A.M. BestTV: Top Global Brokers See Shift in Ranks
In this A.M.BestTV episode, growth, acquisitions and new areas of focus are fueling changes among the world's largest brokers, including changes among the top five and new entrants. Patricia Vowinkel, executive editor, Best's Review magazine and Douglas Turk, chief marketing officer, Jardine Lloyd Thompson Group (JLT), assess the changing market. Click on http://www.ambest.com/v.asp?v=brokers716 to view the entire program.
This year's ranking of global brokers, published in the July issue of Best's Review, shows unrelenting competition among the world's largest insurance providers.
"Best's Review produces this list by reaching out to the broker community and asking them to submit their financial information to us," said Vowinkel. "We review their information and do some of our own research by looking at their reported earnings for the year."
The top four spots, led by Marsh & McLennan Cos. and Aon plc, were unchanged from the previous year, but JLT advanced into the top five in 2015. Turk said JLT has been enhancing its presence in the North American market.
"JLT has seen tremendous growth in the first half of this year: 93% year-over-year growth from the first half of 2015 to 2016," said Turk. "This is really due to our specialty focus and primarily not being all things to all people. We know where we play well."
To access a copy of the July issue of Best's Review, go to http://www.bestsreview.com.
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