HEADQUARTERS: Cleveland

2011 U.S. BROKERAGE REVENUES: $159,900,000

CBIZ Benefits & Insurance Services is the fifth-largest broker headquartered in the Midwest, based on 2011 brokerage revenues of $159.9 million. About 42% of its business is from its home region.

More than 70% of Cleveland-based CBIZ's client base is middle market, which the broker defines as employers with 50 to 2,500 employees generating between $10 million and $250 million in annual revenue. Because middle-market organizations often lack the internal resources to manage risk and benefits in-house, CBIZ offers tools and consulting services to these entities, many of which face the same critical risk and insurance issues of upper-market companies, said Mark Dixon, national marketing director.

“We also work with them to develop and implement effective strategies for their employee benefits and retirement plans from both cost-control and recruiting/retention perspectives,” he said.

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HEADQUARTERS: Chicago

2011 U.S. BROKERAGE REVENUES: $570,909,008

Although Hub International Ltd. is the fourth-largest broker based in the Midwest, based on U.S. brokerage revenue of $570.9 million, most of its business comes from the East and West coasts, according to Julie Zimmer, vice president of sales and Chicago-based middle-market business segment leader.

Hub defines middle-market accounts as those with between $10 million and $1 billion in annual revenue and with 100 to 3,000 employees. Those businesses represent all industry segments and face many of the same exposures as large companies, Ms. Zimmer said.

In addition to traditional property/casualty and benefits, Hub also offers its middle-market accounts data breach, international, trade credit, marine and other coverages.

“We try to focus in on what their key business drivers are and build our solutions around that,” Ms. Zimmer said.

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HEADQUARTERS: Kansas City, Mo.

2011 U.S. BROKERAGE REVENUES: $633,082,100

Lockton Co. L.L.C. is the third-largest commercial insurance broker based in the Midwest, based on its 2011 brokerage revenues of $633.1 million.

The Kansas City, Mo.-based broker serves more than 15,000 emerging and growing businesses around the world. Lockton defines middle market as clients with between 200 and 5,000 employees for employee benefits services and between $20 million and $1 billion in revenue for property/casualty and risk management services.

Lockton provides all lines of property/casualty and employee benefits-related services to middle-market businesses in aero¬space and defense, aviation, energy and power, construction, food processing and distribution, real estate and technology, among others. In addition, Lockton offers strategic consulting services on merger and acquisition activities, business objectives and risk action plans.

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HEADQUARTERS: Chicago

2011 U.S. BROKERAGE REVENUES: $1,626,869,000

Wells Fargo Insurance Services USA Inc. is the second-largest broker headquartered in the Midwest, based on 2011 U.S. brokerage revenue of $1.63 billion.

About 55% of Wells Fargo's brokerage revenue is derived from middle-market business, which it defines as companies with $10 million to $750 million in annual revenues or that have 50 to 500 employees. About $162 million of its U.S. brokerage revenues are derived from the Midwest, a company spokeswoman said.

The Chicago-based broker focuses on providing global placement and service in two primary areas: commercial insurance, including aviation, casualty, cyber and technology, executive and financial risks, environmental, fiduciary, marine, political and credit risk; and employee benefits, including executive benefits, health and welfare, international benefits, retirement services and voluntary benefits.

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HEADQUARTERS: Itasca, Ill.

2011 U.S. BROKERAGE REVENUES: $1,694,277,000

Arthur J. Gallagher & Co. is the largest commercial insurance broker based in the Midwest, based on 2011 U.S. brokerage revenues of $1.69 billion, a majority of which is generated by middle-market accounts.

AJG's growth throughout the past three decades has been fueled by acquiring smaller brokers that serve the middle market. Since 1985, Itasca, Ill.-based AJG has acquired more than 300 local and regional agencies generating between $1 million and $10 million in annual brokerage revenues.

“The middle market is hundreds of times bigger than the large-account market,” so there is much more opportunity for growth in the middle market,” said J. Patrick Gallagher, chairman, president and CEO. Although many of the acquisitions remain strong in their local markets, by being part of a larger organization, “we can enhance their capabilities locally and globally,” he said.

AJG defines middle-market accounts as those that generate between $10,000 and $200,000 in commissions and/or fees. Middle-market industries AJG serves run the gamut from health care to transportation, and also include some religious organizations, public entities and institutions of higher education.

See the top five Regional mid-market broker leaders: U.S. West-headquartered firms.

A ranking of the top 10 brokers in each region is available in the weekly edition of Business Insurance. To subscribe to Business Insurance, click here.