The global market for insurance broking saw significant growth in 2021, recording a revenue of around US$137.6 billion from total fees and commissions earned, a report from marketing consultancy Insuramore revealed.
This is an increase of about US$122.3 billion from 2020, amounting to a growth rate of almost 12.5% or about 8% when adjusted for inflation.
Around US$62 billion came from commercial P&C, while around US$13.2 billion was from private P&C. Additionally, employee benefits plus life and health insurance made up $US46.4 billion of the market value, while reinsurance and wholesale accounted for US$5.5 billion and US$10.5 billion, respectively.
