Marsh extends broker dominance
Marsh McLennan has extended its dominance as the world’s largest re/insurance broker, generating revenues of $19.8 billion in 2021, according to the industry website Reinsurance News.
The website’s directory of the Top 20 global insurance and reinsurance brokers is based on research data from AM Best, the ratings agency.
Year on year, Marsh McLennan’s total revenues increased by $2.6 billion as of December 31, 2021, the report said.
Second-placed broker Aon saw its revenue increase by $1.13 billion to $12.2 billion over the same period.
WTW is in third spot, as total revenue fell from $9.35 billion in 2020 to $9 billion in 2021, Reinsurance News said.
Rounding out the Top 10 are Arthur J Gallagher (revenue of $6.9 billion), Hub International ($3.23 billion), Brown & Brown ($3.05 billion), Acrisure ($2.97 billion) Alliant Insurance Services ($2.9 billion), Truist Insurance Holdings ($2.88 billion) and Lockton ($2.8 billion).
Reinsurance News said the 11th through 20th places are occupied by USI Insurance Services ($2.3 billion), AssuredPartners ($2.04 billion), NFP Corp ($1.9 billion), Amwins ($1.8 billion), Howden ($1.57 billion), the Ardonagh Group ($1.3 billion), CBIZ Inc ($1.1 billion), Epic Insurance Brokers ($806.1 million), AmeriTrust Group Inc ($667.6 million) and Fanhua Inc ($513.3 million).