DEFINITION of 'Alphabet Broker'
Slang terminology for a large insurance broker that is sometimes referred to according to the initials in its name. An alphabet broker, for example, would be referred to as "HIT" rather than "Hedged Investment Portfolio."
BREAKING DOWN 'Alphabet Broker'
Alphabet brokers are often known through their acronym name rather than the full name. For example, many more individuals are familar with the name AIG rather than American Insurance Group.