The insurance brokerage market expansion is supported by accelerating demand for cyber-insurance placement amid rising digital risk exposure, along with increasing uptake of life insurance policies across emerging markets as income levels, financial awareness, and long-term protection planning continue to evolve.
Hyderabad, India, Jan. 12, 2026 (GLOBE NEWSWIRE) — According to Mordor Intelligence, the insurance brokerage market size is showing steady momentum, expanding from USD 328.47 billion in 2025 to USD 359.27 billion in 2026 and projected to reach USD 562.48 billion by 2031, growing at a CAGR of 9.38%. Growth is being supported by rising demand for cyber, catastrophe-linked, and embedded finance insurance solutions, alongside continued digital investments that are shortening placement timelines and extending broker reach. The growing prominence of excess and surplus lines, accounting for around one-third of US commercial insurance activity, is reshaping risk distribution, while increasing private-sector capital and ongoing consolidation are redefining competitive dynamics across the brokerage landscape.
Regional Market Outlook
North America continues to play a central role in the insurance brokerage market, supported by mature financial systems, established surplus-lines structures, and advanced technology adoption. While growth is moderating as embedded insurance gains visibility and some commercial buyers explore alternative risk arrangements, brokers in the region are adapting through more sophisticated risk-transfer and coverage solutions. This evolution is reinforcing the broker’s role in complex commercial and specialty insurance placements.
Asia-Pacific region is emerging as a key growth engine, aided by regulatory evolution, rising insurance awareness, and expanding digital ecosystems. Brokers that focus on localized advisory capabilities and flexible digital platforms are increasingly well positioned to capture long-term opportunities across developing markets. These conditions are encouraging broader participation from both domestic and international brokerage players.
Key Market Insights
Accelerating Digital Adoption Across Brokerage Operations
Insurance brokers are increasingly collaborating with carriers and technology providers to embed advanced digital tools across underwriting and claims processes. The use of artificial intelligence and cloud-based platforms is enabling faster pricing decisions, more flexible policy structures, and smoother client interactions. As digital ecosystems expand, brokers are also leveraging embedded insurance capabilities and white-label platforms to extend distribution through financial and fintech channels, helping offset pressure on traditional commission models while improving overall customer experience.
Expanding Compliance Demands Strengthen the Broker Advisory Role
Rising regulatory scrutiny across insurance markets is increasing the need for broker-led advisory services that extend well beyond policy placement. Organizations are seeking structured guidance to navigate disclosure requirements, compliance alignment, and cross-border regulatory consistency. In response, brokers are developing ongoing advisory frameworks and digital compliance tools that support clients throughout the policy lifecycle and strengthen long-term engagement.
Major Segments Highlighted in the Insurance Brokerage Market Report
By Insurance Type
- Life Insurance
- Property & Casualty Insurance
- Health Insurance
- Specialty Lines (Marine, Aviation, Cyber)
- Reinsurance Brokerage
By Brokerage Type
- Retail Brokerage
- Wholesale Brokerage
- Other Brokerage
By Insurers
- Private Sector
- Public Sector / Non-Profits
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Peru
- Chile
- Argentina
- Rest of South America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- BENELUX (Belgium, Netherlands, Luxembourg)
- Nordics (Sweden, Norway, Denmark, Finland)
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South East Asia
- Indonesia
- Rest of Asia
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Nigeria
- Rest of Middle East
Overview – Insurance Brokerage Industry
| Study Period | 2020-2031 |
| Market Size Forecast | USD 562.48 Billion (2031) |
| Industry Expansion | Growing at a CAGR of 9.38% during 2026-2031 |
| Fastest Growing Market for 2026-2031 | Asia-Pacific projected to record the fastest growth rate |
Insurance Brokerage companies
• Acrisure LLC
• Aon plc
• Arthur J. Gallagher & Co.
• Brown & Brown Inc.
• HUB International Ltd.
• Lockton Companies
• Marsh McLennan Companies Inc.
• Truist Insurance Holdings
• USI Insurance Services LLC
• Willis Towers Watson plc
• Ryan Specialty Holdings Inc.
• Howden Group Holdings
• Alliant Insurance Services Inc.
• Edgewood Partners Insurance Center (EPIC)
• BMS Group Ltd.
• Miller Insurance Services LLP
• Goosehead Insurance Inc.
• NFP Corp.
• Gallagher Re
• Ardonagh Group
Get in-depth industry insights on the insurance brokerage market report: https://www.mordorintelligence.com/industry-reports/insurance-brokerage-market?utm_source=globenewswire
Explore related reports from Mordor Intelligence
Embedded Insurance Market: Embedded Insurance Market is segmented by insurance line: electronics protection, furniture & home appliances, sports & leisure equipment, travel & ticketing, auto & mobility, pet & tuition, other niche lines; by distribution channel: online (API / SDK), offline (POS, dealerships, retail); by end-user industry: e-commerce & marketplaces, mobility & automotive OEMs, travel & hospitality, consumer electronics retail, financial services & lending, SaaS / vertical platforms; by partner-platform type: marketplaces, vertical SaaS, fintech / neobank, telecom / utilities portals; by geography.
Reinsurance Market: The Global Reinsurance Market is segmented by reinsurance type: facultative reinsurance, treaty reinsurance; by line of business: property & casualty, life & health, specialty (aviation, marine, energy), others; by distribution channel: direct writing, broker-mediated; by capital source: traditional rated reinsurers, alternative capital (ILS, sidecars) and by region.
Pet Insurance Market: The Global Pet Insurance Market is segmented by policy type: accident & illness, accident-only, wellness / preventive-care add-ons, chronic / hereditary conditions; by animal type: dog, cat, other pets (birds, exotics, equine); by provider type: private insurers, mutual / cooperative insurers, insurtech-only providers, government-linked / public schemes; by sales channel: direct-to-consumer (digital & phone), intermediated (included agency / broker, bancassurance and other traditional third-party channels), embedded (pet retailers, vet clinics, e-commerce) and by geography.
About Mordor Intelligence:
Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.
With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive market analysis and research reports as well as syndicated and custom research offerings that cover a wide spectrum of industries, including aerospace & defence, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.
CONTACT: For any inquiries, please contact: media@mordorintelligence.com https://www.mordorintelligence.com/contact-us