{"id":10231,"date":"2026-01-08T13:06:00","date_gmt":"2026-01-08T12:06:00","guid":{"rendered":"https:\/\/becobra.be\/?p=10231"},"modified":"2026-05-11T15:33:09","modified_gmt":"2026-05-11T13:33:09","slug":"distribution-channels-2024-what-trends-for-brokers-and-large-brokers","status":"publish","type":"post","link":"https:\/\/becobra.be\/en\/distribution-channels-2024-what-trends-for-brokers-and-large-brokers\/","title":{"rendered":"Distribution channels 2024: What trends for brokers and large brokers?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Executive summary<\/strong><\/h2>\n\n\n\n<p>The 2024 data confirm that insurance distribution in Belgium remains structurally stable, with brokers maintaining a central role across the entire market.<\/p>\n\n\n\n<p>However, this stability hides several important evolutions.<\/p>\n\n\n\n<p>On the one hand, the market shows a dual dynamic. Brokerage is under slight pressure in the retail segment, while significantly strengthening its position in the corporate segment, where it remains by far the dominant channel. This confirms the structural role of brokers in complex\u2011risk environments.<\/p>\n\n\n\n<p>On the other hand, brokerage itself is evolving. The growth of large brokers reflects a trend toward greater concentration, specialisation, and economies of scale, particularly in corporate segments.<\/p>\n\n\n\n<p>In addition, marked differences persist across insurance branches. In non\u2011life, brokerage maintains a dominant position. In individual life, bancassurance remains the main channel, reflecting a more competitive and structurally different environment.<\/p>\n\n\n\n<p>Finally, the data confirm that intermediated channels remain central despite digitalisation. Direct channels do not replace brokerage but stabilise at a lower level.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong>Key implication<\/strong><\/strong><\/h2>\n\n\n\n<p>The role of the broker is not diminishing; it is transforming:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>it is strengthening its position in high\u2011value-added segments and complex\u2011risks<\/li>\n\n\n\n<li>it is increasingly exposed to competition on standardised products<\/li>\n<\/ul>\n\n\n\n<p>This evolution demands continuous reinforcement of expertise, customer proximity, and added value.van expertise, klantnabijheid en toegevoegde waarde.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong>A growing insurance market with contrasting dynamics<\/strong><\/strong><\/h2>\n\n\n\n<p>The 2024 edition of Assuralia\u2019s study confirms these developments in insurance distribution in Belgium. Based on an analysis covering around 98% of the market, it highlights both the stability of the overall balances and the transformations underway within the different channels.<\/p>\n\n\n\n<p>In a growing market \u2013 with total premium income reaching \u20ac34.2 billion in 2024 (+8% in nominal terms, or +4.7% in real terms after inflation adjustment) \u2013 the observed dynamics do not indicate a rupture but rather a gradual reconfiguration of roles between actors and segments.<\/p>\n\n\n\n<p>This growth is driven by contrasting developments. Non\u2011life insurance increased by 6.1% and individual life insurance with guaranteed rates by 12.9%, while unit\u2011linked products (Branch 23) recorded a sharp rise of 34.5% in a favourable stock\u2011market context. Conversely, group life insurance declined by 3.6%, mainly due to an exceptional effect observed in 2023.<\/p>\n\n\n\n<p>These developments reflect increased interest in individual savings products while highlighting differentiated dynamics across segments. They are explained in particular by the interest\u2011rate context, financial\u2011market conditions, and certain one\u2011off effects observed in 2023.<\/p>\n\n\n\n<p>A detailed analysis of the results therefore helps clarify how these trends materialise in practice, especially in terms of market shares and channel positioning by product and customer type.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Brokers: The leading distribution channel<\/strong><\/h2>\n\n\n\n<p>Brokers remain the leading distribution channel, with a 52.1% overall market share (life + non\u2011life). Their position is particularly strong in technical and high\u2011value\u2011added segments.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Evolution of broker market shares (2023\u20132024)<\/strong><\/h2>\n\n\n\n<p>In non\u2011life, with a 61.2% market share, brokers remain by far the leading channel, ahead of direct channels (18.1%), exclusive networks (12.3%), and bancassurance (8.4%). A slight erosion is visible among brokers outside the mega\u2011broker category, whose share decreased from 47.1% in 2023 to 46.8% in 2024 (\u20130.6%). Conversely, mega\u2011brokers continued to grow, rising from 13.8% to 14.4% (+4.3%), confirming their increasing weight in corporate segments and complex risks. These developments also reflect growing differentiation within brokerage itself.<\/p>\n\n\n\n<p>In individual life, the brokerage market share decreased slightly from 44.3% to 44.1% (\u20130.45%). Bancassurance remains the leading channel with 46.1%, followed by brokerage (44.1%), exclusive networks (6.4%), and direct channels (3.4%). Sub\u2011branches show contrasting dynamics: in Branches 21 &amp; 26, brokers \u2013 who lost 1.1% market share \u2013 still maintain a strong position (45.5%), slightly behind bancassurance (41.4%). In Branch 23, bancassurance dominates (55.6%), but brokers progressed significantly from 38.8% to 41.3%, confirming their ability to support clients in volatile and technical products.<\/p>\n\n\n\n<p>In group life, brokers also strengthened their presence, rising from 42.9% in 2023 to 43.8% in 2024 (+2.1%). Direct channels remain dominant with 50.2%, while exclusive networks and bancassurance together account for 6.0%. The growth of brokerage in this segment confirms its strategic role with companies and employers, particularly in collective insurance programmes.<strong> <\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Evolution of broker market shares among retail and corporate clients<\/strong><\/h2>\n\n\n\n<p>Between 2023 and 2024, non\u2011life distribution through brokerage shows contrasting developments depending on whether the clients are individuals or businesses.<\/p>\n\n\n\n<p>Among individuals, brokerage\u2019s market share declined slightly from 51.5% in 2023 to 51.0% in 2024. This decrease is mainly due to brokers outside the mega\u2011broker category, whose share fell from 49.0% to 47.9%, while mega\u2011brokers increased modestly from 2.5% to 3.1%. This evolution is explained by renewed dynamism in exclusive networks, which gained 0.67 percentage points at the expense of brokerage.<\/p>\n\n\n\n<p>Conversely, the corporate segment further strengthens brokerage\u2019s dominant position. The total broker market share increased from 72.0% in 2023 to 72.8% in 2024. Brokers outside the mega\u2011broker category rose from 44.9% to 45.6%, while mega\u2011brokers remained stable at a high level (27.1% \u2192 27.2%). This growth occurs in a context where direct channels are declining, directly benefiting independent intermediaries.<\/p>\n\n\n\n<p>Thus, the 2023\u20132024 evolution confirms a dual dynamic: a slight decline in brokerage in the retail market, but a clear and continued strengthening of its central role among businesses, where it remains by far the preferred channel for managing professional risks.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Conclusi<\/strong>on<\/h2>\n\n\n\n<p>The slight decline observed in individual life does not call into question the central role of brokerage but highlights the competitive pressure exerted by other channels, particularly bancassurance. In this context, the brokerage sector \u2013 whether independent firms, mid\u2011sized structures, or mega\u2011brokers \u2013 will need to continue investing in digitalisation, innovation, and advisory quality to maintain its central position in the value chain. Brokerage remains central, but in an increasingly differentiated environment depending on segments and business models.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong><strong>Brokerage market shares between 2020 and 2024<\/strong><\/strong><\/h4>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Total (Life + Non-life)<\/strong><\/td><td><strong>Volume total premium <\/strong>(\u20ac)<strong><\/strong><\/td><td><strong>Brokerage total<\/strong><strong><\/strong><\/td><td>Mega- brokerage<\/td><td>Excl. Mega- brokerage<\/td><td><strong>E<\/strong><strong>xcl<\/strong><strong>usive network<\/strong><strong><\/strong><\/td><td><strong>Banc- assurance<\/strong><strong><\/strong><\/td><td><strong>Direct<\/strong><strong><\/strong><\/td><\/tr><tr><td><strong>2024<\/strong><strong><\/strong><\/td><td>34.2 Mrd<\/td><td>52.1 %<\/td><td>\/<\/td><td>\/<\/td><td colspan=\"2\">28.6 %<\/td><td>19.3 %<\/td><\/tr><tr><td><strong>2023<\/strong><strong><\/strong><\/td><td>31.7 Mrd<\/td><td>52 %<\/td><td>\/<\/td><td>\/<\/td><td colspan=\"2\">27.2 %<\/td><td>20.7 %<\/td><\/tr><tr><td><strong>2022<\/strong><strong><\/strong><\/td><td>29.9 Mrd<\/td><td>52 %<\/td><td>\/<\/td><td>\/<\/td><td colspan=\"2\">28.4 %<\/td><td>19.6 %<\/td><\/tr><tr><td><strong>2021<\/strong><strong><\/strong><\/td><td>29.3 Mrd<\/td><td>52.8 %<\/td><td>\/<\/td><td>\/<\/td><td colspan=\"2\">27.6 %<\/td><td>19.6 %<\/td><\/tr><tr><td><strong>2020<\/strong><strong><\/strong><\/td><td>28.1 Mrd<\/td><td>52.1 %<\/td><td>\/<\/td><td>\/<\/td><td colspan=\"2\">27.4 %<\/td><td>20.5 %<\/td><\/tr><tr><td><strong>Non-life<\/strong><strong><\/strong><\/td><td><strong>Volume total premium &nbsp;<\/strong>(\u20ac)<strong><\/strong><\/td><td><strong>Brokerage total<\/strong><strong><\/strong><\/td><td>Mega- brokerage<\/td><td>Excl. Mega- brokerage<\/td><td><strong>E<\/strong><strong>xcl<\/strong><strong>usive network<\/strong><strong><\/strong><\/td><td><strong>Banc- assurance<\/strong><strong><\/strong><\/td><td><strong>Direct<\/strong><strong><\/strong><\/td><\/tr><tr><td><strong>2024<\/strong><strong><\/strong><\/td><td>16.2 Mrd<\/td><td>61.2 %<\/td><td>46.8 %<\/td><td>14.4 %<\/td><td>12.3 %<\/td><td>8.4 %<\/td><td>18.1 %<\/td><\/tr><tr><td><strong>2023<\/strong><strong><\/strong><\/td><td>15.3 Mrd<\/td><td>60.9 %<\/td><td>47.1 %<\/td><td>13.8 %<\/td><td>12.3 %<\/td><td>8.5 %<\/td><td>18.4 %<\/td><\/tr><tr><td><strong>2022<\/strong><strong><\/strong><\/td><td>14.0 Mrd<\/td><td>60.9 %<\/td><td>47.4 %<\/td><td>13.6 %<\/td><td>12.3 %<\/td><td>8.5 %<\/td><td>18.4 %<\/td><\/tr><tr><td><strong>2021<\/strong><strong><\/strong><\/td><td>13.3 Mrd<\/td><td>60.9 %<\/td><td>47.9 %<\/td><td>12.9 %<\/td><td>12.2 %<\/td><td>8.1 %<\/td><td>18.8 %<\/td><\/tr><tr><td><strong>2020<\/strong><strong><\/strong><\/td><td>12.6 Mrd<\/td><td>60.9 %<\/td><td>48 %<\/td><td>12.9 %<\/td><td>12 %<\/td><td>8.1 %<\/td><td>19 %<\/td><\/tr><tr><td><strong>Individual life<\/strong><strong><\/strong><\/td><td><strong>Volume total premium <\/strong>(\u20ac)<strong><\/strong><\/td><td><strong>Brokerage total<\/strong><strong><\/strong><\/td><td>Mega- brokerage<\/td><td>Excl. Mega- brokerage<\/td><td><strong>E<\/strong><strong>xcl<\/strong><strong>usive network<\/strong><strong><\/strong><\/td><td><strong>Banc- assurance<\/strong><strong><\/strong><\/td><td><strong>Direct<\/strong><strong><\/strong><\/td><\/tr><tr><td><strong>2024<\/strong><strong><\/strong><\/td><td>11.5 Mrd<\/td><td>44.1 %<\/td><td>1.1 %<\/td><td>42.9 %<\/td><td>6.5 %<\/td><td>46.1 %<\/td><td>3.4 %<\/td><\/tr><tr><td><strong>2023<\/strong><strong><\/strong><\/td><td>9.6 Mrd<\/td><td>44.3 %<\/td><td>1.2 %<\/td><td>43.1 %<\/td><td>7 %<\/td><td>45.6 %<\/td><td>2.7 %<\/td><\/tr><tr><td><strong>2022<\/strong><strong><\/strong><\/td><td>9.8 Mrd<\/td><td>44.6 %<\/td><td>1.3 %<\/td><td>43.4 %<\/td><td>7 %<\/td><td>45.4 %<\/td><td>2.7 %<\/td><\/tr><tr><td><strong>2021<\/strong><strong><\/strong><\/td><td>10.2 Mrd<\/td><td>48.6 %<\/td><td>2.2 %<\/td><td>46.5 %<\/td><td>6.95 %<\/td><td>42.1 %<\/td><td>2.8 %<\/td><\/tr><tr><td><strong>2020<\/strong><strong><\/strong><\/td><td>9.4 Mrd<\/td><td>46.7 %<\/td><td>12.2 %<\/td><td>48.7 %<\/td><td>7.1 %<\/td><td>43.1 %<\/td><td>3.1 %<\/td><\/tr><tr><td><strong>Group life<\/strong><strong><\/strong><\/td><td><strong>Volume total premium <\/strong>(\u20ac)<strong><\/strong><\/td><td><strong>Brokerage total<\/strong><strong><\/strong><\/td><td>Mega- brokerage<\/td><td>Excl. Mega- brokerage<\/td><td><strong>E<\/strong><strong>xcl<\/strong><strong>usive network<\/strong><strong><\/strong><\/td><td><strong>Banc- assurance<\/strong><strong><\/strong><\/td><td><strong>Direct<\/strong><strong><\/strong><\/td><\/tr><tr><td><strong>2024<\/strong><strong><\/strong><\/td><td>6.5 Mrd<\/td><td>43.8 %<\/td><td>18.6 %<\/td><td>25.2 %<\/td><td colspan=\"2\">6 %<\/td><td>50.2 %<\/td><\/tr><tr><td><strong>2023<\/strong><strong><\/strong><\/td><td>6.8 Mrd<\/td><td>42.9 %<\/td><td>18.7 %<\/td><td>24.3 %<\/td><td colspan=\"2\">5.7 %<\/td><td>51.3 %<\/td><\/tr><tr><td><strong>2022<\/strong><strong><\/strong><\/td><td>6.1 Mrd<\/td><td>43.2 %<\/td><td>19.8 %<\/td><td>23.5 %<\/td><td colspan=\"2\">7.2 %<\/td><td>49.6 %<\/td><\/tr><tr><td><strong>2021<\/strong><strong><\/strong><\/td><td>5.9 Mrd<\/td><td>41.5 %<\/td><td>17.9 %<\/td><td>23.7 %<\/td><td colspan=\"2\">7.7 %<\/td><td>50.7 %<\/td><\/tr><tr><td><strong>2020<\/strong><strong><\/strong><\/td><td>6.0 Mrd<\/td><td>42 %<\/td><td>17.4 %<\/td><td>24.7 %<\/td><td colspan=\"2\">7.1 %<\/td><td>50.7 %<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><em>Source: Assuralia &#8211; Distributiekanalen van de verzekering &#8211; Cijfers <a href=\"https:\/\/cms.assuralia.be\/sites\/default\/files\/2025-12\/NL-distributie-2024_0.pdf\" target=\"_blank\" rel=\"noopener\">2024<\/a> &#8211; <a href=\"https:\/\/cms.assuralia.be\/sites\/default\/files\/2024-12\/NL-distributie-2023.pdf\" target=\"_blank\" rel=\"noopener\">2023<\/a> &#8211; <a href=\"https:\/\/cms.assuralia.be\/sites\/default\/files\/2024-01\/NL-distributie-2022.pdf\" target=\"_blank\" rel=\"noopener\">2022<\/a> &#8211; <a href=\"https:\/\/files.assuralia.be\/stats\/NL\/01_Assuraliastudies\/NL_distributie_2021.pdf\" target=\"_blank\" rel=\"noopener\">2021<\/a> &#8211; <a href=\"https:\/\/files.assuralia.be\/stats\/NL\/01_Assuraliastudies\/NL_distributie_2020.pdf\" target=\"_blank\" rel=\"noopener\">2020<\/a><\/em> <em>and Assuralia &#8211; Canaux de distribution de l\u2019assurance &#8211; Chiffres <a href=\"https:\/\/cms.assuralia.be\/sites\/default\/files\/2025-12\/FR-distribution-2024.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">2024<\/a> &#8211; <a href=\"https:\/\/cms.assuralia.be\/sites\/default\/files\/2024-12\/FR-distribution-2023.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">2023<\/a> &#8211; <a href=\"https:\/\/cms.assuralia.be\/sites\/default\/files\/2024-01\/FR-distribution-2022.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">2022<\/a> &#8211; <a href=\"https:\/\/files.assuralia.be\/stats\/FR\/01_etudes-Assuralia\/FR_distribution_2021.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">2021<\/a> &#8211; <a href=\"https:\/\/files.assuralia.be\/stats\/FR\/01_etudes-Assuralia\/FR_distribution_2020.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">2020<\/a><\/em><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Executive summary The 2024 data confirm that insurance distribution in Belgium remains structurally stable, with brokers maintaining a central role across the entire market. However, this stability hides several important evolutions. On the one hand, the market shows a dual dynamic. Brokerage is under slight pressure in the retail segment, while significantly strengthening its position [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":10226,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45,46,49],"tags":[83,91],"rol":[81],"class_list":["post-10231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-insurance","category-non-life-insurance","category-studies-and-statistics","tag-private","tag-slotje","rol-standaard-lid"],"acf":[],"_links":{"self":[{"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/posts\/10231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/comments?post=10231"}],"version-history":[{"count":6,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/posts\/10231\/revisions"}],"predecessor-version":[{"id":10249,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/posts\/10231\/revisions\/10249"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/media\/10226"}],"wp:attachment":[{"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/media?parent=10231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/categories?post=10231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/tags?post=10231"},{"taxonomy":"rol","embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/rol?post=10231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}