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Best's Review presents its annual ranking of global insurance brokers, based on 2016 total revenue.
The top 20 brokers are presented according to ranking, some of the other brokers that participated follow in alphabetical order.
Marsh and Aon and three other brokers retained their 2015 ranking, the remaining 15 all changed places. Ten brokers moved up in rank and four dropped. Acrisure LLC debuted in the top 20.
Willis Towers Watson re-gained its No. 3 ranking switching places with Arthur J. Gallagher. BB&T Insurance Holdings Inc. moved into the top five. After holding the No. 5 spot last year Jardine Lloyd Thompson dropped to No. 8. AssuredPartners made the largest jump, moving up four spots to No. 14. Wells Fargo Insurance, which held the No. 9 spot last year, declined to participate.
Information used in this ranking was provided by the companies. Some brokers declined to provide information. Revenues have been rounded and are expressed in U.S. dollars. Currency conversion is as of Dec. 31,2016.
1. Marsh & McLennan Cos.
Headquarters: New York
Revenue 2016: $13.21 billion
Top Executive: Daniel S. Glaser, president and CEO
Top Lines: Insurance and reinsurance broking; human resource consulting; management consulting
Developments in 2016: Risk & Insurance Services (Marsh and Guy Carpenter) revenue was $7.1 billion. Completed 15 acquisitions in 2016, including Marsh's acquisition of U.K.based Bluefin Insurance Group Ltd., and Mercer's acquisition of Thomsons Online Benefits. Substantial investments to enhance geographic footprint, segments and capabilities. Examples Include expansion throughout Latin America, Asia, the Middle East and South Africa; Marsh's build-out of Marsh & McLennan Agency and U.K.-based SME Insurance Services strategy; the emergence of Marsh and Guy Carpenter in the cyber, flood and mortgage practices; investments at Mercer, such as workday implementation capabilities, global health and benefits technology and the Mercer Marketplace Health Exchange; and investments in Oliver Wyman and its digital technology and analytics platform.
2. Aon pic
Headquarters: London
Revenue 2016: $11.63 billion
Top Executive: Greg Case, president and CEO
Top Lines: Property; casualty; directors and officers
Developments in 2016: Acquired risk management firm Stroz Friedberg; launched a suite of services around cyber, Including the Aon Cyber Enterprise Solution, Aon Cyber...