What Garnet Captive Services does

Garnet Captive Services is a Philadelphia-area alternative risk and brokerage firm that owns and operates group captive insurance programs for mid-sized businesses with strong risk profiles. Founded in 2002 and operating as part of the Strategic Risk Solutions (SRS Companies) group alongside SRS Altitude and Elevate Insurance, the firm structures programs where members jointly absorb risk through a policy-issuing carrier, with predictable premium portions ceded to the captive and any unused funds returned to members after policy periods expire.

The company's core offering, Group Captive Insurance Solutions, spans four coverage lines — Workers Compensation, General Liability, Auto Liability, and Auto Physical Damage — supplemented by Loss Control Services (on-site and telephonic surveys, account management, annual loss-control meetings, quarterly newsletters) and the proprietary Garnet Captive Safety Library, an online resource giving members searchable access to safety content. The underlying technology is primarily structural and service-oriented: program administration, member onboarding through a structured submission process, and ongoing engagement rather than a software platform sold at scale.

Commercially, Garnet earns revenue through managing these captive programs on a fee basis, pricing each engagement against the member's risk profile and contract is typically multi-year. Go-to-market runs exclusively through a curated network of select retail brokers who introduce qualified businesses; the firm markets itself on long-term pricing stability, fixed cost reductions, and member distributions (over 80% of members reportedly receive distributions), and reports a near-100% retention rate. The company is small (1-10 employees), privately held, and serves a Northeast US mid-market segment.

Name

Garnet Captive Services

Legal name

Garnet Captive Services

Website

https://garnetcaptive.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

Garnet Captive Services, founded in 2002 and based in Media, PA, manages group captive insurance programs for mid-sized businesses, distributing underwriting profit back to members through Workers Compensation, General Liability, and Auto coverage lines via select retail broker partners.

Ownership category

akta.pro rank

Product category

Captive Insurance Services

NAICS

Insurance Carriers and Related Activities (524)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Captive Insurance Advisory & Management (FSAEADAF)

akta.pro secondary industry

Commercial General Liability (CGL) (FSAJADAA)

Keywords

• Group captive insurance
• Alternative risk consulting
• Captive insurance brokerage
• Workers compensation programs
• Loss control services

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Group Captive Insurance Premium Management: Garnet Captive manages insurance programs where members pay premiums through a policy-issuing carrier. A portion of the premium is ceded to the captive. Members can recoup underwriting profits via distributions when losses are lower than expected. The company generates revenue through the management of these programs.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Garnet Captive Services designs and manages group captive insurance programs for mid-sized businesses, providing alternative Workers Compensation, General Liability, Auto Liability, and Auto Physical Damage coverage. Members pay premiums through a policy-issuing carrier, a predictable portion is ceded to the captive, and unused funds are returned as distributions after policy periods. The firm supplements these programs with loss control services and an online safety resource platform.

Product overview

Garnet Captive Services offers a unified group captive insurance platform providing alternative insurance solutions for mid-sized businesses. The core product, Group Captive Insurance Solutions, encompasses four insurance lines: Workers Compensation, General Liability, Auto Liability, and Auto Physical Damage. These are offered through Garnet's unique group captive programs where members jointly absorb and manage risks. Two supporting service modules enhance the offering: Loss Control Services (providing surveys, account management, annual meetings, and newsletters) and the Garnet Captive Safety Library (an online safety resource platform).

Differentiator

Problem solved

Functional benefit

Products and services

• Group Captive Insurance Solutions Member-owned group captive insurance program that provides an alternative to traditional commercial insurance, offering long-term pricing stability, fixed cost reductions, and distribution of underwriting profits back to members.
• Workers Compensation Insurance

Quantifiable outcome

• Over 80% of Members in Garnet-run group captives have received distributions totaling tens of millions of dollars
• +2 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core and minor.

• Strategic Risk SolutionscoreStrategic or Co-development Partner · 1 January 2002Strategic Risk Solutions is the parent company and affiliated organization that provides operational infrastructure and strategic direction for Garnet Captive Services. Garnet is part of the SRS Companies group of insurance service providers.
• SRS AltitudeminorStrategic or Co-development PartnerSRS Altitude is an affiliated company under the Strategic Risk Solutions umbrella, providing additional insurance service capabilities within the SRS Companies network.
• Elevate InsuranceminorStrategic or Co-development PartnerElevate Insurance is an affiliated company under the Strategic Risk Solutions umbrella, part of the SRS Companies network of insurance service providers.
• Best-in-class Insurance CompaniescoreTechnology or IntegrationGarnet partners with highly rated insurance companies that serve as policy-issuing carriers for group captive programs, issuing policies and collecting premiums that are then ceded to the captive.
• Third-party Claims AdjusterscoreImplementation/ SI/ Consulting PartnerTop-quality third-party claims adjusting partners who specialize in customer service and work to achieve the lowest possible final cost of claims for captive members.
• Loss Control SpecialistscoreImplementation/ SI/ Consulting PartnerDedicated loss control specialists committed to helping members enhance their safety initiatives and reduce insurance costs through proactive risk management.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Risk Strategies: National specialty insurance brokerage offering captive and alternative risk solutions to mid-sized businesses. Comparable target market and broker-driven distribution model.
• Alliant Insurance Services: Specialty brokerage with alternative risk and captive practice serving mid-market clients. Comparable customer profile and use of retail broker referrals for captive program formation.
• Aon Captive Insurance: Captive insurance practice within Aon, one of the largest global brokers. Competes in group captive formation and management for mid-market and large clients with broader risk advisory capabilities.
• Marsh Captive Solutions: Captive management arm of Marsh, a global insurance brokerage. Offers broader portfolio including group captives to mid-sized and enterprise clients, with deeper geographic reach but less niche specialization than Garnet.
• Willis Towers Watson Captive: Global brokerage's captive insurance unit offering formation, management, and feasibility services. Competes for group captive opportunities with broker-referred clients across multiple lines of business.

Direct peers

• Strategic Risk Solutions: Parent company and affiliated captive management firm under SRS Companies. Directly comparable as a captive formation and management specialist serving similar mid-market and complex risk profiles.
• Elevate Insurance: Sister company under SRS Companies providing insurance services to similar mid-sized business clients. Comparable go-to-market, customer base, and captive-adjacent offerings.
• Artex Risk Solutions: One of the largest independent captive insurance managers globally, offering group and single-parent captive formation and management. Directly competes for the same broker-referred mid-sized business prospects.
• SRS Altitude: Affiliated SRS Companies entity offering complementary captive and insurance services. Operates adjacent captive structures and shares infrastructure, distribution, and member base with Garnet.

Emerging players

• Horseshoe Group: Independent captive management and insurance advisory firm focused on group captives for middle-market companies. Comparable niche focus and broker-partnered distribution approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/p/Garnet-Captive-100081292243297
• LinkedInlinkedin.com/company/garnet-captive
• Xx.com/garnetcaptive

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors

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 Garnet Captive Services