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NAICS 524210

Insurance Agencies & Brokerages

Key Figures

Establishments
133,728
Census CBP · 2023
Employment
818,561
Census CBP · 2023
Market size
$194.3B
Census Economic Census · 2022

Figures are published for NAICS 524210 directly.

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Official definition

This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) in selling annuities and insurance policies.

Source: US Census Bureau, 2017 NAICS Definitions. Public domain.

Which code does this activity belong in?

Insurance agencies and brokerages sell annuities and insurance policies as agents or brokers on behalf of insurers. Establishments that primarily perform support services related to insurance, such as claims adjusting, actuarial services, or third-party administrative services, are classified in Other Insurance Related Activities instead.

VantaInsights Analysis AI-drafted

Where this sits

52 Finance and Insurance524 Insurance Carriers and Related Activities5242 Agencies, Brokerages, and Other Insurance Related Activities52421 Insurance Agencies and Brokerages

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valuation
Insurance Agency Valuation: 2026 Multiples & Data

What is an insurance agency worth? Under $1M of EBITDA agencies trade at 5x to 7x, not the 12x in the headlines. Average agency revenue $1.44M (Census EC 2022).

profit-margins
Insurance Agency Profit Margins: 2026 Industry Benchmarks & Data

Insurance agency net profit margin averages 14.3% (IRS SOI, 2022). What drives it, how margins vary by agency size and model, and sector comparison.