North America Insurance Brokerage Market Size & Outlook
The insurance brokerage market in North America is expected to reach a projected revenue of US$ 145,263.8 million by 2030. A compound annual growth rate of 7.5% is expected of North America insurance brokerage market from 2024 to 2030.
- Fintech & Financial Services
- Insurance & InsurTech
- Insurance Brokerage Market Outlook
- Insurance & InsurTech
Revenue, 2023 (US$M)
$87,645.1
Forecast, 2030 (US$M)
$145,263.8
CAGR, 2024 - 2030
7.5%
Report Coverage
North America
North America Insurance Brokerage Market, 2018-2030 (US$M)
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North America insurance brokerage market highlights
- The North America insurance brokerage market generated a revenue of USD 87,645.1 million in 2023.
- The market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, life insurance was the largest revenue generating insurance in 2023.
- Life Insurance is the most lucrative insurance segment registering the fastest growth during the forecast period.
North America data book summary
| Market revenue in 2023 | USD 87,645.1 million |
| Market revenue in 2030 | USD 145,263.8 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Life insurance |
| Fastest growing segment | Life Insurance |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Life Insurance |
Other key industry trends
- In terms of revenue, North America region accounted for 30.5% of the global insurance brokerage market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 168,145.0 million by 2030.
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Publish Date: Nov 07, 2024
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Insurance Brokerage Market Scope
Insurance Brokerage Market segmentation & scope
Brokerage
Retail
Wholesale
End Use
Individual
Corporate
Insurance Brokerage Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| USI Insurance Services | View profile | 10001+ | Valhalla, New York, United States, North America | www.usi.com/ |
| Willis Towers Watson PLC | View profile | 48,000 | C/o Willis Group Ltd, 51 Lime Street, London, United Kingdom, EC3M 7DQ | www.willistowerswatson.com |
| Aon PLC Class A | View profile | 50,000 | James Joyce Street, Metropolitan Building, Dublin 1, Ireland, D01 K0Y8 | www.aon.com |
| Alliant Insurance Services | View profile | 1001-5000 | Newport Beach, California, United States, North America | alliant.com |
| HUB International | View profile | 10001+ | Chicago, Illinois, United States, North America | www.hubinternational.com |
| Lockton | View profile | 5001-10000 | Kansas City, Missouri, United States, North America | www.lockton.com/offices/uk |
| Brown & Brown Insurance Services of California | View profile | 101-250 | Anaheim, California, United States, North America | www.bbrown.com/us/ |
| Gallagher | View profile | 10001+ | Rolling Meadows, Illinois, United States, North America | www.ajg.com |
| Cline Wood, a Marsh & McLennan Agency LLC company | View profile | 101-250 | Leawood, Kansas, United States, North America | clinewood.com |
| Edgewood Partners Insurance Center | View profile | 1001-5000 | San Francisco, California, United States, North America | www.edgewoodins.com |
North America Insurance Brokerage Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Insurance Brokerage Market Outlook will help companies and investors design strategic landscapes.
Life Insurance was the largest segment with a revenue share of 100.0% in 2023.
Horizon Databook has segmented the North America insurance brokerage market based on life insurance covering the revenue growth of each sub-segment from 2018 to 2030.
- North America Insurance Brokerage Market Insurance Outlook (Revenue, USD Million , 2018-2030)
- Life Insurance
- Property & Casualty Insurance
- North America Insurance Brokerage Market Brokerage Outlook (Revenue, USD Million , 2018-2030)
- Retail
- Wholesale
- North America Insurance Brokerage Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Individual
- Corporate
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America Insurance Brokerage Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into North America Insurance Brokerage Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.