Insurance Business Canada (IBC) has unveiled its newly named 5-Star Brokerages 2023.

The awards recognise brokerages that have solidified their position as industry leaders by setting new benchmarks in the province.

IBC identified this year’s winners by asking eligible brokerages to provide key details about their business in 2021 and 2022. To be eligible, brokerages must have three or more brokers.

Criteria

Each brokerage was ranked based on eight criteria:

• revenue;
• revenue growth;
• revenue per broker;
• number of clients;
• number of new clients;
• client growth;
• policies written; and
• policy growth.

Akin to a gold score, the brokerages with the lowest overall scores achieved the highest rankings. The ranking system rewarded brokerages based on business per broker rather than a critical mass to ensure that the best brokerages stood out, regardless of their size.

Top insurance brokerages in Canada

Some of the 5-Star Brokerages in Canada, are

• Lake City Insurance
• Westland Insurance

Discover the winners and what made them stand out among their competitors by reading the IBC 5-Star Brokerages - 2023 special report.