Why wholesale brokers are being squeezed as retail consolidation accelerates

The pressure is emerging from a retail channel that’s steadily concentrating. The Big “I” and Future One estimated 39,000 independent property-casualty agencies in the United States in 2024, down from 40,000 in 2022. Their Agency Universe Study also found that one in three agencies expected an ownership change within five years, while 57% identified finding new markets as their leading challenge.