Merchants Insurance Group
Merchants Insurance Group is a Buffalo, NY-based mutual property and casualty carrier founded in 1918, writing commercial and personal lines through independent agents across 8 Northeast and Midwest states.
- Company typePrivate
- Founded1918
- HeadquartersBuffalo, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Merchants Insurance Group does
Merchants Insurance Group is a mutual property and casualty insurance carrier founded in 1918 and headquartered in Buffalo, New York. The group operates through three subsidiaries (Merchants Mutual Insurance Company, Merchants Preferred Insurance Company, and Merchants National Insurance Company) writing commercial and personal lines, including personal auto and homeowners as well as commercial packages, businessowners policies, and commercial auto, distributed exclusively through independent insurance agents across an 8-state footprint in the Northeast and Midwest. The company is led by CEO Charles E. Makey III, holds an A- (Excellent) AM Best rating, and employs 250-599 people.
Revenue mechanics are typical of a regional P&C mutual: premium income from policyholders, investment income on the float, and realized loss adjustment expenses. Go-to-market is intermediated by independent agents, with the carrier providing underwriting capacity, policy administration, and claims handling. Recent operating initiatives include a New Business Solutions Center launched in November 2025 to centralize commercial new business processing, a Samsara telematics partnership for commercial fleet underwriting and risk management, and a Hi Marley partnership for agent and policyholder texting. The carrier has also filed a RICO insurance fraud complaint as plaintiff, indicating active pursuit of subrogation and fraud recovery to protect loss ratios.
Strategic positioning centers on deepening agent relationships and improving service speed through operational and digital investments, rather than geographic expansion or product line diversification into new categories. Recognition in 2026 (Big I NY Carrier of the Year, multiple industry association awards, Best Places to Work for the fourth year) reflects a stable franchise with industry standing, but no AI/ML capabilities, proprietary technology platforms, or quantified revenue and growth metrics are disclosed.
Merchants Insurance Group firmographics
Firmographics- Name
- Merchants Insurance Group
- Legal name
- Merchants Mutual Insurance Company
- Website
- https://merchantsgroup.com
- Company type
- Private
- Founded year
- 1918
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Merchants Insurance Group is a Buffalo, NY-based mutual property and casualty carrier founded in 1918, writing commercial and personal lines through independent agents across 8 Northeast and Midwest states.
- Ownership category
- akta.pro rank
Merchants Insurance Group industry classification
Industry- Product category
- Property and Casualty Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Mid-Market Commercial Package (Package Policies) (FSAJAFAB)
- akta.pro secondary industries
- Commercial Property Insurance (FSAJACAE), Commercial Umbrella / Excess Liability (FSAJADAL), Standalone Umbrella Liability (FSAJANAE)
Keywords
Where Merchants Insurance Group is headquartered
LocationHeadquarters
- HQ city
- Buffalo
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Merchants Insurance Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Commercial Lines Insurance Premiums: Property and casualty insurance products for commercial lines including business insurance for contractors, restaurants, retail, offices, building owners, commercial auto, workers' compensation, and commercial umbrella coverage.
- Personal Lines Insurance Premiums: Personal automobile, homeowners, and personal umbrella coverage for individual consumers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Commercial and personal lines insurance products with quote-based pricing through independent agents |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Merchants Insurance Group product offering
Product offeringCore offering
Merchants Insurance Group underwrites and sells property and casualty insurance products through a group of three mutual carriers (Merchants Mutual, Merchants Preferred, and Merchants National Insurance Companies). The portfolio spans commercial lines for small and mid-size businesses (Commercial Auto, Workers' Compensation, Commercial Umbrella, and specialized coverage for contractors, restaurants, offices, retail/service/wholesale businesses, building owners, funeral homes) and personal lines for individuals (Personal Automobile, Homeowners, Personal Umbrella). Policies are sold exclusively through independent insurance agents in eight states across the Northeast and Midwest.
Product overview
Merchants Insurance Group is a regional property and casualty insurance carrier founded in 1918, offering a portfolio of commercial and personal insurance products through a network of independent insurance agents. The Business Insurance portfolio includes Commercial Auto (with Samsara dashcam partnership), Workers' Compensation, Commercial Umbrella, and specialized coverage for contractors across trades (carpentry, electrical, HVAC, landscaping, masonry, painting, plumbing), restaurants, offices, retail/service businesses, building owners, and funeral homes. The Personal Insurance portfolio includes Personal Automobile, Homeowners, and Personal Umbrella coverage. Supporting services include Merchants University (agent training platform), New Business Solutions Center (agent onboarding and growth tools), MIGPay pay-as-you-go billing, and Merchants Mobile app. The company operates in Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, and Vermont.
Differentiator
Problem solved
Functional benefit
Products and services
- Business Insurance Property and casualty insurance products for commercial entities, including coverage for auto repair shops, beauty salons and barbers, building owners, contractors across multiple trades (carpentry, electrical, HVAC, landscaping, masonry, painting, plumbing, handyperson), funeral homes, offices (accounting, chiropractic, dental, insurance, legal, medical, optometry), service/retail/wholesale businesses (florists, liquor stores), and restaurants (bakery, coffee shop, deli, ice cream shop, pizzeria), plus Commercial Auto, Workers' Compensation, and Commercial Umbrella coverage.
- Personal Insurance Personal insurance products for individual consumers including Personal Automobile coverage, Homeowners insurance, and Personal Umbrella liability coverage that provides additional protection beyond standard personal auto and homeowners policy limits.
- Commercial Auto Vehicle insurance coverage for commercial businesses, including a partnership with Samsara for dashcam installation to enhance driver safety, provide insight into driving behaviors, and expedite claim investigations.
- Workers' Compensation Coverage that helps in the event of employee injuries caused by workplace conditions such as icy or snowy environments, with the MIGPay pay-as-you-go payment plan available based on actual exposure or payroll cycles.
- Commercial Umbrella Excess liability coverage extending protection beyond the limits of standard commercial insurance policies for businesses.
- Personal Umbrella Additional liability insurance coverage for personal automobile and homeowners policies, providing protection beyond standard personal policy limits.
Quantifiable outcome
- 60% reduction in collisions with dashcam installation (industry study)
Companies that use Merchants Insurance Group
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles3 records
Merchants Insurance Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature3 records
Merchants Insurance Group partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- SamsaracoreMerchants Insurance Group has partnered with Samsara to encourage dashcam installation for commercial auto customers. The partnership provides discounts on Samsara dashcams for eligible Commercial Auto policyholders. Dashcam technology helps enhance driver safety, provide insight into driving behaviors, and expedite claim investigations.
- Hi MarleycoreMerchants adopted Hi Marley, a texting platform, to enable policyholders to text with claims representatives. This digital communication tool enhances the ease of doing business and improves claims customer experience.
- United Way of Buffalo and Erie CountycoreAnnual United Way fundraising campaign supporting local communities. Merchants invests over $100,000 annually in United Way programs. Corporate colleagues participate in Day of Caring volunteer events at local nonprofits.
- The Willis Law GroupminorLegal counsel representing Merchants Insurance Group in federal RICO case filed to expose and stop alleged insurance fraud scheme targeting New York's construction industry.
Scale indicators5 records
Recent moves7 records
Expansion highlights5 records
Merchants Insurance Group competitors and assessment
Company assessmentDirect peers
- Erie Insurance Group: Regional mutual P&C carrier with strong independent agent distribution across the Northeast and Midwest. Direct comparable to Merchants on business model, channel strategy, and product mix; Erie is significantly larger.
- Auto-Owners Insurance: Mutual P&C insurer distributing exclusively through independent agents with strong personal and commercial lines. Closely comparable on structure and agent-only GTM; competes in overlapping Midwest markets.
- Donegal Insurance Group: Regional mutual P&C insurer with independent agent distribution across the Mid-Atlantic and Midwest. Directly comparable on size, mutual structure, and commercial contractor focus; Pete Walkup joined Merchants from Donegal.
- Westfield Insurance: Mutual P&C carrier with strong independent agent relationships in Ohio and the Northeast. Comparable on mutual structure, regional Northeast/Midwest footprint, and specialty commercial lines.
- Selective Insurance Group: Mid-Atlantic and Northeast regional P&C carrier with independent agent distribution. Comparable on geographic footprint, commercial contractor focus, and standard personal lines offering.
Broad incumbents
- Cincinnati Financial: Large publicly-traded P&C insurer using independent agents across 45+ states. Comparable on agent-channel model and commercial lines emphasis; broader geographic reach and deeper product portfolio.
- The Hanover Insurance Group: Property and casualty insurer with strong Northeast and Midwest independent agent presence. Comparable on commercial specialty lines and regional agency relationships; broader product mix.
Regional players
- NYCM Insurance: New York-based mutual P&C carrier focused on personal lines in the Northeast. Comparable on mutual structure and New York regional concentration, though predominantly personal versus Merchants' commercial emphasis.
- Plymouth Rock Assurance: Northeast regional P&C carrier offering personal auto and homeowners. Comparable on Northeast geography and AM Best financial strength profile; less commercial focus.
- Norfolk & Dedham Group: Small mutual P&C insurer operating in the Northeast. Comparable on mutual structure and New England/Mid-Atlantic regional focus; considerably smaller scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Merchants Insurance Group social profiles
Digital presenceMerchants Insurance Group compliance and trust
Trust signalCompliance1 record
Merchants Insurance Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Merchants Insurance Group leadership team
Management profileNumber of profiles
Profiles5 records
Merchants Insurance Group subsidiaries and ownership
Company hierarchySubsidiaries2 records
Merchants Insurance Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Merchants Insurance Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Merchants Insurance Group
What does Merchants Insurance Group do?
Merchants Insurance Group underwrites and sells property and casualty insurance products through a group of three mutual carriers (Merchants Mutual, Merchants Preferred, and Merchants National Insurance Companies). The portfolio spans commercial lines for small and mid-size businesses (Commercial Auto, Workers' Compensation, Commercial Umbrella, and specialized coverage for contractors, restaurants, offices, retail/service/wholesale businesses, building owners, funeral homes) and personal lines for individuals (Personal Automobile, Homeowners, Personal Umbrella). Policies are sold exclusively through independent insurance agents in eight states across the Northeast and Midwest.
Is Merchants Insurance Group a public or private company?
Merchants Insurance Group is a private company. It is classified as unknown and is currently operating.
When was Merchants Insurance Group founded?
Merchants Insurance Group was founded in 1918. It employs 251 to 500 people.
Where is Merchants Insurance Group based?
Merchants Insurance Group is headquartered in Buffalo, United States, in the North America region.
How does Merchants Insurance Group make money?
Two revenue lines are on record. Commercial Lines Insurance Premiums are the primary driver. The others are personal Lines Insurance Premiums.
Who are Merchants Insurance Group's main competitors?
Direct peers on record are Erie Insurance Group, Auto-Owners Insurance, Donegal Insurance Group, Westfield Insurance and Selective Insurance Group. Broad incumbents are Cincinnati Financial and The Hanover Insurance Group. Regional players are NYCM Insurance, Plymouth Rock Assurance and Norfolk & Dedham Group.
Does Merchants Insurance Group have an API?
No public API is recorded for Merchants Insurance Group.
What industry is Merchants Insurance Group in?
Merchants Insurance Group's product category is Property and Casualty Insurance. Its primary akta.pro industry code is FSAJAFAB, Mid-Market Commercial Package (Package Policies), with a secondary code of FSAJACAE, Commercial Property Insurance. Its NAICS code is 524126 and its SIC code is 6331.