undamentalytics Newsletter

Insurance Brokers stocks

23 US-listed companies in insurance brokers, with $89.8bn of combined revenue in their latest fiscal years. Marsh McLennan is the largest ($27.0bn). The fastest grower with at least $100m of revenue in both years is Ethos Technologies Inc., up 52.0%. The median company grew 16.7% with a net margin of 8.9%.

Companies23
Combined revenue$89.8bn
Median revenue growth16.7%
Median net margin8.9%
Median return on equity11.5%
#CompanyRevenueGrowthNet marginROEFiscal year
1 Marsh McLennanMRSH $27.0bn 10.3% 15.4% 28.8% 2025
2 Aon plcAON $17.2bn 9.4% 21.5% 47.8% 2025
3 Arthur J. Gallagher & Co.AJG $13.9bn 20.7% 10.7% 6.9% 2025
4 Willis Towers WatsonWTW $9.7bn −2.2% 16.5% 20.2% 2025
5 Brown & BrownBRO $5.9bn 22.8% 17.9% 11.1% 2026
6 Erie IndemnityERIE $4.1bn 7.2% 13.8% 26.2% 2025
7 Ryan Specialty Holdings, Inc.RYAN $3.1bn 21.3% 2.1% 9.9% 2025
8 Selectquote, Inc.SLQT $1.6bn 6.0% 3.8% 17.7% 2026
9 Baldwin Insurance Group, Inc.BWIN $1.5bn 8.3% −2.2% −5.7% 2025
10 Hagerty, Inc.HGTY $1.5bn 17.3% 10.2% 80.3% 2025
11 Crawford & CoCRD.A $1.3bn −2.2% 1.5% 11.9% 2025
12 Accelerant HoldingsARX $913m 51.5% −156.1% — 2025
13 Ehealth, Inc.EHTH $554m 4.1% 7.2% 6.8% 2025
14 Ethos Technologies Inc.LIFE $388m 52.0% 18.4% — 2025
15 Goosehead Insurance, Inc.GSHD $365m 16.2% 7.6% — 2025
16 Twfg, Inc.TWFG $249m 22.0% 3.2% 10.1% 2025
17 Huize Holding LtdHUIZ $220m 26.8% 0.3% 1.0% 2025
18 Neptune Insurance Holdings Inc.NP $160m 33.7% 23.4% — 2025
19 Roadzen Inc.RDZN $55m 24.2% −40.9% — 2026
20 Xchange Tec.incXHG $51m 26.5% −204.9% — 2025
21 Zhibao Technology Inc.ZBAO $38m 51.0% −22.4% −140.3% 2025
22 Health In Tech, Inc.HIT $33m 71.0% 3.8% 8.4% 2025
23 Reliance Global Group, Inc.EZRA $12m −11.6% −56.2% −148.3% 2025

Medians cover companies with at least $100m of revenue (growth: in both years). Growth is the latest fiscal year against the year before and includes acquisitions.

Other financials industries

Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.