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Q2 2026 Insurance Brokerage market review

Insurance Brokerage is steady this window, with 340 buys in the last 3 years vs 349 prior across 97 public acquirers.

Generated May 26, 2026, 10:59 PMSource packet: market reviewSE-Cluster evidence packet

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Market thesis

[1][2]
2 cites
Active consolidators disclose steady agency cadence, small-to-mid deal size discipline, and repeated language around talent and geographic expansion.

[1] 10-K· 2026-02-12

FY 2025 strategy language. In 2025, we expanded our team by nearly 5,794 teammates through 43 acquisitions.

[2] 10-K· 2026-02-12

FY 2025 strategy language. partnerships with colleges and a robust internship program enable us to cultivate new talent.

Buyer hierarchy

[1][2][3]
3 cites
BRO, CB, MRSH, AON, AJG lead the current buyer hierarchy with 2,111 recorded buys among ranked acquirers.

[1] 10-K· 2026-02-12

FY 2025 strategy language. In 2025, we expanded our team by nearly 5,794 teammates through 43 acquisitions.

[2] 10-K· 2026-02-12

FY 2025 strategy language. partnerships with colleges and a robust internship program enable us to cultivate new talent.

[3] 10-K· 2026-02-12

FY 2024 strategy language. In 2024, we expanded our team by nearly 1,000 teammates through 32 acquisitions.

Filing signals

[1][2][3][4]
4 cites
Brown & Brown, Inc.: 507 recorded buyer-side acquisition reference(s); filings read as very active buyer activity. Marsh & McLennan Companies, Inc.: 263 recorded buyer-side acquisition reference(s); filings read as very active buyer activity. Aon plc: 160 recorded buyer-side acquisition reference(s); filings read as very active buyer activity. Arthur J. Gallagher & Co.: 699 recorded buyer-side acquisition reference(s); filings read as very active buyer activity. Ryan Specialty Holdings, Inc.: 15 recorded buyer-side acquisition reference(s); filings read as very active buyer activity.

[1] 10-K· 2026-02-12

FY 2025 strategy language. In 2025, we expanded our team by nearly 5,794 teammates through 43 acquisitions.

[2] 10-K· 2026-02-12

FY 2025 strategy language. partnerships with colleges and a robust internship program enable us to cultivate new talent.

[3] 10-K· 2026-02-12

FY 2024 strategy language. In 2024, we expanded our team by nearly 1,000 teammates through 32 acquisitions.

[4] 10-K· 2026-02-09

FY 2004 strategy language. In July 2004, MMC acquired Kroll, Inc., the world's leading provider of risk mitigation services.