2025 5-Star Wholesale Brokers and MGAs Revealed
Insurance Business America has released its 2025 5-Star Wholesale Brokers and MGAs report, indicating a significant shift in the insurance landscape. The report highlights the growing reliance of retail brokers on wholesale partners and Managing General Agents (MGAs), especially within the expanding U.S. excess and surplus (E&S) lines market.
The survey data shows a notable increase in the use of wholesale partners. According to the report, 33% of the brokers surveyed now conduct over half their business through these partners, a considerable jump from 23.35% the previous year. This trend is supported by a surge in premiums within the E&S sector.
The Wholesale & Specialty Insurance Association (WSIA) reported a 17.4% rise in surplus lines direct premium written in 2023, reaching a record $115.6 billion. This follows a $98.5 billion total in 2022. Investment firm Conning noted the E&S sector’s impressive performance, with a 21% compound annual growth rate over the past five years, exceeding the overall property and casualty market. This growth is attributed to factors such as regulatory flexibility and the implementation of new technologies like AI.
Several firms have been recognized for their achievements. Monarch E&S, Wholesure, and Gorst & Compass were awarded 5-Star status based on their performance across multiple criteria, including product range, technological innovation, and capacity to handle niche risks.
Monarch E&S President Yiana Stavrakis highlighted the firm’s commitment to providing solutions for mid-market clients and developing niche programs. One notable example is a specialized personal umbrella product created during market adjustments.
Wholesure, formed in 2024 through a merger, garnered recognition for its proprietary digital platforms and aggressive recruitment of specialists. Gorst & Compass has shown consistent growth, achieving over 25% organic growth for two consecutive years, supported by its strong California presence, carrier partnerships, and API-driven quoting technology.
