XS Brokers Insurance Agency Inc

Name

XS Brokers Insurance Agency Inc

Legal name

XS Brokers Insurance Agency, Inc.

Website

https://xsbrokers.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Wholesale Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Wholesale Insurance Brokerage (Excess & Surplus Lines) (FSAEADAD)

akta.pro secondary industries

Commercial Lines Insurance Brokerage (FSAEADAB), Insurtech-Enabled Brokerage (Digital Brokers & Aggregators) (FSAEADAN), Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Wholesale insurance brokerage
• Binding authority solutions
• Surplus lines placement
• Specialty commercial insurance
• Flood insurance programs

Headquarters

HQ city

Quincy

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Brokerage Commissions: XS Brokers places challenging commercial risks in the surplus lines marketplace through brokerage. Represents 55% of total business volume.
2. Binding Authority Commissions: Broad-based binding solutions for retail agents via underwriting authority. Represents 32% of total business volume.
3. Lloyd's of London Business: Business placed through Lloyd's of London. Represents 13% of total business volume.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

XS Brokers operates as a wholesale insurance brokerage and binding intermediary that places commercial and personal insurance risks on behalf of retail agents and brokers. It provides admitted and non-admitted carrier solutions through binding authorities and surplus lines brokerage across property, casualty, professional liability, cyber, flood, construction, healthcare, environmental, marine, and workers' compensation lines, supported by in-house flood facilities and online quoting tools.

Product overview

XS Brokers Insurance Agency Inc operates as a wholesale and binding intermediary with two core product lines: Binding Authority and Specialty Brokerage. Binding Authority provides admitted and non-admitted carrier solutions for retail agents across casualty, construction, flood, hospitality, marine, personal lines, property, real estate, small business, umbrella/excess liability, and workers' compensation. Specialty Brokerage places complex commercial risks in surplus lines, covering architects & engineers, builders risk, casualty, cyber, environmental, healthcare, product liability, professional liability, property, tech E&O, and umbrella/excess. The company supports these products with online quoting portals for flood, commercial, and personal lines, premium finance services via p1finance.com, and claims reporting capabilities. The portfolio spans property, casualty, professional lines, and specialty coverages served through 9 offices nationwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Binding Authority (Wholesale Binding)

Quantifiable outcome

• 17% year-over-year growth for the past 10 years
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature6 records

Partnerships

Five partnerships are on record, tiered minor.

• Council (Affiliate Organization)minorOthersIndustry affiliation organization displayed as logo on homepage. Nature of affiliation (member, sponsor, partner) not explicitly stated.
• WSIA (Wholesale & Specialty Insurance Association)minorOthersIndustry association for wholesale and specialty insurance. Affiliation indicated via logo display on homepage.
• PLUS (Professional Liability Underwriting Society)minorOthersProfessional liability insurance industry association. Affiliation indicated via logo display on homepage.
• INA (Insurance Nerds Association)minorOthersInsurance industry community/organization. Affiliation indicated via logo display on homepage.
• Dana-Farber Cancer InstituteminorOthersXS Brokers actively sponsors and volunteers for Dana-Farber Cancer Institute. The company donated $43,500 (matching and tripling employee-raised $14,500) at the Freezin' for a Reason event. Adam Devine sits on a visiting committee for Pediatric Oncology at Dana-Farber.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• RPS (Risk Placement Services): Major US wholesale broker and MGA providing binding authority and specialty brokerage to retail agents across property, casualty, professional lines, and Lloyd's placements. Directly comparable business mix and product breadth to XS Brokers' brokerage and binding divisions.
• Amwins: Largest US wholesale insurance broker and specialty MGA. Operates a similar binding authority and specialty brokerage model across 250+ carrier relationships, serving retail agents with the same complex-risk placement value proposition as XS Brokers. Most directly comparable peer at greater scale.
• Bridge Specialty Group: Wholesale broker and MGA platform backed by BC Partners providing binding authority and specialty brokerage. Operates with a similar two-channel (binding + brokerage) model targeting retail agents, and is one of the most active acquirers in the wholesale space.
• Burns & Wilcox: Wholesale insurance broker and MGA specializing in surplus lines and specialty risk placement for retail agents. Operates with similar binding authority and brokerage split to XS Brokers, and serves an overlapping set of retail agency customers across personal and commercial lines.
• Worldwide Insurance Group (Worldwide Facilities): Wholesale insurance broker and MGA providing specialty brokerage and binding authority solutions to retail agents nationwide. Comparable in product breadth (commercial, professional, personal lines) and customer base to XS Brokers' distribution model.
• CRC Insurance Services (Brown & Riding): Specialty wholesale broker offering binding authority and surplus lines brokerage to retail agents, with strong capabilities in property, casualty, professional liability, and cyber. Closely comparable in customer segment (retail agents) and product mix to XS Brokers' specialty brokerage arm.

Emerging players

• ARC Excess & Surplus (Arc Capital): Specialty E&S wholesale broker providing binding authority and surplus lines brokerage to retail agents. Comparable niche positioning in hard-to-place commercial risks, with a smaller scale but overlapping product set to XS Brokers' specialty brokerage division.
• IAT Insurance Group: Specialty insurance platform providing binding authority and program business to retail agents, with focused capabilities in excess and surplus lines. Smaller and more focused than XS Brokers but operates in a directly comparable specialty distribution niche.

Broad incumbents

• Markel: Specialty insurer and reinsurer with a wholesale and program business that places specialty risks on behalf of retail agents. Operates a broader portfolio of insurance and investment operations but is comparable in its specialty-line placement and surplus lines expertise.
• H.W. Kaufman Group (Burns & Wilcox parent): International insurance holding group operating multiple wholesale brokerage and MGA brands including Burns & Wilcox. Provides comparable wholesale and specialty distribution services at a larger scale, with broader international reach than XS Brokers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

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 XS Brokers Insurance Agency Inc