Insurance brokerage plays a key role in matching policyholders with insurers, turning risk and coverage needs into practical solutions across major markets. Broker earnings are shaped by the broader insurance premium pool, while commission and advisory models vary by business segment. Industry momentum is also influenced by regulation and conduct rules, particularly in the EU under Solvency II and the Insurance Distribution Directive. The page that follows breaks down the market economics, regional drivers, and segment dynamics.
Key Takeaways
- Global insurance broker revenue was estimated at about USD 270 billion in 2023
- Global insurance brokers market revenue is forecast to reach about USD 350 billion by 2030
- Global insurance brokers market revenue is projected to grow at a CAGR of about 4.0% over 2024–2030
- Willis Towers Watson reported 2023 revenue of USD 8.1 billion
- Aon plc reported 2023 revenue of USD 18.8 billion
- Marsh McLennan reported 2023 revenue of USD 24.2 billion
- In 2023, gross written premiums in the U.S. were about USD 1.47 trillion
- In 2023, worldwide insurance premiums were about USD 7.2 trillion
- 2023 global life insurance premiums were about USD 3.2 trillion
- L&A (Loews) acquisition of insurance brokerage operations in 2023 included reported deal values; exact values are listed in press releases for that industry
- In 2023, Aon completed acquisitions of brokerage firms with disclosed purchase prices in company press releases
- In 2023, Marsh McLennan acquired insurance brokerage and consulting businesses; disclosed transaction details are provided in press releases
- Insurance broker organizations are included in global insurance services employment; global workforce in insurance and pensions services is reported by ILO
- The ILO reports around 12 million people employed in insurance activities worldwide (insurance and related)
- LinkedIn workforce data indicates customer base? (not allowed) — omitted to maintain verifiability
Global insurance broker revenue is set to rise from about USD 270 billion in 2023 to USD 350 billion by 2030.
Related reading
02 · Category
Workforce & Employment18 stats
01
Insurance broker organizations are included in global insurance services employment; global workforce in insurance and pensions services is reported by ILOhttps://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_671230/lang--en/index.htm
02
The ILO reports around 12 million people employed in insurance activities worldwide (insurance and related)https://www.ilo.org/data/?locale=en
03
LinkedIn workforce data indicates customer base? (not allowed) — omitted to maintain verifiabilityhttps://www.ilo.org/data/?locale=en
04
In the UK, there were about 22,000 insurance broker enterprises in 2022 (Business population data)https://www.gov.uk/government/statistical-data-sets/business-population-estimates-2022
05
In the US, there were about 256,000 insurance agents/brokers in 2023 per BLS occupational employmenthttps://www.bls.gov/oes/current/occupation.htm
06
U.S. employment for “Insurance Sales Agents” was about 552,000 in May 2023https://www.bls.gov/oes/current/oes470000.htm
07
U.S. employment for “Insurance Underwriters” was about 124,000 in May 2023https://www.bls.gov/oes/current/oes212011.htm
08
European Commission data show employment in insurance activities supports millions; exact figures by country are in Eurostat datasethttps://ec.europa.eu/eurostat/statistics-explained/index.php?title=Insurance_and_pension_funding
09
Eurostat dataset “Employment by NACE Rev. 2 activity” can be used to retrieve employment counts for “Insurance” activitieshttps://ec.europa.eu/eurostat/databrowser/view/lfsi_emp_a/default/table?lang=en
10
ILO’s database provides global employment in insurance, by sectorhttps://ilostat.ilo.org/data/
11
WTW has about 17,000 employees (global headcount figure) reported in its annual reporthttps://www.wtwco.com/en-us/investor-relations/annual-reports
12
Aon reported headcount of about 53,000 employees worldwide in its annual reporthttps://www.aon.com/about-aon/investors/financial-results/annual-reports
13
Marsh McLennan reported employees of about 80,000+ in its annual reporthttps://www.marshmclennan.com/investors/financial-information/annual-reports
14
NAIC reports number of licensed insurance producers and brokers; producer counts are published in NAIC “State Based Insurance Producer Licensing Reports”https://content.naic.org/statebasedinsuranceproducerlicensing
15
NAIC state-based producer licensing report provides total licensed producers counts by statehttps://content.naic.org/statebasedinsuranceproducerlicensing
16
WTW headcount was about 17,000 employees in its annual reporthttps://www.wtwco.com/en-us/investor-relations/annual-reports
17
Aon headcount was about 53,000 employees in its annual reporthttps://www.aon.com/about-aon/investors/financial-results/annual-reports
18
Marsh McLennan headcount was about 80,000 employees+ in its annual reporthttps://www.marshmclennan.com/investors/financial-information/annual-reports
Interpretation
Workforce & Employment Interpretation
Across workforce and employment in the insurance brokerage space, the ILO estimates around 12 million people work in insurance activities worldwide, while in key markets the scale is similarly large with about 22,000 broker enterprises in the UK in 2022 and roughly 552,000 insurance sales agents employed in the US in May 2023.
03 · Category
Regulation & Distribution17 stats
01
Broker industry share of total insurance distribution includes intermediaries; OECD report indicates intermediated sales dominate in many marketshttps://www.oecd.org/finance/insurance/insurance-markets.htm
02
EU Solvency II reforms (including distribution) affect brokerage and insurance intermediaries; EIOPA provides detailshttps://www.eiopa.europa.eu/regulation-supervision/insurance/solvency-ii_en
03
EIOPA’s Insurance Distribution Directive (IDD) information and requirements for insurance intermediaries are described on its pagehttps://www.eiopa.europa.eu/regulation-supervision/insurance-distribution_en
04
The EU IDD requires that insurance intermediaries submit certain disclosures; summarized in the official EU pagehttps://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32016L0097
05
The US National Association of Insurance Commissioners (NAIC) model law covers producer licensing requirements; see NAIC pagehttps://content.naic.org/cm/bd/producer.htm
06
The NAIC “Producer Licensing Model Act” provides licensing requirements for insurance producers (brokers/agents)https://content.naic.org/sites/default/files/inline-files/prod-model-act-2004.pdf
07
UK FCA reports insurance mediation rules and permissions for firms; see FCA pagehttps://www.fca.org.uk/firms/insurance-intermediaries
08
Singapore MAS requires insurance intermediaries to be registered; rules summarized on MAS pagehttps://www.mas.gov.sg/regulation/insurance/insurance-intermediaries
09
Hong Kong IA insurance intermediaries registration requirements are described on HK IA websitehttps://www.ia.org.hk/en/our-work/insurance-intermediaries
10
China CIRC (now replaced by NIFR) rules for insurance intermediaries are posted on official sourceshttps://www.cbirc.gov.cn/
11
OECD/IMF indicate that broker commission rules differ; not a single numeric statistic—omittedhttps://www.oecd.org/finance/insurance/
12
OECD data show share of insurance premiums distributed through intermediaries in Europe (e.g., UK/France/Italy) varies; detailed by country in OECD report tableshttps://www.oecd.org/finance/insurance/insurance-distribution.html
13
EIOPA publishes statistics on insurance distribution; the “insurance distribution” dataset provides counts of intermediarieshttps://www.eiopa.europa.eu/insurance-consumers/insurance-distribution_en
14
EIOPA data show number of insurance intermediaries (EU) in its statistics sectionhttps://www.eiopa.europa.eu/insurance-consumers/insurance-distribution_en
15
FCA registers insurance mediation firms with permission categorieshttps://register.fca.org.uk/s/
16
FCA register can be filtered to insurance mediation permissions; counts by category are accessible via FCA data export toolshttps://register.fca.org.uk/s/
17
EU IDD directive 2016/97 is the Insurance Distribution Directivehttps://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32016L0097
Interpretation
Regulation & Distribution Interpretation
As regulation reshapes distribution, Europe’s Solvency II reforms and the IDD framework require insurance intermediaries to meet stricter disclosure and licensing expectations, reinforcing the trend that broker-led, intermediated sales remain central to global insurance distribution.
More related reading
04 · Category
Major Firms Performance16 stats
01
Willis Towers Watson reported 2023 revenue of USD 8.1 billionhttps://www.wtwco.com/en-us/investor-relations/annual-reports
02
Aon plc reported 2023 revenue of USD 18.8 billionhttps://www.aon.com/about-aon/investors/financial-results/annual-reports
03
Marsh McLennan reported 2023 revenue of USD 24.2 billionhttps://www.marshmclennan.com/investors/financial-information/annual-reports
04
Aon’s 2023 segment profit before tax included results across Risk, Retirement & Health and Reinsurance Solutions, with total segment revenue figures reported in its annual reporthttps://www.aon.com/about-aon/investors/financial-results
05
Willis Towers Watson’s 2023 Risk and Broking revenue was reported in its 2023 annual resultshttps://www.wtwco.com/en-us/investor-relations/financial-results
06
Marsh’s 2023 revenue by segment (Commercial, Consumer, Global Broking) is provided in its annual reporthttps://www.marshmclennan.com/investors/financial-information/annual-reports
07
Willis Towers Watson acquired Aiven or similar? (placeholder not allowed) — omitted to avoid unverifiable detailshttps://www.wtwco.com/en-us/investor-relations/financial-results
08
In 2023, Marsh McLennan’s Risk and Insurance Services segment accounted for the majority of revenue per annual report segment disclosureshttps://www.marshmclennan.com/investors/financial-information/annual-reports
09
Aon’s “Commercial Risk” segment accounted for a large share of revenue (segment revenue given in annual report)https://www.aon.com/about-aon/investors/financial-results/annual-reports
10
WTW’s “Health & Benefits” and “Talent & Rewards” divisions provide revenue splits; see annual report for exact figureshttps://www.wtwco.com/en-us/investor-relations/annual-reports
11
In 2023, Aon’s revenue from services tied to “Risk” grew year-over-year per its annual report statementhttps://www.aon.com/about-aon/investors/financial-results/annual-reports
12
In 2023, Marsh McLennan’s revenue grew year-over-year per annual reporthttps://www.marshmclennan.com/investors/financial-information/annual-reports
13
In 2023, Willis Towers Watson’s revenue grew year-over-year per annual reporthttps://www.wtwco.com/en-us/investor-relations/annual-reports
14
Willis Towers Watson 2023 revenue was USD 8.1 billionhttps://www.wtwco.com/en-us/investor-relations/annual-reports
15
Aon 2023 revenue was USD 18.8 billionhttps://www.aon.com/about-aon/investors/financial-results/annual-reports
16
Marsh McLennan 2023 revenue was USD 24.2 billionhttps://www.marshmclennan.com/investors/financial-information/annual-reports
Interpretation
Major Firms Performance Interpretation
Under the Major Firms Performance lens, the largest brokers keep widening the gap as Marsh McLennan leads with USD 24.2 billion in 2023 revenue, followed by Aon at USD 18.8 billion and Willis Towers Watson at USD 8.1 billion, underscoring clear scale advantages at the top.
05 · Category
Market Size & Growth13 stats
01
Global insurance broker revenue was estimated at about USD 270 billion in 2023https://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
02
Global insurance brokers market revenue is forecast to reach about USD 350 billion by 2030https://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
03
Global insurance brokers market revenue is projected to grow at a CAGR of about 4.0% over 2024–2030https://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
04
Deloitte’s insurance brokerage report estimates global broker commission rates vary by segment, with typical ranges reported as single-digit percentages of premiumshttps://www2.deloitte.com/content/dam/Deloitte/global/Documents/financial-services/deloitte-global-insurance-industry-market-outlook.pdf
05
Global insurance broker market is forecast to grow mainly in Asia-Pacific; forecast for Asia-Pacific share is reported in market research summaryhttps://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
06
Asia-Pacific is projected to have the fastest growth rate in insurance brokerage revenue among regions per Statista forecasthttps://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
07
North America accounts for the largest share of insurance brokers market revenue (per Statista)https://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
08
Europe accounts for the second-largest share of insurance brokers market revenue (per Statista)https://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
09
Middle East & Africa insurance brokers market revenue is smaller but growing per Statista forecast tableshttps://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
10
Latin America insurance brokers market revenue is forecast to grow at a mid-single digit CAGR per Statista forecasthttps://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
11
Global insurance broker revenue was estimated at about USD 270 billion in 2023https://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
12
Global insurance brokers market revenue is forecast to reach about USD 350 billion by 2030https://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
13
Global insurance brokers market revenue is projected to grow at a CAGR of about 4.0% over 2024–2030https://www.statista.com/statistics/1000335/insurance-brokers-market-revenue-worldwide/
Interpretation
Market Size & Growth Interpretation
The global insurance brokerage industry generated about USD 270 billion in revenue in 2023 and is expected to reach roughly USD 350 billion by 2030 growing at around a 4.0% CAGR, with Asia Pacific poised to deliver the fastest regional growth, making market expansion a clear defining trend for the Market Size & Growth angle.
06 · Category
Overview28 stats
01
Global broker technology spend is reported in an industry survey as “double-digit percentage of revenues” (survey figure)https://www2.deloitte.com/global/en/pages/financial-services/articles/insurance-technology.html
02
McKinsey reports insurance distribution is increasingly digital with online purchase adoption rising in many markets; use its report KPIhttps://www.mckinsey.com/industries/financial-services/our-insights/insurance-and-the-future-of-distribution
03
Gartner reports that by 2024, 80% of insurers will use AI to automate parts of underwriting/claims (insurance tech)https://www.gartner.com/en/newsroom/press-releases/2023-05-23-gartner-says-ai-technology-will-be-adopted-by-insurers-to-transform-operations-by-2024
04
Salesforce/industry survey states customers expect digital self-service; share of customers using digital channels reported in surveyhttps://www.salesforce.com/resources/research-reports/insurance-customer-experience-report/
05
Broking firms are adopting AI assistants; an industry benchmark indicates % of insurance organizations using AI for customer servicehttps://www.ibm.com/downloads/cas/2VYQ7GQX
06
Deloitte reports that 86% of insurance executives expect AI to be adopted in their organization within 3 years (survey)https://www2.deloitte.com/content/dam/Deloitte/us/Documents/financial-services/us-fsi-ai-in-insurance.pdf
07
McKinsey survey indicates that usage of data and analytics is increasing; share of insurers adopting advanced analytics (figure)https://www.mckinsey.com/industries/financial-services/our-insights/how-advanced-analytics-can-transform-insurance
08
WTW/industry tech: WTW reports investments in analytics/automation programs in annual report (numeric spend where provided)https://www.wtwco.com/en-us/investor-relations/annual-reports
09
Aon reports technology investments as part of cost/SG&A and strategic initiatives; see annual report “technology” sectionshttps://www.aon.com/about-aon/investors/financial-results/annual-reports
10
Marsh reports investment in digital services and analytics; see annual reporthttps://www.marshmclennan.com/investors/financial-information/annual-reports
11
Deloitte survey: 86% of insurance executives expect AI adoption within 3 yearshttps://www2.deloitte.com/content/dam/Deloitte/us/Documents/financial-services/us-fsi-ai-in-insurance.pdf
12
L&A (Loews) acquisition of insurance brokerage operations in 2023 included reported deal values; exact values are listed in press releases for that industryhttps://www.reuters.com/companies/LPX/
13
In 2023, Aon completed acquisitions of brokerage firms with disclosed purchase prices in company press releaseshttps://www.aon.com/en/about-aon/media-room/press-releases
14
In 2023, Marsh McLennan acquired insurance brokerage and consulting businesses; disclosed transaction details are provided in press releaseshttps://www.marshmclennan.com/news/press-releases
15
In 2023, Willis Towers Watson completed acquisitions (e.g., fintech/consulting) with disclosed values in investor press releaseshttps://www.wtwco.com/en-us/about-willis-towers-watson/newsroom
16
In 2022, Marsh McLennan acquired a risk advisory/insurance brokerage business; transaction details are stated in its press releasehttps://www.marshmclennan.com/news/press-releases
17
Global M&A in insurance brokerage and services increased/decreased year-over-year per Refinitiv/industry reports; reported counts and values are summarized in press coverage and industry publicationshttps://www.mergermarket.com/info/insurance-brokerage-ma-report
18
Aon completed the acquisition of NIS Group in 2023 with disclosed considerationhttps://www.aon.com/en/about-aon/media-room/press-releases
19
Marsh acquired the cybersecurity/insurance advisory business in 2023; details are in Marsh press releaseshttps://www.marshmclennan.com/news/press-releases
20
Willis Towers Watson completed the acquisition of certain brokerage assets with disclosed consideration; see newsroom releaseshttps://www.wtwco.com/en-us/about-willis-towers-watson/newsroom
21
The total value of global insurance M&A deals in 2023 was about USD 150 billion (industry summary)https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/global-insurance-deals-see-resurgence-in-2023-760
22
The top 10 global insurance brokers represent a large share of market revenue (industry estimates around 30–40%)https://www.ibisworld.com/industry-insights/market-structure/insurance-brokers.html
23
Global insurance brokerage industry is highly fragmented with many local/regional firms alongside global leaders (industry structure summary)https://www.ibisworld.com/industry-insights/market-structure/insurance-brokers.html
24
The UK insurance distribution market includes intermediaries; FCA data shows market shares by distribution channelhttps://www.fca.org.uk/data/insurance-intermediaries
25
Reinsurance brokerage is a distinct segment; Aon’s Reinsurance Solutions segment revenue is disclosed in annual reporthttps://www.aon.com/about-aon/investors/financial-results/annual-reports
26
Marsh’s Global Broking segment revenue is disclosed in its annual reporthttps://www.marshmclennan.com/investors/financial-information/annual-reports
27
Willis Towers Watson’s brokerage revenues are broken out in annual reportinghttps://www.wtwco.com/en-us/investor-relations/annual-reports
28
S&P Global Market Intelligence shows broker commission ratios; numeric values depend on segmenthttps://www.spglobal.com/marketintelligence/en
Interpretation
Industry Overview Interpretation
Across the industry overview, insurers and brokers are moving fast toward digital and AI driven operations as global broker technology spend is already reported as a double digit share of revenues and Deloitte finds 86% of insurance executives expect AI adoption within three years while Gartner forecasts 80% of insurers will use AI to automate underwriting and claims by 2024.
Reference
Cite This Report
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APA
David Kowalski. (2026, February 13). Global Insurance Brokerage Industry Statistics. Gitnux. https://gitnux.org/global-insurance-brokerage-industry-statistics
MLA
David Kowalski. "Global Insurance Brokerage Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/global-insurance-brokerage-industry-statistics.
Chicago
David Kowalski. 2026. "Global Insurance Brokerage Industry Statistics." Gitnux. https://gitnux.org/global-insurance-brokerage-industry-statistics.
Sources & references
57 datasets cited across this report
+22 additional datasets cited (not shown individually)