The global insurance brokerage market continues to expand as demand increases for cyber coverage, catastrophe-related solutions, and digitally enabled insurance placement, according to a new report from Research and Markets released Feb. 9, 2026.

The report, Insurance Brokerage – Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026–2031), estimates the market will grow from $328.47 billion in 2025 to $359.27 billion in 2026. Forecasts project the market will reach $562.48 billion by 2031, reflecting a compound annual growth rate of 9.38% during the 2026 to 2031 period.

Researchers attribute this growth to rising demand for cyber insurance, catastrophe-related coverage, and embedded-finance solutions. In addition, increased investment in digital technologies continues to shorten placement cycles and expand broker access to clients.

Excess-and-Surplus Lines and Capital Shifts Reshape the Market

The report identifies a continued shift toward excess-and-surplus lines, which now represent 34% of U.S. commercial insurance business. This change has altered risk distribution and increased demand for brokers with access to specialized and niche markets.

Public-sector carriers remain the leaders in premium volume. However, private-sector capacity continues to grow as institutional capital flows into alternative risk vehicles. At the same time, consolidation remains a defining trend. Acquisitions completed during 2024 and 2025 expanded the broker scale but also introduced margin pressure across the sector.

Embedded insurance distribution also continues to influence market dynamics. The report estimates these channels could divert up to $50 billion in auto insurance premiums away from traditional brokerage models.

Life Insurance Demand Rises in Emerging Markets

Life insurance demand is increasing across emerging markets, particularly in India, China, and Southeast Asia. According to the report, consumer preferences in these regions are shifting toward protection-focused products, driven by higher risk awareness following the pandemic.

In India, gross written premiums reached $31.4 billion in fiscal year 2023 after deregulation of commission structures. Across the Asia-Pacific region, relaxed foreign ownership rules continue to attract global insurance and brokerage firms. As a result, brokers increasingly serve as advisors on regulatory compliance and localization requirements.

Digitalization and InsurTech Partnerships Accelerate Placement

Digital transformation remains central to brokerage growth strategies. Broker and carrier partnerships are increasingly using artificial intelligence to improve underwriting efficiency and accelerate quote-to-bind timelines.

The report highlights a collaboration between McGill & Partners and AXA XL, which reduced placement timelines by up to 75% through AI-enabled underwriting. Cloud computing and AI investments now account for a significant share of brokerage IT budgets, underscoring the strategic focus on digital infrastructure.

Brokers are also using behavioral data and parametric triggers to enhance customer interactions. In addition, white-label digital portals now allow commercial insurance quotations within banking applications, supplementing declining traditional commission revenue.

Commission Pressure and Rising Costs Impact Margins

Commission compression continues to challenge brokerage profitability. In 2023, heightened competition in the cyber insurance market led to a 17% decline in cyber premiums, putting pressure on gross margins.

As a result, many commercial producers have shifted toward fee-based compensation models. Mid-sized brokerages face additional challenges as they attempt to scale operations to support digital investment while managing inflation-driven operating costs. While offshoring could reduce expenses, data sovereignty regulations limit its use and slow broader market growth.

Segment Performance Highlights Specialty Growth

Property and casualty insurance accounted for 55.62% of the global insurance brokerage market in 2025, reinforcing its role as the largest segment in complex risk programs.

Specialty lines, however, are projected to grow at an 8.22% compound annual growth rate. Growth within this segment is driven by increased demand for cyber, marine, and aviation coverage that requires tailored risk structuring. The report also notes that emerging risks, including space-launch liability, are contributing additional revenue streams that rely on brokers’ specialized placement expertise.

Regional Market Trends

North America controlled 37.42% of intermediated premiums in 2025, supported by a mature technology environment and an advanced surplus-lines structure. Although growth has moderated due to changing consumer preferences and increased self-insurance among commercial clients, adaptive brokerage strategies continue to support regional leadership.

Asia-Pacific is identified as the fastest-growing region, driven by regulatory liberalization, rising cyber insurance premiums, and increased insurance adoption. Successful brokerage strategies in the region emphasize local partnerships and sustained digital investment.

Europe faces mixed conditions following Brexit-related regulatory divergence. While economic pressures have constrained premium growth, regulatory reforms have created new investment opportunities. Consolidation among specialty brokers has improved operational efficiency and reinforced Europe’s role in the global insurance brokerage market.

Companies Covered in the Report

The report includes analysis of major insurance brokerage firms, including Acrisure LLC, Aon PLC, Arthur J. Gallagher & Co., Brown & Brown Inc., HUB International Ltd., Lockton Companies, Marsh McLennan Companies Inc., Truist Insurance Holdings, USI Insurance Services LLC, Willis Towers Watson PLC, Ryan Specialty Holdings Inc., Howden Group Holdings, Alliant Insurance Services Inc., Edgewood Partners Insurance Center, BMS Group Ltd., Miller Insurance Services LLP, Goosehead Insurance Inc., NFP Corp., Gallagher Re, and Ardonagh Group.

ResearchAndMarkets.com, the publisher of the report, provides international market research, industry data, and analysis across global and regional markets, covering key industries, leading companies, and emerging trends.

Maple Technologies (MapleTech) announced the availability of Aspire Quick Start on Feb. 10, 2026. Quick Start is a built-in, step-by-step workflow within the Aspire underwriting platform. It automates risk intake for trucking insurance and streamlines how underwriters collect and review submission data.

The new workflow focuses on reducing manual data entry while improving visibility into data sources and submission progress. As a result, underwriting teams can complete trucking risk intake in minutes rather than hours.

Streamlined Risk Intake Within Aspire

Quick Start operates directly inside the Aspire underwriting platform. It guides users through a structured workflow that automates trucking insurance submissions. According to MapleTech President and CEO Matt Blackley, the tool reduces manual entry while clearly showing the provenance of each data record. In addition, the workflow includes real-time progress indicators and pulls from multiple data sources to reduce information gaps. Quick indications can reach 90% completion in minutes.

Automated Data Retrieval and Consolidation

Quick Start retrieves carrier information from the Federal Motor Carrier Safety Administration or from motor-carrier data and analytics companies. It displays carrier details, safety records, and fleet information in a single workflow. Users can upload quote forms and supporting documents using a drag-and-drop interface.

A tailored AI model extracts risk data from these materials. The system then consolidates and deduplicates records while showing the source of each item. Users can review the consolidated list, include or exclude vehicles and drivers, and bulk-exclude records from specific data sources. Once the review is complete, users select “Close and Import” to bring the curated data directly into Aspire. This process eliminates manual entry and completes intake in minutes.

AI Processing Built for Trucking Risk

MapleTech designed Quick Start’s AI model specifically for risk data extraction. According to CTO Don Honeycutt, the system provides tailored processing rather than generic optical character recognition. The interface responds more intuitively than traditional forms, allowing underwriters to review consolidated vehicles and drivers before import. Multi-source integration consolidates all required data and documents into a single workflow. Because Quick Start is built into Aspire, it does not require additional integrations, added costs, or vendor fees.

About Maple Technologies

Maple Technologies develops Aspire, a core processing system for Property and Casualty insurance. Carriers, reciprocals, risk retention groups, captives, self-insureds, and MGAs use Aspire to write personal, commercial, and specialty lines of business. Aspire offers flexibility, configurability, and reliability. Organizations can deploy it as a pre-integrated suite or as standalone components. The platform integrates with other systems and data sources through flexible APIs and supports configurable workflows. By streamlining operations and improving efficiency, Aspire helps insurers reduce costs and improve profitability.

For more information, visit www.maple-tech.com, call (732) 863-5523, or email info@maple-tech.com.

Verisk and the American Property Casualty Insurance Association reported improved U.S. insurance industry performance through the first nine months of 2025, driven by continued premium growth and lower extreme weather losses. The findings, released Feb. 6, show a net underwriting gain of $35.3 billion and a notable improvement in the combined ratio.

According to the report, these results reflect data filed by U.S.-domiciled private property and casualty insurers, including reinsurers and excess and surplus insurers, and account for nearly all industry activity during the period.

Premium Growth Continues Across Lines

Net written premiums increased 5.1% year over year, rising to $740.7 billion through the third quarter of 2025. During the same period in 2024, insurers reported $704.8 billion in net written premiums. The report attributes this growth to a shift toward more adequate pricing and stable demand across most commercial and personal insurance lines.

Net earned premiums also rose, increasing 6.9% to $711.2 billion, compared with $665.5 billion reported in 2024.

Underwriting Results Show Significant Improvement

The industry posted an estimated net underwriting gain of $35.3 billion through the first nine months of 2025. By comparison, insurers reported a $4 billion underwriting gain during the same period in the prior year.

Incurred losses and loss adjustment expenses increased by 0.6%, a slower pace than the 2.7% increase reported in 2024. As a result, the combined ratio improved to 94%, down from 97.9% one year earlier. The report notes that this marks the first time in a decade that the combined ratio fell below 95% through the third quarter.

Policyholders’ surplus increased to $1.20 trillion, up from $1.12 trillion during the same period in 2024.

Investment Results and Capital Gains

Realized capital gains declined significantly during the period, totaling $15.6 billion compared with $75.5 billion in 2024. However, after adjusting for capital gains realized by one insurer in the prior year, overall investment gains remained stable, according to the report.

Mid-Year Results Finalized Following Adjustments

The report also finalized previously adjusted mid-year results for 2025. Underwriting gains for the first six months of the year totaled $11.6 billion, compared with a $3.8 billion gain during the first half of 2024.

Insurers wrote $489 billion in premiums during the first half of 2025, reflecting a slower growth rate of 5.4%. Earned premiums grew 7.4% to $469 billion. During the same period, incurred losses and loss adjustment expenses increased by 5.4%, compared with a 2.4% increase at mid-year 2024. Policyholders’ surplus rose to $1.13 trillion, up from $1.07 trillion reported at mid-year 2024.

About the Data and Reporting Scope

The figures are based on annual statements filed with insurance regulators by private property and casualty insurers domiciled in the United States. The data exclude state workers’ compensation funds, residual market insurers, the National Flood Insurance Program, and foreign insurers. All figures are net of reinsurance unless otherwise noted and may not balance due to rounding.