Marsh McLennan maintains top global broker spot by revenue for 15th year

Marsh McLennan remains the top global insurance and reinsurance broker by total revenue for the 15th consecutive year, increasing its revenue by $1.72 billion to $24.46 billion in 2024, while several other brokers maintained their positions in the top 20 and new firms joined the list.

These insights are based on data from ratings agency AM Best, and you can view our table for the Top 20 Global Insurance & Reinsurance Brokers here.

“The largest brokers continue to show their strength in the insurance industry, with six of the top 20—including the top four— maintaining their places in the 2025 edition of Best’s Review’s annual top broker list,” AM Best said.

Aon held the second spot for the 15th year in a row, with total revenue of $15.7 billion. Arthur J. Gallagher & Co. and WTW remained in the top four, reporting revenues of $11.30 billion and $9.93 billion, respectively.

There were also some notable shifts, with Alliant Insurance Services jumping to fifth place from eighth, with $5.07 billion in revenue, replacing Hub International, which moved down to sixth with $4.81 billion.

The Ardonagh Group also made a significant move, rising from 17th place in 2023 to 13th, with $2.53 billion in total revenue.

AM Best noted, “As part of a company rebranding in March 2025, CRC Group said it was sunsetting its TIH brand. TIH was ranked No. 10 in 2024. The newly rebranded CRC Group is ranked No. 15.”

CRC Group, now ranked 15th, reported $2.46 billion in total revenue for 2024.

Five new names entered the top 20 list in positions 16 through 20: BroadStreet Partners, Accession Risk Management Group, Alera Group, The Baldwin Group, and Digital Insurance (OneDigital), listed in order.

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