insurance research report
How to Research an Insurance Broker
A structured broker research checklist covering authorisation, ownership, placement model, revenue mix, specialisms, acquisitions, client segments, and market access.
Company snapshot
- Broker research is mostly about distribution power, market access, client segment, commission model, specialty expertise, and acquisition strategy.
- Large brokers may combine retail broking, wholesale broking, reinsurance broking, employee benefits, consulting, and MGA investments.
- For smaller brokers, appointed representative status, ownership, client niche, and acquisition history can matter more than headline revenue.
Business model and main segments
Insurance brokers earn revenue by advising clients, placing risks with insurers, managing renewals, and sometimes providing claims, risk advisory, consulting, or delegated authority services. Research should separate organic broking capability from acquired revenue and wholesale placement access.
Why researchers use this
- To understand whether a broker is independent, PE-backed, bank-owned, consolidator-owned, or part of a global group.
- To assess which client segments, geographies, and insurance classes the broker is likely to influence.
- To distinguish true specialty expertise from broad marketing claims.
Public signals to check
- FCA or state licensing status, appointed representative relationships, and trading names.
- Acquisition announcements, office openings, senior hires, and platform integrations.
- Commission, fee, contingent income, or consulting revenue disclosures where available.
- Lloyds broker status, wholesale permissions, coverholder links, or delegated authority relationships.
- Client concentration, sector specialization, and claims service positioning.
Research checklist
- Identify legal entity, trading brands, regulator, ownership, and office footprint.
- Classify the broker as retail, wholesale, reinsurance, benefits, specialty, or mixed.
- Check acquisitions and whether growth appears organic, acquired, or both.
- Review market access signals such as Lloyds broker status, carrier panels, MGA links, and specialty teams.
- Summarize likely buyer/client segments and the broker risks a researcher should verify.
Public source links
- FCA Financial Services Register
Check UK authorisation, permissions, trading names, appointed representatives, and regulatory status.
- Companies House company search
Check UK company filings, accounts, officers, ownership filings, insolvency events, and registered addresses.
- Lloyd's Market Directory
Check Lloyds brokers, coverholders, managing agents, syndicates, and classes of business.
- SEC EDGAR full-text search
Check US-listed company filings, risk factors, annual reports, quarterly reports, and transaction disclosures.
How to turn this into a company profile
Create a one-page note with four labels beside every material statement: verified source, inferred from source, market commentary, or unknown. That keeps the profile useful without overstating what public information can prove.