused marketing services, has published a report on the performance of the global insurance and reinsurance brokerage market for the year 2023.

The report shows that commissions and benefits totaled 168 billion USD, up by 11.3% on the 151 billion USD recorded in 2022.

The sector's turnover is broken down into the following segments:

• 76.6 billion USD for commercial risk and property-casualty brokerage
• 16.5 billion USD for non-life P&C brokerage
• 54.5 billion USD for life and health risks
• 7.4 billion USD for the reinsurance business
• 13 billion USD for corporate group policies

Marsh McLennan maintains its position as market leader, followed by Aon, Gallagher, WTW and HUB (Hellman & Friedman).

According to the study, 140 of the world's top 300 groups are based in the USA, 26 in France, 26 in the UK, 16 in Canada and 15 in China.