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AM Best has published its ranking of insurance and reinsurance brokerage firms based on 2025 revenue.
The top three spots are held by Marsh, Aon, and Arthur J. Gallagher, respectively. The rankings remain unchanged from 2024.
WTW (Willis Towers Watson) retains the fourth place.
Brown & Brown moves up two spots to fifth place among the top 20 brokers, ahead of Alliant Insurance Services.
Figures in millions USD
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| Ranking | Broker | Country | 2025 revenue | |
| 2025 | 2024 | |||
| 1 | 1 | Marsh | United States | 26 980 |
| 2 | 2 | Aon | United Kingdom | 17 200 |
| 3 | 3 | Arthur J. Gallagher & Co | United States | 13 800 |
| 4 | 4 | WTW | United Kingdom | 9 710 |
| 5 | 7 | Brown & Brown | United States | 5 900 |
| 6 | 5 | Alliant Insurance Services | United States | 5 800 |
| 7 | 6 | Hub International Ltd | United States | 5 280 |
| 8 | 10 | Howden Group Holdings | United Kingdom | 4 840 |
| 9 | 8 | Acrisure LLC | United States | 4 820 |
| 10 | 9 | Lockton Inc. | United States | 4 480 |
| 11 | 11 | AmWINS Group Inc. | United States | 3 200 |
| 12 | 14 | Ryan Specialty | United States | 3 050 |
| 13 | 12 | USI Insurance Services | United States | 2 970 |
| 14 | 13 | The Ardonagh Group | United Kingdom | 2 960 |
| 15 | 15 | CRC Group | United States | 2 460 |
| 16 | 16 | BroadStreet Partners | United States | 2 420 |
| 17 | 18 | Alera Group | United States | 1 580 |
| 18 | 19 | The Baldwin Group | United States | 1 510 |
| 19 | * | Diot-Siaci | France | 1 480 |
| 20 | 20 | Digital Insurance (OneDigital) | United States | 1 460 |
* Diot-Siaci entered the top 20 in 2025
Read also | World's largest reinsurers
