Insurance Business has announced the top wholesale brokers and managing general agents (MGAs) in the United States for 2025. This recognition comes as retail insurance brokers are increasingly collaborating with these wholesale partners to enhance their service offerings.
According to a recent survey by Insurance Business America (IBA), 33% of brokers reported that they conducted at least half of their business through wholesalers or MGAs in the past year. This marks a significant increase from 23.35% in 2024, reflecting a growing trend in the industry. Brokers are looking for specialized knowledge and better access to underwriting options, which these wholesale partners can provide.
To compile the list of standout brokers and MGAs, IBA surveyed retail insurance professionals nationwide. Participants rated their wholesale partners on a scale from 1 (poor) to 5 (excellent) based on ten performance metrics. These included areas such as the ability to handle niche risks, competitive pricing, and the use of technology. Firms that scored an average of 4.0 or higher in any category earned a 5-Star designation, while those excelling across all categories were recognized as All-Star partners.
The survey also asked brokers to name their top three wholesale partners in various insurance lines, awarding gold, silver, and bronze rankings to the leading firms in each category. Additionally, MGAs competed for a "Brokers’ Pick" medal, which highlights the most frequently recommended products.
Among the firms celebrated in the 2025 5-Star list are notable names such as Burns & Wilcox, Johnson & Johnson Insurance, and Risk Placement Services, among others. The full list and detailed profiles of these companies are available on the IBA website.
This recognition underscores the importance of collaboration in the insurance sector, as brokers seek to enhance their offerings and meet the changing needs of their clients. The shift towards wholesale partnerships indicates a strategic move to leverage specialized expertise and improve service delivery in an increasingly competitive market.