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Home›Insurance›Industry & Deals›Gallagher tops independently verified benefits broker…

Gallagher tops independently verified benefits broker compensation rankings

The DOL Form 5500 disclosures show the lead among Gallagher, Mercer Health and Benefits, and Lockton changed hands three times from 2015 through 2024.

Friday, September 25, 2026 · Written up by our desk · Industry & Deals

Insurance Business used US Department of Labor Form 5500, Schedule A filings to compile an independently verified ranking of benefits brokers by disclosed compensation from 2015 through 2024, covering 4.3 million broker payment records.

According to the analysis, Gallagher Benefit Services led with $2.96 billion in disclosed compensation, followed by Mercer Health and Benefits at $2.84 billion and Lockton Companies at $2.76 billion.

The outlet said the ranking is a photo finish among the top three firms, and that the lead changed hands three times over the 10-year period.

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Sources

Insurance BusinessBenefits broker compensation rankings: Gallagher wins decade but Lockton surges clear

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