The commercial insurance underwriting industry in the US provides risk assessment and management for businesses through specialized insurance products. Various companies, including brokerages and venture capital firms, work to formulate tailored insurance solutions, helping businesses mitigate potential financial losses. With advances in technology, such as data analytics, the industry is evolving towards more precise risk estimation and faster claims processing. An increase in startup activity suits the growing demand for innovative insurance products to cater to niche markets. The focus on enhancing customer experience and adapting to emerging market challenges remains a pivotal trend in the industry's future.


This article highlights 12 prominent investors in the commercial insurance underwriting space. These include corporate giants like HUB International and innovative venture capital firms like Y Combinator. Headquartered across the nation, investors range in size from small teams of 1-10 to large organizations with over 10,000 employees. Founded from 1952 to 2011, these firms collectively made notable investments in 2024, with counts varying from 0 to 802 deals. Their active participation in the insurance sector underscores a strategic movement towards enhancing risk management capabilities and operational efficiencies.


Top 12 Commercial Insurance Underwriting Investors in the US


1. HUB International

  • Website: hubinternational.com
  • Type: Corporate
  • Headquarters: Chicago, Illinois, United States (USA)
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 37
  • LinkedIn: hub-international

HUB International Limited is a leading insurance brokerage based in Chicago, Illinois, founded in 1998. With over 10,000 employees, HUB provides a comprehensive range of insurance and risk management services tailored to businesses, organizations, and individuals. Their offerings include business insurance, employee benefits, retirement services, and personal insurance, aimed at helping clients manage risks and protect their assets across various industries. In recent years, HUB has actively expanded its footprint in the commercial insurance underwriting sector through strategic acquisitions. Notable transactions include the acquisition of Insureon, a digital insurance agency, which enhances their capabilities in providing business insurance solutions. Additionally, HUB has acquired agencies like Henry M Murray Agency and Dansig Insurance Services, further solidifying their position in the commercial insurance market. These strategic moves reflect HUB's commitment to growing its underwriting services and adapting to the evolving needs of their clients.


2. AssuredPartners

  • Website: assuredpartners.com
  • Type: Corporate
  • Headquarters: Orlando, Florida, United States (USA)
  • Founded year: 2011
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: assuredpartners

AssuredPartners is an insurance brokerage and risk management consulting firm founded in 2011 and based in Orlando, Florida. With over 10,000 employees, the company offers a comprehensive range of services, including business insurance, employee benefits, and risk management solutions tailored to meet the specific needs of businesses and individual clients across various industries. AssuredPartners has been actively expanding its footprint in the commercial insurance sector through strategic acquisitions. Notable transactions include the acquisition of Cypress Insurance Group in May 2020, which reported annualized revenues of $3 million, and Mack, Mack & Waltz Insurance Group in November 2019, with annualized revenues of $5.2 million. These acquisitions enhance AssuredPartners' capabilities and client offerings in the commercial insurance underwriting space, demonstrating their commitment to this industry.


3. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm based in Sunnyvale, California, founded in 2006. They connect startups with corporations to foster growth and innovation, offering various programs including accelerator initiatives and investment opportunities. In 2024, they made 253 investments, showcasing their active role in the venture capital landscape. Notably, they have invested in several companies within the commercial insurance sector, such as Zensurance, which focuses on providing insurance solutions, and Hippo Insurance, which raised $25 million in Series B funding to enhance its offerings. Additionally, they supported Evertas, a crypto insurance company, in multiple funding rounds, highlighting their commitment to innovative insurance solutions. These transactions demonstrate Plug and Play's engagement in the commercial insurance underwriting space, making them a relevant investor in this category.


4. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies through a structured program that includes resources like the Startup School and co-founder matching services. Y Combinator has successfully launched over 4,000 startups, making it a key player in the technology startup ecosystem. Notably, Y Combinator has invested in companies like Amenli, an Egyptian digital insurance startup, which raised $2.3 million in a seed round, and Cover, which has raised significant funding across multiple rounds (including $16 million in Series B and $8 million in Series A). These transactions highlight Y Combinator's engagement in the insurance sector, particularly in innovative digital insurance solutions, reinforcing its role as an investor in the commercial insurance underwriting industry.


5. Gallagher Healthcare Ins Svc


Gallagher Healthcare Ins Svc is an insurance broker founded in 1952, based in Huntersville, North Carolina. They specialize in medical malpractice insurance solutions tailored for healthcare providers, ensuring comprehensive coverage against legal claims. Gallagher Healthcare is known for its strong customer service, assisting clients in navigating complex insurance options. As a subsidiary of Arthur J. Gallagher & Co., they are part of a larger organization that has made significant acquisitions in the insurance sector, including National Transportation Adjusters, Bowen, Miclette, Britt & Merry of Arkansas, Inc., and MGA Insurance Group. These acquisitions reflect Gallagher's strategy to enhance its capabilities and market presence in the commercial insurance underwriting space, making Gallagher Healthcare Ins Svc a relevant player in this industry.


6. World Insurance Associates LLC


World Insurance Associates LLC is an insurance agency based in Woodbridge Township, New Jersey, founded in 2012. The company provides a wide range of business and personal insurance products, as well as financial services, catering to both businesses and individual consumers. In recent years, World Insurance Associates has actively expanded its portfolio through strategic acquisitions, including Foy Insurance Group, Loveman, Kornreich & Steers, and Exchange Underwriters, all of which enhance their capabilities in commercial insurance underwriting. Their acquisition of MedNET Financial specifically aims to bolster their offerings in medical malpractice insurance, showcasing their focus on underwriting in the commercial insurance sector. With 11 investments in 2024 alone, World Insurance Associates is positioned as a significant player in the insurance industry, particularly in commercial underwriting.


7. Hilb Group

  • Website: hilbgroup.com
  • Type: Corporate
  • Headquarters: Richmond, Virginia, United States (USA)
  • Founded year: 2009
  • Headcount: 1001-5000
  • Number of deals in 2024: 4
  • LinkedIn: hilb-group

Hilb Group is a corporate investor based in Richmond, Virginia, founded in 2009. As an insurance agency and consulting firm, they offer a comprehensive range of insurance products and HR consulting services tailored for both businesses and individuals. Their focus on managing risks and ensuring compliance is evident in their extensive offerings, which include specialty insurance programs for various industries. Hilb Group has been actively expanding its footprint in the commercial insurance sector through strategic acquisitions. Notable transactions include the acquisition of Lighthouse Insurance Agency, which enhances their presence in the transportation specialty sector, and E.B. Cohen Insurance & Risk Management, both of which are significant players in the commercial insurance underwriting space. These acquisitions reflect Hilb Group's commitment to strengthening its capabilities and market position in the commercial insurance industry.


8. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, focused on private sector development in emerging markets. Based in Washington, D.C., IFC provides investment, advisory, and asset management services to businesses and financial institutions, helping them access capital and expertise to foster economic growth. Operating in over 100 countries, IFC addresses challenges of poverty and promotes sustainable development. Among its notable transactions in the commercial insurance sector, IFC has invested in Coverfox Insurance, which raised approximately $5.8 million in a Series C round in 2019, and Naked Insurance, which secured $37.6 million in a Series B round in 2025. These investments highlight IFC's commitment to enhancing the insurance landscape and supporting innovative insurance solutions in emerging markets.


9. NFP, an Aon company

  • Website: nfp.com
  • Type: Corporate
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1998
  • Headcount: 5001-10000
  • Number of deals in 2024: 14
  • LinkedIn: wearenfp

NFP, an Aon company, is a consulting firm based in New York, specializing in insurance brokerage and financial services. Founded in 1998, NFP offers a comprehensive range of products, including property and casualty insurance, employee benefits, and wealth management solutions. The firm serves both businesses and individuals, helping them manage risks and plan for their financial futures. NFP has been actively expanding its footprint in the commercial insurance sector through strategic acquisitions. Notable transactions include the acquisition of Foster Park Brokers, which added $100 million in premium volume primarily from property and casualty insurance, and the acquisition of McLean Hallmark Insurance Group, a company specializing in property and casualty solutions. Additionally, NFP's acquisition of KGJ Insurance Services Group and Wright Insurance Agency further demonstrates its commitment to enhancing its expertise in commercial lines and complex insurance programs. These strategic moves position NFP as a significant player in the commercial insurance underwriting landscape.


10. 500 Global

  • Website: 500.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 98
  • LinkedIn: 500-startups

500 Global is a venture capital firm and startup accelerator based in San Francisco, California, founded in 2010. The firm specializes in investing in early-stage technology companies, providing funding, mentorship, and resources to help founders scale their businesses. Notably, 500 Global has invested in several companies within the commercial insurance underwriting sector, including Embroker, which raised $12 million in Series A funding in 2016, and Clearcover, which secured $11.5 million in Series A funding in 2017. Additionally, they invested in Vouch, which raised $24.5 million in Series A funding in 2019. These investments highlight 500 Global's commitment to supporting innovative startups that are transforming the insurance landscape.


11. Confie

  • Website: confie.com
  • Type: Corporate
  • Headquarters: Huntington Beach, California, United States (USA)
  • Founded year: 2008
  • Headcount: 1001-5000
  • LinkedIn: confie-

Confie is an insurance agency based in Huntington Beach, California, founded in 2008. With a workforce of 1001-5000 employees, Confie offers a diverse range of insurance products, including auto, home, life, and notably, commercial insurance. They cater to both individual consumers and small businesses, emphasizing their commitment to serving standard and high-risk insurance markets. Confie's growth strategy includes multiple acquisitions of insurance brokerages, such as the Lockwood Agency in New York, Most Insurance Agency, and Asap Insurance, which further solidifies their presence in the commercial insurance underwriting space. Their focus on customer service and expansion through acquisitions positions them as a significant player in the commercial insurance market.


12. Marsh McLennan Agency

  • Website: marshmma.com
  • Type: Corporate
  • Headquarters: White Plains, New York, United States (USA)
  • Founded year: 2003
  • Headcount: 10001+
  • Number of deals in 2024: 11
  • LinkedIn: marsh-mclennan-agency

Marsh McLennan Agency is a corporate insurance agency based in White Plains, New York, founded in 2003. With over 10,000 employees, the agency provides a comprehensive range of services, including business insurance, employee health benefits, and retirement solutions. In 2024, Marsh McLennan Agency has been actively expanding its footprint in the commercial insurance sector through several strategic acquisitions. Notably, they announced the acquisition of McGriff Insurance Services for $7.75 billion, which is expected to enhance their capabilities across various insurance sectors. Additionally, they have entered into agreements to acquire The Horton Group and Clark Insurance, both of which are full-service insurance brokerages. These acquisitions reflect their strategy to strengthen their position in the commercial insurance underwriting market and serve a diverse clientele effectively.



Commercial Insurance Underwriting Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
HUB InternationalChicago, Illinois, United States (USA)10001+199837
AssuredPartnersOrlando, Florida, United States (USA)10001+20117
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
Gallagher Healthcare Ins SvcHuntersville, North Carolina, United States (USA)1-1019529
World Insurance Associates LLCWoodbridge Township, New Jersey, United States (USA)1001-5000201211
Hilb GroupRichmond, Virginia, United States (USA)1001-500020094
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
NFP, an Aon companyNew York, New York, United States (USA)5001-10000199814
500 GlobalSan Francisco, California, United States (USA)201-500201098
ConfieHuntington Beach, California, United States (USA)1001-500020080
Marsh McLennan AgencyWhite Plains, New York, United States (USA)10001+200311


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