Spinnaker Insurance Company

Name

Spinnaker Insurance Company

Legal name

Spinnaker Insurance Company

Website

https://spinnakerins.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industry

Habitational / Residential Property Managers BOP (FSAJAFAN)

Keywords

• Property casualty insurance
• Program insurance carrier
• MGA partnerships
• Catastrophe bond sponsorship
• Specialty surplus lines

Headquarters

HQ city

Bedminster

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Insurance Premium Revenue: Spinnaker generates revenue through insurance premiums collected from policyholders across personal, commercial, and specialty lines. The company underwrites property, casualty, commercial multi-peril, admitted, non-admitted, and specialty coverages. Revenue is primarily recurring premium-based from the insurance policies written through their MGA partner network.
2. Reinsurance Risk Transfer: Spinnaker sponsors catastrophe bonds through Mountain Re Ltd. to transfer natural peril risk to capital markets investors. This provides additional capacity for growth while managing exposure to multiple natural perils including named storms, earthquakes, severe thunderstorms, winter storms, fire, and wildfire.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Spinnaker Insurance Company is a national property and casualty insurer and program insurance carrier that underwrites personal, commercial, and specialty lines through partnerships with high-performing Managing General Agents (MGAs). The company offers admitted, non-admitted, and surplus lines coverage, complemented by catastrophe bond-sponsored reinsurance capacity and parametric natural peril products. Its programs serve more than one million policyholders across all 50 U.S. states and Washington, DC.

Product overview

Spinnaker Insurance Company operates as a national property and casualty insurer and program insurance platform offering a comprehensive portfolio of insurance products. The core offerings include Property, Casualty, Commercial Multi-Peril, Admitted, Non-Admitted, and Specialty insurance solutions. These products are delivered through program administrator partnerships, with Spinnaker providing the underwriting capacity, reinsurance market access, and financial strength while partners handle distribution and program management. The company also offers specialized products like parametric tornado coverage developed in partnership with Beazley and Sola Technologies. As a wholly owned subsidiary of Hippo Holdings, Spinnaker leverages technology and data analytics across its product suite while maintaining A- (Excellent) AM Best ratings.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Insurance Personal property insurance coverage offered through Spinnaker's program insurance solutions, protecting residential and commercial properties against natural perils and other risks. Distributed through MGA partners to individuals and families.
• Casualty Insurance Casualty insurance coverage provided as part of Spinnaker's comprehensive personal and commercial lines offerings, covering liability exposures.
• Commercial Multi-Peril Insurance Commercial multi-peril coverage combining multiple commercial risks (property and liability) into a single policy solution for program partners serving small and medium businesses.
• Admitted Insurance Solutions State-licensed and filed admitted insurance products available across all 50 states and Washington DC, providing standard market coverage through MGA program partners.
• Non-Admitted Insurance Solutions Surplus lines insurance solutions for risks that don't qualify for standard admitted coverage, available in all 50 states and DC, distributed through licensed surplus lines brokers.
• Specialty Insurance Specialty insurance products for unique or hard-to-place risks beyond standard property and casualty coverages, served through specialty MGA program partners.
• Parametric Tornado Disaster Benefit Insurance First admitted parametric tornado disaster benefit insurance for homeowners, developed in partnership with Beazley and Sola Technologies, providing automatic payouts up to $15,000 triggered by Enhanced Fujita scale classification from the National Weather Service. Available in 15 US states.

Quantifiable outcome

• 17% growth in gross written premium to $510 million in H1 2025
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered major, core and minor.

• ProgressivemajorChannel Partner/ Reseller/ Distributor · 30 April 2026Hippo announced a new strategic distribution partnership with Progressive to complement its existing Westwood relationship, expanding distribution reach for insurance products.
• BeazleycoreStrategic or Co-development Partner · 6 November 2024Beazley partnered with Sola Technologies and Spinnaker Insurance Company to launch the first admitted parametric tornado disaster benefit insurance for homeowners, available in 15 US states. The policy offers coverage up to $15,000 with payouts triggered automatically based on Enhanced Fujita scale classification by the National Weather Service.
• Sola TechnologiescoreTechnology or Integration · 6 November 2024Sola Technologies partnered with Beazley and Spinnaker to develop and deliver parametric tornado insurance products with automatic claim payouts based on weather data integration.
• GC SecuritiesminorImplementation/ SI/ Consulting Partner · 6 June 2023GC Securities provided structuring assistance for the $110 million Mountain Re Ltd. catastrophe bond Series 2023-1, supporting Spinnaker's growth and risk transfer capacity.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Employers Holdings: Employers is a specialty workers' compensation carrier with a focused underwriting niche and strong AM Best ratings — a relevant comparable on the specialty single-line carrier / niche underwriting axis that defines Spinnaker's program strategy.
• Palomar Holdings: Palomar is a specialty P&C insurer focused on niche and underserved markets including catastrophe-exposed property; its partnership-driven underwriting model and geographic/specialty positioning closely parallel Spinnaker's approach.
• Skyward Specialty Insurance Group: Skyward Specialty is a specialty P&C carrier operating across multiple lines and partnership channels with a similar focus on smaller commercial and specialty risks through program and MGA-like distribution.
• Kinsale Capital Group: Kinsale is a specialty P&C excess & surplus lines carrier that partners with wholesale brokers and MGAs — the closest direct comparable to Spinnaker's program carrier / MGA partnership model with a focus on underserved specialty risks.
• RLI Corp. RLI is a specialty P&C carrier underwriting niche and E&S lines through independent agents and brokers, with a long track record of underwriting profitability in underserved segments — comparable in product diversity and specialty focus to Spinnaker.

Broad incumbents

• Liberty Mutual Insurance: Liberty Mutual is a major US P&C incumbent with significant specialty, E&S, and small commercial business; competes for the same MGA programs and specialty distribution Spinnaker serves, but with vastly greater scale and capital base.
• Hanover Insurance Group: The Hanover is a national P&C carrier with personal and commercial lines, including specialty; a broader incumbent that competes for the same MGA programs and small commercial business Spinnaker targets.
• Berkshire Hathaway Specialty Insurance: Berkshire Hathaway Specialty is the specialty P&C arm of Berkshire Hathaway, writing E&S and specialty lines across the US; a deep-pocketed incumbent competing for specialty program business with effectively unlimited capacity.
• Markel Group: Markel is a diversified specialty P&C insurer with significant E&S and program-style underwriting through Markel Specialty; a much larger incumbent that overlaps with Spinnaker across specialty and surplus lines but operates across a far broader portfolio.

Regional players

• Donegal Group: Donegal is a regional P&C carrier focused on commercial and personal lines through independent agents in selected US regions; comparable product mix and channel model but narrower geographic footprint than Spinnaker's 50-state platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spinnaker Insurance Company