Marsh & McLennan (MMC) is ranked as the biggest global broker in the world by total annual revenue in 2019, according to AM Best.
With $17bn in total revenue last year, MMC shows an increase over the $14.95bn generated in 2018. It cemented its first-place position in Best’s Review’s Top Global Insurance Brokers ranking with the acquisition of Jardine Lloyd Thompson Group in 2019. Marsh noted the JLT deal was the largest in the company’s history and expanded business in the U.K., Australia, Asia-Pacific and Latin America. MMC completed its acquisition of JLT for $5.6bn in April 2019,
Second-place Aon had total revenue of $11bn last year. Aon’s proposed acquisition of Willis Towers Watson, while a blockbuster deal, did not impact the rankings because it was announced this year. A combined Aon and Willis Towers Watson could claim the number one spot.
Rounding out the top five, which also retained their positions from last year, are Willis Towers Watson ($9.04bn), Arthur J. Gallagher ($7bn) and Hub International ($2.4bn.)
Most of the remaining brokers moved up at least one notch due to JLT being folded into Marsh.
Return to Top 20 list
After its last appearance in the 2017 ranking, Fanhua returned in the No. 20 spot. The China-based broker debuted in the 2009 ranking as CNInsure. The name change to Fanhua occurred in 2016.
Top 20 Global Brokers Ranked by 2019 Total Revenue (biggest to smallest) are:
Marsh & McLennan
Willis Towers Watson
Arthur J Gallagher
Brown & Brown
Truist Insurance Holdings
USI Insurance Services
Alliant Insurance Services
Hyperion Insurance Group
The Ardonagh Group
EPIC Insurance Brokers & Consultants