Based on total revenue from 2023. Marsh McLennan maintains the first place for the 14th year in a row in the ranking of the world’s best insurance brokers compiled by him AM Bestwith an increase in total revenues of almost 9.7%, which brought the group to $22.7 billion.
Among the top 20 companies, Marsh McLennan also saw the biggest revenue growth, up $2 billion year-over-year.
Aon retained second place for the 14th year in a row, posting a 7.2% increase in total revenue, from $12.5 billion to $13.4 billion.
WTWhowever, it dropped to fourth place from third in 2022. Gallagher rose to third place for the first time since the acquisition of WTW’s reinsurance business, which closed in December 2021.
The other 10 companies in the top 10 remained unchanged, but with slight changes in ranking.
Both Alliant Insurance Services and Lockton moved up one spot from last year’s rankings to No. 8 and No. 9, respectively. Alliant posted a significant 20% increase in total revenue to $3.88 billion, while Lockton posted a 14.5% increase to $3.55 billion.
TIH (formerly Truist Insurance Holdings) dropped from No. 8 to No. 10, with total revenue of $3.46 billion, a slight increase of 2.4%.
This year’s ranking also welcomed three new entries. Steadfast Group is the first of these newcomers, debuting at No. 17 with $904.3 million in total revenue.
AmeriTrust Group, previously ranked #18, was acquired by AF Group and is no longer listed. Its place was taken by AUB Group, which is on the list in 18th place with 853.6 million dollars in revenue.
Finally, BMS Group enters the list at number 20 with total revenue of $385 million.
Source: Reinsurance News