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Insurance Journal names 10 new firms in Top 100 independent agencies
Combined property and casualty revenue for the Top 100 fell by more than $2 billion from 2024 to 2025, amid M&A and shifting commercial market conditions.
Insurance Journal’s 22nd annual Top 100 Independent Agencies list added 10 new firms this year, including EPIC Insurance Brokers & Consultants, Alera Group, World Insurance Associations LLC, and IMA, while welcoming additional agencies such as Scott Insurance and Bearing Insurance.
The outlet said the combined property and casualty revenue for all 100 firms declined by more than $2 billion from 2024 to 2025. Insurance Journal attributed the drop to factors including M&A activity and changing conditions in the commercial insurance market.
It also noted that some agencies fell off the ranking due to acquisitions, citing examples such as Accession Risk Management Group now part of Brown & Brown, AssuredPartners now part of Arthur J. Gallagher, and Atlas Insurance Agency now part of Marsh.
Insurance Journal said the Top 100 list continues to evolve as privately held agencies increasingly move into ownership structures involving large public brokers and private equity groups, even as broader M&A activity slowed while emerging private equity firms increased their pace.