Filing Flows › Industries › Insurance Agents, Brokers & Service › Capital spending and supply chain
Insurance Agents, Brokers & Service: capital spending and supply chain
SIC 6411 · 17 companies with filed cash-flow statements
Analysis
17 companies in Insurance Agents, Brokers & Service (SIC 6411) spent $1.4B on capital projects over their latest twelve months, 9% of the $15.2B their operations generated; the three largest spenders — MRSH, AON, WTW — account for 63%.
Capital spending is 1.2% of the industry's $111.7B of annual revenue.
By the industry's asset mix most of it goes to software (64%); about $230M is imported.
The largest supplier of that spending is software publishers ($415M).
Its largest supplying industries, by the input-output tables: insurance agencies, brokerages, and related activities ($38.1B), other real estate ($1.3B), funds, trusts, and other financial vehicles ($1.0B).
Charts
Capital spending by company
| Company | Capital spending | Operating cash flow | Capex / OCF | Period |
|---|---|---|---|---|
| MRSH Marsh & McLennan Companies | $320M | $4.5B | 7% | TTM to Q3 2026 |
| AON Aon | $308M | $3.6B | 9% | TTM to Q3 2026 |
| WTW Willis Towers Watson | $241M | $2.0B | 12% | TTM to Q3 2026 |
| AJG Arthur J. Gallagher | $175M | $3.1B | 6% | TTM to Q3 2026 |
| ERIE Erie Indemnity | $138M | $692M | 20% | TTM to Q3 2026 |
| RYAN Ryan Specialty Holdings | $69.5M | $570M | 12% | TTM to Q3 2026 |
| BWIN Baldwin Insurance Group | $47.1M | $90.8M | 52% | TTM to Q2 2026 |
| CRVL Corvel | $37.3M | $165M | 23% | TTM to Q2 FY27 |
| HGTY Hagerty | $29.6M | $309M | 10% | TTM to Q3 2026 |
| CRD-A Crawford | $7.3M | $79.1M | 9% | TTM to Q3 2026 |
| GSHD Goosehead Insurance | $6.5M | $86.2M | 8% | TTM to Q2 2026 |
| SLQT SelectQuote | $3.9M | $36.3M | 11% | TTM to Q1 FY27 |
| LIFE Ethos Technologies | $1.7M | $113M | 2% | TTM to Q3 2026 |
| RDZN Roadzen | $1.2M | −$22.8M | — | TTM to Q1 FY27 |
| TWFG Twfg | $1.2M | $56.4M | 2% | TTM to Q3 2026 |
| EHTH eHealth | $816K | −$16.4M | — | TTM to Q3 2026 |
| EZRA Reliance Global Group | $11K | −$4.7M | — | TTM to Q2 2026 |
Customers and suppliers named in annual reports
| Supplier | Customer | Share of supplier revenue | Evidence | Source |
|---|---|---|---|---|
| GNW | ACT | 22% | Stated in 10-K (sentence) | filing |
| SLQT | HUM | 39% | Stated in 10-K (sentence) | filing |
| EHTH | Medicare & Medicaid | 96% | Stated in 10-K (sentence) | filing |
| EHTH | HUM | 35% | Stated in 10-K (customer table) | filing |
| TWFG | PGR | 11% | Stated in 10-K (sentence) | filing |
| AMZN | HIT | — | Stated in 10-K (named, share not stated) | filing |
| ACT | GNW | — | Stated in 10-K (named, share not stated) | filing |
The interactive money flow: switch views, follow each dollar →
Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.