Top 25 Property/Casualty Insurance Agencies

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Each year Insurance Journal, an online insurance news publication, publishes a list of the 100 largest property/casualty agencies. The magazine ranks agencies in descending order based on revenue. Insurance Journal created its ranking using data that it obtained from the agencies or that was available publicly. The magazine notes that some agencies may have been eligible for the list but weren't included because their 2016 revenue information was unavailable.

The largest 25 largest independent agencies are listed in the table below. The list is derived from Insurance Journal 's 2017 ranking. The agencies are ranked according to revenue they earned in 2016.

Several of the companies that made the "top 25 agencies" list also appear on the list of the 15 largest insurance brokers. Examples are Hub International, Lockton, Alliant, and USI. Why are these companies on both lists? The answer is that they act as insurance agencies in some situations and insurance brokerages in others.

When acting as an agency, an insurance intermediary functions as a representative of an insurance company. An agency sells products on an insurer's behalf under a contract called an agency agreement. The agreement permits the agency to initiate coverage and issue an insurance binder to the policyholder. A binder a temporary insurance contract that dissolves when the insured party receives the policy.

When acting as a brokerage, an insurance intermediary is not operating under a contractual agreement with an insurer. Rather, a broker acts as a representative of an insurance buyer. A broker can send an insurance application to an insurer but has no authority to initiate coverage on the buyer's behalf.

Here is the list of the largest 25 insurance agencies. For each agency, the table shows the revenue earned in 2017 (which has been rounded off) and some remarks about the company.

Rank Name 2017 Rev. ($M*) Comments
1 Hub International 1.1 bn Based in Chicago. Operates through approximately 450 offices across the U.S. & Canada. Sells business insurance, employee benefits, and risk management services.
2 Lockton Cos. 1.0 bn Based in Kansas City but operates in over 125 countries. Offers business insurance, employee benefits, risk management, and retirement services.
3 Alliant Ins. Servies 656.3 Operates from over 80 locations in the U.S. Based in Newport Beach, CA. Offers business insurance, employee benefits, risk control consulting, human resources consulting, and property valuation.
4 USI Ins. Services 575.0 Operates from over 150 locations in U.S. Based in Valhalla, NY. Offers business and personal insurance, employee benefits, retirement consulting, and affinity programs. Also owns an employee benefits wholesaler.
5 AssuredPartners Inc. 546.9 Created in 2011 through agency acquisitions. Offices in 30 states and Canada. Based in Lake Mary, FL. Offers business insurance, risk management services, employee benefits, and personal insurance.
6 Confie 515.1 Specializes in personal lines, small to mid-sized commercial business and Hispanic community. Based in Huntington Beach, CA. Maintains offices in 19 states.
7 Acrisure LLC 478.6 Founded in 2005. Provides business insurance, group benefits, voluntary benefits, surety, and captive insurance services. Based in Caledonia, MI
8 Broadstreet Partners Inc. 338.7 Operates in 21 states through regional agencies. Based in Columbus, OH. Sells commercial and personal coverages.
9 NFP 214.0 Offers commercial insurance, corporate benefits, and private client resources. Formerly known as National Financial Partners Corp. Based in NYC.
10 Integro Insurance Brokers 188.6 Founded in 2003. 30 locations in U.S., Canada and U.K. Based in NYC.
11 Risk Strategies 153.3 Offers business insurance, employee benefits, and private client services. Operates from 40 offices in U.S. Based in Boston.
12 Ins. Office of America 147.6 Operates from over 50 locations in the U.S. Sells business and personal insurance, employee benefits, and risk management services. Based in Longwood, FL.
13 Leavitt Group 146.0 Established in 1952. Operates from 135 offices in 19 states. Based in Cedar City, UT
14 Crystal & Co. 143.9 Maintains 11 offices in the U.S. Based in NYC. Sells business insurance, employee benefits, and specialty services.
15 IMA Financial Group 116.7 Owned by employees. Sells business insurance, employee benefits, personal coverages, specialty services, and wealth management. Based in Wichita, KS.
16 Cross Financial Corp. dba Cross Insurance 107.1 Founded in 1997. Based in Bangor, ME. Offers personal and commercial insurance, employee benefits, and specialty products.
17 Wortham 105.5 Purchased by Marsh, a large brokerage, in 2018. Currently operating as Marsh Wortham, a division of Marsh USA Inc.
18 Higginbotham 96.4 Founded in 1948. Operates from approximately 30 offices, one in Oklahoma and the rest in Texas. Sells personal and commercial insurance and employee benefits.
19 Heffernan Ins. Brks. 91.9 10 locations in the U.S. and one in London. Employee-owned. Based in Walnut Creek, CA.
20 Hays Companies 91.7 Based in Minneapolis, MN. More than 30 offices in the U.S.
21 Woodruff-Sawyer 89.0 Founded in 1918. Provides risk management, commercial insurance, and employee benefits brokerage and consulting services. Based in San Francisco, CA.
22 AIS Insurance Specialists 87.9 Owned by AIS Insurance Co. Sells personal and commercial coverages and life and health insurance. Operates in all 50 states. Based in Cerritos, CA.
23 Answer Financial 80.0 Owned by Allstate. Personal lines only. Business conducted mostly online.
24 PayneWest Insurance Inc. 78.3 Offers business and personal insurance, health coverage, and surety bonds. Based in Missoula, MT.
25 Hylant Group Inc. 69.4

Based in Toledo, OH. Family-owned business. Maintains 14 offices in the Midwest and Florida. Sells commercial insurance and employee benefits.

*M=Millions