Brokers less optimistic about growth in 2026

Brokers’ confidence in a strong financial future is slipping, according to Canadian Underwriter‘s 2026 National Broker Survey.

Sixty percent of 169 brokers surveyed predict their brokerage’s financial performance over the coming year will be ‘somewhat better’ or ‘much better’ than last year. That’s still a majority, but pales in comparison with the 74% of brokers who said the same thing in 2025. That’s a 14-percentage-point drop.

A further 33% say their brokerage’s financial performance will be static, against just 23% last year. Seven percent say it will be ‘somewhat poorer’ in 2026, compared to only 3% making that prediction last year.

What’s driving the erosion of optimism?

A slower economy, for one, say broker owners providing verbatim responses to the survey. Also, several principals cite shifts in client preferences as well as changes to regulation, with the latter expected to ding the bottom line while simultaneously improving client retention.

“My forecast is based on the auto reform that is supposed to come in next January,” says one broker in a large firm with more than 100 employees. “It is expected that average premiums will reduce, and retaining clients may be easier than it is this year.”

A respondent at a small firm adds: “Economy’s…slow, and customers can’t afford the insurance cost.” Another, small-firm owner adds, “The poor Canadian economy is a hindrance to growth in our brokerage.”

Related: How brokers are earning their ‘trusted advisor’ stripes

Women brokers are more likely (83%) to predict improved growth than men (52%). Small firms (73%) are rosy about growth, followed by brokers at large firms (50%) and those at mid-sized companies with between 20 and 99 employees.

Those newer to the industry (16 or fewer years in a brokerage) and veterans (with 31 or more years under their belts) tie at 67% for saying finances will improve in 2026. Those at mid-career (16 to 30 years in the brokerage business) are the least optimistic at 50%.

Broker principals who predict financial results will stay the same or grow marginally also reference Canada’s trade-impacted economy. “We hope to hold our own or grow a little, [the] present state of economy is slowing us down,” says a veteran broker owner at a small firm.

And a mid-career broker at a large firm notes, ‘The soft market in commercial lines did have an impact on our 2026 forecasting.”

Inside Intact’s growing Global Specialty Lines business Image

Insights Paid Content

Inside Intact’s growing Global Specialty Lines business

How Intact is combining global scale, specialized expertise, and ambitious growth plans to support brokers placing increasingly complex risks.

By 

Sponsor Image

Other commenters describe their growth trajectories as “significant” in verbatim comments to the survey. A mid-career owner of a small firm says the burgeoning mergers and acquisitions trend is helping her business.

“Consolidators are having the most impact on my business,” she tells the survey. “As long as consolidators keep giving [bad] service, I will do incredibly well.”

Canadian Underwriter’s 2026 National Broker Survey heard from 169 brokers, with 32 identifying as brokerage owners or principals. The survey was conducted in February 2026, with support from Sovereign Insurance.

Phil Porado

Phil, an award-winning journalist with over 30 years of experience in financial topics, has been managing editor of Canadian Underwriter for more than three years.