Revenues (Tables)

12 Months Ended

Dec. 31, 2024

Revenues [Abstract]

Schedule of Disaggregated by Revenue

The following tables present the revenues disaggregated by revenue source:

	For the year ended December 31, 2024
(in millions)	Retail		Programs		Wholesale Brokerage		Other(8)			Total
Base commissions(1)	$	1,874	$	924	$	483	$	1		$	3,282
Fees(2)		631		270		92		(1	)		992
Other supplemental commissions(3)		171		9		8		—			188
Profit-sharing contingent commissions(4)		44		95		27		—			166
Earned premium(5)		—		77		—		—			77
Investment income(6)		6		23		6		58			93
Other income, net(7)		3		2		—		2			7
Total Revenues	$	2,729	$	1,400	$	616	$	60		$	4,805

	For the year ended December 31, 2023
(in millions)	Retail		Programs		Wholesale Brokerage		Other(8)			Total
Base commissions(1)	$	1,692	$	736	$	440	$	—		$	2,868
Fees(2)		597		322		78		(2	)		995
Other supplemental commissions(3)		164		9		6		(1	)		178
Profit-sharing contingent commissions(4)		50		65		15		—			130
Earned premium(5)		—		28		—		—			28
Investment income(6)		1		12		2		37			52
Other income, net(7)		4		1		—		1			6
Total Revenues	$	2,508	$	1,173	$	541	$	35		$	4,257

	For the year ended December 31, 2022
(in millions)	Retail		Programs		Wholesale Brokerage		Other(8)			Total
Base commissions(1)	$	1,421	$	589	$	367	$	—		$	2,377
Fees(2)		546		298		69		(1	)		912
Other supplemental commissions(3)		138		16		5		—			159
Profit-sharing contingent commissions(4)		49		28		12		—			89
Earned premium(5)		—		26		—		—			26
Investment income(6)		—		1		—		6			7
Other income, net(7)		3		—		—		—			3
Total Revenues	$	2,157	$	958	$	453	$	5		$	3,573

(1)Base commissions generally represent a percentage of the premium paid by an insured and are affected by fluctuations in both premium rate levels charged by insurance companies and the insureds’ underlying “insurable exposure units,” which are units that insurance companies use to measure or express insurance exposed to risk (such as property values, or sales and payroll levels) to determine what

premium to charge the insured. Insurance companies establish these premium rates based upon many factors, including loss experience, risk profile and reinsurance rates paid by such insurance companies, none of which we control.

(2)Fee revenues relate to fees for services other than securing coverage for our customers, fees negotiated in lieu of commissions, and F&I products and services.

(3)Other supplemental commissions include additional commissions over base commissions received from insurance carriers based on predetermined growth or production measures. This includes incentive commissions and guaranteed supplemental commissions.

(4)Profit-sharing contingent commissions are based primarily on underwriting results, but may also reflect considerations for volume, growth and/or retention.

(5)Earned premium relates to the premiums earned in the Captives.

(6)Investment income consists primarily of interest on cash and investments.

(7)Other income consists primarily of other miscellaneous income.

(8)Fees within Other reflects the elimination of intercompany revenues.

Schedule of Revenues Disaggregated by Geographic Area

The following table presents the revenues disaggregated by geographic area where our services are being performed:

	For the year ended December 31,
(in millions)	2024		2023		2022
U.S.	$	4,140	$	3,730	$	3,333
U.K.		545		433		170
Republic of Ireland		48		45		38
Canada		40		35		23
Other		32		14		9
Total Revenues	$	4,805	$	4,257	$	3,573

Schedule of Balances of Contract Assets and Contract Liabilities Arising from Contracts with Customers

The balances of contract assets and contract liabilities arising from contracts with customers as of December 31, 2024 and 2023 were as follows:

(in millions)	December 31, 2024		December 31, 2023
Contract assets	$	575	$	473
Contract liabilities	$	119	$	113