Best Wholesale Brokers USA | 5-Star Wholesale Brokers and MGAs

The surplus lines sector’s growing role as for the property and casualty (P/C) insurance industry is reflected in providing more customized solutions for high-risk exposures that standard markets shy away from. Drivers of this include climate change and cybersecurity.

The Wholesale & Specialty Insurance Association (WISA) 2024 Market Segment Report on the US Surplus Lines also shows an upturn and the following findings:

• Growth of 17.4 percent in surplus lines direct premium written in 2023, a new record of $115.6 billion (up from $98.5 billion in 2022). 
  
   

• Surplus lines insurers, in aggregate, reported another year of improved underwriting and operating results in calendar year 2023, with most performance metrics far outpacing the broader P&C industry.
  
   

• Domestic professional surplus lines insurers continue to maintain a higher proportion of secure ratings than the overall property/casualty industry.

A report by global investment management firm Conning shows that the excess and surplus (E&S) market has seen a 21 percent compound annual growth rate over the past five years. It also states that 2020–24 represented the longest duration in history when E&S premium growth exceeded the overall market. This trend is expected to continue due to flexible regulations and the proliferation of more powerful technology such as AI.

The standout need for wholesale brokers and MGAs is reinforced by IBA’s 2025 data, which shows that brokers seek them out primarily for coverage or a market they don’t have access to. The other leading reasons were also linked, notably a very specific coverage and specialty coverage.

Thousands of retail brokers across the US determined the best in the business, who were awarded 5-Star status by IBA. The brokers rated their wholesale partners and MGAs’ performance in 10 criteria and those that received an average score of 4 or greater in all categories were given the prestigious All-Star designation.

Monarch E&S Insurance Services is a winner that exemplifies an understanding of what brokers want and have positioned itself as an expert in meeting the needs of affluent individuals with its specialized high-net-worth personal lines practice covering:

• home
  
   

• jewelry/fine art
  
   

• personal umbrella
  
   

• flood

Company president Yiana Stavrakis says, “Unlike many competitors who focus more heavily on large accounts, Monarch excels in offering tailored solutions for small to mid-market risks in commercial lines.”

The firm, which was founded in Burbank, CA and now has offices nationwide, is held in such high regard because it takes all specialty requests as “research projects”.

“We are always open to exploring new, niche coverage opportunities and for each request, we assess the viability and potential distribution of unique coverage options,” says Stavrakis.

An example is how Monarch developed its own personal umbrella program when many admitted markets withdrew from offering this coverage in certain geographies. 

Stavrakis adds, “We’re committed to finding new program opportunities that help meet the evolving needs of our clients across the country.”

 

“We prioritize training and development through various opportunities, including leadership and technical training. Our team is always evolving, ensuring we stay aligned with industry standards and emerging trends”

Yiana StavrakisMonarch E&S Insurance Services

Another of the 5-Star winners, Wholesure, is also an exponent of delivering in specializations. P&C managing director Brian Fischer explains that with such a wide range of products, the firm can assist clients’ specific needs.

“We have over 650 markets and a big footprint of products that we can push, whether that’s in transactional, open brokerage, contract binding, or through programs. There’s a lot of products that we’re able to bring to the marketplace where we have delegated binding authority.”

Similarly standing out is Gorst & Compass, one of the larger independent wholesalers in California. It was founded in 1968 and has used location and legacy to prosper.

Over the previous two years, the company has seen organic growth of 24 percent and 27 percent, and expects double-digit growth in 2025.

“California is the largest E&S state and that gives us a great opportunity to write a lot of non-emitted business, specialty insurance. We’re really on top of California and understand it. I think it’s the best market in the United States in terms of opportunity for wholesale and its full steam ahead in certain product lines,” explains president Bryan Clark. “We’ve had a run of a firm market in California and a lot of business leaving the standard markets, and that is often written now in our specialty lines, wholesale side.”

While wholesalers and MGAs across the industry have embraced technology, the top performers tailor their solutions to enable efficiencies and better performance. Wholesure stands out in this area because it invested heavily in tech 15 years ago. 

“The thinking was, we write close to $2.8 billion in premium and a good portion of that is SME business, so how do we allow agents to get a response in real time?,” says Fischer.

The firm’s tech is bespoke, ensuring that it delivers exactly what Fischer and his team require.

“We have built online, digital platforms for workers’ compensation, small contractors, coastal property and even for that difficult-to-place personal lines coverage, with things like homeowners, flood, and personal article floaters,” he says.

Wholesure maintains its competitive edge by refining and adding features to its tech, as it has a marketing and sales team that meets agents on a daily basis.

“They spend a lot of time showing [agents] what the platform looks like and how to interact with it. We get feedback from that and implement it,” says Fischer. “It’s a big differentiator as the agents that we work with appreciate it because they’re able to place that small SME business without a lot of friction.”

 

“It’s been rewarding driving a new brand in the marketplace. We’re having success and grew quite a bit in 2024 and have very aggressive growth goals for 2025”

Brian FischerWholesure

Gorst & Compass has also placed tech at the heart of its operations. The firm has an ongoing process of scanning the market to see what they embrace to drive efficiency and improve their customer experience even more.

Clark explains, “We have great internal tools that we use to help deliver the quickest solutions we can to our retailers. We’re really big on APIs and third-party data, so that we can hit the market as quickly as we can, paying the different carriers with an API solution and bringing that back into our platform. Then, we can quickly see where we need to be and get those indications and quotes out to our retailers.”

Any analysis of tech in 2025 involves some element of AI, and Gorst & Compass is studying developments. However, the company remains cautious to ensure that it makes a meaningful contribution.

“We’re always looking at technology options and if it makes a difference right now,” says Clark. “With AI, we’re watching some things very closely to help offer a better customer experience. I think that’s the next big thing in our space and we’re trying to understand it.”

Also keeping pace is Monarch, which stays ahead of industry changes in both product offerings and technology by being committed to continuous improvement.

Stavrakis says, “We take pride in our ability to create innovative products that meet market demands, and as we progress with our digital transformation, we will enhance both the efficiency and accessibility of our services for clients and employees alike.”

The E&S lines industry saw significant growth in 2024, benefiting from rate increases and constraints in the standard market. According to WSIA’s annual reports, premiums rose by 12.1 percent in 2024, following a 14.6 percent increase in 2023. Monarch responded to this state of play and is mindful of its role in the wider economy.

“We’ve navigated challenges with resilience, especially during catastrophic events like the devastating California fires in January 2025,” says Stavrakis. “This was an emotionally taxing period, but we were proud of our ability to provide critical support to both our clients and employees through these challenging times.”

The firm provides what it calls ‘The Royal Treatment’ to retail brokers. 

Stavrakis adds, “We have established service level standards to ensure responsiveness, and as we continue to deploy technology enhancements in the coming years, our ability to provide speed to market and superior service will only improve.”

Being independent is a feather in the cap for Gorst & Compass, as it has enabled the company to move with the market.

“Due to our size and scale, we’re able to compete with anybody with any product, and because of who we are, we’re able to pivot quicker and maybe take advantage of certain opportunities in the marketplace because of that independence,” says Clark. “We can make those decisions quicker.”

 

“Speed and service is really the name of the game, and the true differentiator of how we run the business”

Bryan ClarkGorst & Compass

It’s the firm’s connections and network that are fundamental to its success. Clark is also confident that Gorst & Compass has the best carrier partnerships and relationships compared to any of its largest competitors.

“The absolute key is having the right carrier appointments. We’ve been able to align ourselves with these carriers to be successful. Without the carrier appointments, we have no product to offer,” he says.

As a 5-Star winner for the fourth year in a row, Gorst & Compass is set to remain a leading name in the industry.

Clark adds, “There is tremendous opportunity and we have a tremendous growth plan and are really looking forward to the rest of the year.”

Wholesure has a similar mindset and has been recognized for its impact as a brand since forming in June 2024, as previously it was a collective of different agencies. Wholesure’s rapid ascent and success is due in no small part to its active recruitment of specialists. 

“We’ve recruited very heavily in the construction, transportation, and property areas, and seen a lot of traction there. We’ve got a terrific open brokerage team for financial lines and professional liability,” says Fischer. “The big stuff has been marketing, branding, formation of the team, and pushing hard to bring more specialists into our group to deliver value and solutions for our customers.”

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