Revealed – America's top wholesale brokers and MGAs (2024)

Insurance News

By Roxanne Libatique

Wholesale insurance brokers and managing general agents (MGAs) are taking center stage in providing vital coverage solutions to their clients.

Now, Insurance Business America (IBA) is recognizing the cream of the crop for their contributions across emerging markets and their in-depth product knowledge.

Participants were asked to assess their wholesale partners on a variety of critical factors, including the ability to handle niche or emerging risks, compensation, geographical coverage, marketing support, responsiveness, pricing, product range, reputation, technical expertise, and the use of technology. Those achieving an average score of four or above in any category were honored with a 5-Star designation, while those excelling across all criteria received the coveted All-Star title.

Brokers were invited to rank their preferred wholesale brokers and MGAs across 20 major insurance types, alongside identifying the top insurance products offered by MGAs. The feedback culminated in the selection of the top three winners for each insurance category, with gold, silver, and bronze medals awarded accordingly. Additionally, four insurance products were distinguished with the Brokers’ Pick medal based on broker votes.