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Insurance Brokers & Agencies in Washington

Author.Name IBISWorld United States Last Updated: April 2025 NAICS WA52421

Insurance Brokers & Agencies in Washington industry analysis

The Insurance Brokers & Agencies industry in Washington is expected to grow an annualized x.x% to $x.x billion over the five years to 2025, while the national industry will likely grow at x.x% during the same period. Industry establishments increased an annualized x.x% to x,xxx locations. Industry employment has increased an annualized x.x% to x,xxx workers, while industry wages have increased an annualized x.x% to $x.x billion.

Over the five years to 2030, the industry is expected to grow an annualized x% to $x.x billion, while the national industry is expected to grow x.x%. Industry establishments are forecast to grow x.x% to x,xxx locations. Industry employment is expected to increase an annualized x.x% to x,xxx workers, while industry wages are forecast to increase x% to $x.x billion.

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About the Insurance Brokers & Agencies in Washington Market Research Report

What’s Included in the Insurance Brokers & Agencies in Washington Market Research Report

Definition of the Insurance Brokers & Agencies in Washington?

This industry includes individuals and businesses acting as agents or brokers selling insurance policies and annuities. Industry participants earn commission income, mostly as a percentage of the insurance policy premium. They also earn income from fees for risk management consulting and other value-added services. This industry only consists of independent brokers and agencies.

What’s included in the Insurance Brokers & Agencies in Washington?

The Insurance Brokers & Agencies in Washington includes property and casualty insurance policy brokerage, health and medical insurance brokerage, life and accident insurance brokerage, reinsurance brokerage and administration, annuity brokerage, risk management consulting and insurance administration services. Related terms covered in the Insurance Brokers & Agencies in Washington industry report includes an independent agent who represents the buyer during an insurance transaction by trying to find the best policy in regard to coverage and pricing; insurance brokers do not represent the insurer, an individual licensed by a state to sell insurance products and services for one or more specific insurance carriers or companies, an arrangement in which the insurer pays an insurance broker for business placement. these arrangements have been deemed inappropriate because of the conflict of interest that they cause, a market in which insurance prices are increasing. insurance markets harden when demand for insurance surpasses supply. the supply of insurance depends on insurers' capital positions and a market in which insurance prices are falling. insurance markets soften when strong balance sheets cause the supply of insurance to exceed demand.

Industry Performance of the Insurance Brokers & Agencies industry in Washington

Benchmark the Insurance Brokers & Agencies in Washington industry performance with all WA county and national performance.

Insurance Brokers & Agencies in Washington

#13 in Highest Revenue 1.9% of state's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Insurance Brokers & Agencies in the US


Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

For the full list of industry drivers, see report purchase options.

Key Drivers of the Insurance Brokers & Agencies industry in Washington

See how key industry drivers, such as population, median houshold income, new business formation, homeownership rate, number of people with private health insurance and per capita disposable income are impacting Insurance Brokers & Agencies in Washington

Washington Economic Indicators

Population
Median Houshold Income
New Business Formation

View more economic information in WA State Economic profile

US Key External Drivers

Homeownership rate
Number of people with private health insurance
Per capita disposable income

For the full list of industry drivers, see report purchase options.

County Data of the Insurance Brokers & Agencies industry in Washington

Access proprietary data on county in the Insurance Brokers & Agencies in Washington, such as King County, Pierce County and Spokane County. Data includes figures on revenue, establishments, employees and wages by counties.

Key Statistics of the Insurance Brokers & Agencies industry in Washington

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Insurance Brokers & Agencies industry in Washington in 2025?

The market size of the Insurance Brokers & Agencies industry in Washington is $4.6bn in 2025.

How many businesses are there in the Insurance Brokers & Agencies industry in Washington in 2025?

There are 8,653 businesses in the Insurance Brokers & Agencies industry in Washington, which has been growing at an average annual rate of 0.1% from 2020 to 2025.

Has the Insurance Brokers & Agencies industry in Washington grown or declined over the past 5 years?

The market size of the Insurance Brokers & Agencies industry in Washington has been growing at an average annual rate of 3.4% from 2020 to 2025.

How many employees in the Insurance Brokers & Agencies industry in Washington in 2025?

There are 22,923 employees in the Insurance Brokers & Agencies industry in Washington, which has been growing at an average annual rate of 2.5% from 2020 to 2025.