Summary
Despite the downturn in the economy in 2008, the multibillion dollar global insurance brokerage business held steady, for the most part, in terms of brokerage revenues. As Best's Review presents its fourth annual ranking of the major players in this marketplace, there is a difference: Figures are based on 2008 brokerage revenue from the placement of primary insurance business only, using data provided by the companies. Looking ahead this year, many brokers plan to hone their strategies while competing in a challenging economic environment. The top global insurance brokers are presented. These include: 1. Aon Corp, 2. Marsh & McLennan Cos, 3. Willis Group Holdings Ltd, 4. Arthur J Gallagher & Co, 5. Jardine Lloyd Thompson Group PLC, 6. Brown & Brown Inc, 7. BB&T Insurance Services Inc, 8. Lockton Cos Inc, 9. Hub International Ltd, and 10. USI Holdings Corp.
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Extract
Top Global Insurance Brokers
Best's Review's
Despite the down- turn in the econ- omy in 2008, the multibillion dollar global insurance brokerage busi- ness held steady, for the most part, in terms of bro- kerage revenues. As Best's Review presents its fourth annual ranking of the major players in this mar- ketplace, there is a differ- ence: Figures are based on 2008 brokerage revenue from the placement of primary insurance business only, using data provided by the companies. Reinsurance, wholesale business, managing general agent and other business revenues not directly related to the placement of primary insurance business were excluded. Previously, the ranking was not as tightly defined. This has led to some changes in the Top 20, as some com- panies' positions changed and others dropped off the Top 20. Beyond the economic crisis, 2008 was a year of mergers and acquisitions for bro- kers. Aon merged with Benfield, Willis acquired Hilb Rogal & Hobbs and Gallagher made 37 acquisitions. These deals, along with some continued organic growth, also altered the brokerage landscape. Looking ahead this year, many brokers plan to hone their strategies while competing in a challenging economic environment.1. Aon Corp.Brokerage Revenues2008: $6.2 billion2007: $6.0 billionTotal Revenues2008: $7.6 billion2007: $7.4 billionTop Executive: Greg Case, President and Chief Executive Officer200 East Randolph St., Chicago, IL 60601Phone: 312-381-1000www.aon.comTrading symbol: AOCOwnership: Public...See the full content of this document
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