Keyes Coverage

What Keyes Coverage does

Keyes Coverage is a third-generation, family-owned independent insurance brokerage headquartered in Tamarac, Florida, operating since 1975 (with roots in New York dating to the late 1950s). The firm delivers commercial insurance, high-net-worth personal insurance, and employee benefits across more than a dozen industry verticals including construction, real estate management and development, manufacturing, large retail, wholesale distribution, food manufacturing and distribution, importers/exporters, substance abuse treatment facilities, HiTech industries, and surety services. The company employs over 65 people at its 20,000 square foot headquarters and places in excess of $175 million in annualized premiums, ranking among the largest privately-owned insurance agencies in Florida.

The firm's product suite spans commercial property and casualty insurance, workers' compensation, liability (including cyber, professional/E&O, D&O, EPLI), M&A representations and warranties insurance, captive and alternative risk financing, executive compensation and life insurance, high net worth personal lines, and group employee benefits. Underpinning the offering is a proprietary "Data and Analytics Methodology" — a seven-step Total Risk and Insurance Management process spanning renewal strategy through binding, designed for risk identification, probability/impact analysis, and risk control plan development. Keyes operates through direct enterprise field sales and inside sales teams, distributing across multiple carrier partnerships.

The business generates revenue primarily through insurance brokerage commissions paid by carriers on policies placed for clients, with pricing negotiated based on premium volume rather than disclosed tiered pricing. In June 2022, Keyes formed a strategic partnership with Keystone Agency Partners (KAP), a PE-backed platform affiliated with Bain Capital, providing growth capital that has enabled an aggressive acquisition strategy: twelve acquisitions completed between 2022 and 2026, doubling both revenue and headcount since 2021 and expanding footprint from South Florida into Melbourne and Tampa.

Name

Keyes Coverage

Legal name

Keyes Coverage, Inc.

Website

https://keyescoverage.com

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

51–100 employees

Short description

Keyes Coverage is a third-generation, Florida-based insurance brokerage offering commercial, high net worth personal, and employee benefits coverage across 13+ industry verticals. PE-backed by Keystone Agency Partners (Bain Capital affiliates), the firm places $175M+ in annualized premiums and has executed 12+ acquisitions since 2021.

Ownership category

akta.pro rank

Headquarters

HQ city

Tamarac

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: Keyes Coverage generates revenue as an insurance broker through commissions paid by insurance carriers on policies placed for clients. The company serves as an intermediary between insurance buyers and insurers, earning commissions based on premium volumes placed.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Keyes Coverage is an independent insurance brokerage that places commercial insurance, high net worth personal insurance, and employee benefits on behalf of clients, earning commissions from carriers. The firm serves as an intermediary between insurance buyers and insurers across property, casualty, liability, workers' compensation, M&A, captive risk, executive compensation, surety, and benefits lines, organized around vertical specializations (Construction, Real Estate, Large Retail, Substance Abuse Treatment, HiTech, Food Manufacturing, etc.). A proprietary Data and Analytics Methodology with a seven-step Total Risk and Insurance Management process underpins risk analysis, loss control, policy review, and total cost of risk optimization.

Product overview

Keyes Coverage is an insurance brokerage firm offering a comprehensive suite of insurance and risk management solutions. The company operates as a unified insurance platform organized around three core product pillars: Commercial Insurance (covering property, liability, workers' compensation, M&A, captive risk, and executive benefits), Personal Insurance (specializing in high net worth coverage for homes, jewelry, collectibles, and personal liability), and Employee Benefits (health, dental, vision, life, and voluntary offerings). A proprietary Data and Analytics Methodology platform underpins all offerings, enabling risk analysis, loss control, policy review, and total cost of risk optimization. The company also delivers specialized industry-specific solutions including Construction, Real Estate Development, Substance Abuse Treatment Facilities, Surety Services, HiTech Industries, Health and Human Services, Food Manufacturing, Importers/Exporters, Wholesale Distribution, Large Retail, Business Services, and Large Artisan Contractors.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Insurance Comprehensive commercial insurance solutions including property, casualty, liability, workers' compensation, and specialized coverages for businesses across multiple industries.
• Commercial Property Insurance Coverage for primary property and inventory, excess and layered property, inland and ocean cargo, and builders risk insurance for commercial clients.
• Liability Insurance General liability, excess liability, cyber liability, product liability, professional liability/E&O, D&O, employment practices liability, and surety bonds.
• Workers Compensation Workers compensation coverage with detailed loss analysis, experience modification audits, aggressive claims management, and premium incentive programs.
• Mergers and Acquisitions Insurance Representations and warranties insurance, contingent liability insurance, and tax liability insurance for M&A transactions.
• Executive Compensation and Life Insurance Executive life insurance programs, executive compensation plans, buy-sell agreements, cross purchase agreements, and disability buy-out insurance.
• Captive and Alternative Risk Financing Alternative risk management solutions for mid-sized companies seeking more control over premiums, claims processes, and overall costs.
• High Net Worth Personal Insurance Specialized personal insurance for affluent individuals covering primary/secondary homes, jewelry, collector cars, personal liability, and umbrella coverage.
• Employee Benefits Employee benefits programs including health, dental, vision, group life, LTD, STD, voluntary benefits, cost management, compliance services, and online enrollment.
• Data and Analytics Methodology Proprietary risk management methodology using data and analytics platform for risk analysis, loss control, policy review, and total cost of risk optimization.
• Construction Industry Insurance Specialized coverage for construction companies including commercial auto liability, builders risk, general liability, pollution liability, errors and omissions, income loss, workers comp, property, umbrella, bonding, and OCIP programs.
• Real Estate Management and Development Insurance Risk coverage for developers, owners, and property managers including property, workers' comp, general liability, umbrella, environmental exposure, E&O, auto liability, and cyber risks.
• Substance Abuse Treatment Facilities Insurance Proprietary insurance program for substance abuse treatment centers with coverage including abuse and molestation, commercial auto, umbrella, cyber, and commercial property.
• Surety Services Surety bond solutions for general contractors, trade contractors, heavy construction, developers, and construction managers including performance bonds, bid bonds, and subcontractor default insurance.
• HiTech Industries Insurance Risk management for technology companies covering property liability, product liability, business income, worldwide cargo, and D&O.

Quantifiable outcome

• Reduced annual costs by 40% for real estate management company with 55 properties
• +8 more outcomes

Named customers8 records

Segments14 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Hilb Group: Middle-market commercial insurance and benefits brokerage that has scaled via acquisition across the Eastern U.S.; comparable deal pace, producer-centric model, and benefits/product mix.
• Hub International: PE-backed insurance brokerage platform (currently Hellman & Friedman) built via aggressive acquisition of regional agencies; closely mirrors Keyes' KAP/Bain-backed roll-up strategy and mid-market commercial focus.
• Acrisure: Rapidly growing PE-affiliated insurance brokerage platform built on hundreds of acquisitions; directly comparable acquisition-led growth model and capital structure archetype for Keyes under KAP.
• Brown & Brown: Florida-headquartered, publicly-traded insurance brokerage with a multi-line commercial, personal, and benefits platform; comparable vertical breadth and Southeast US concentration, with far greater scale (>$4B revenue).
• USI Insurance Services: PE-backed (KKR) middle-market commercial insurance, personal, and benefits brokerage built primarily through acquisition; comparable vertical specialization programs and benefits brokerage mix to Keyes.
• Foundation Risk Partners: Fast-growing PE-backed insurance brokerage platform based in the Eastern U.S. pursuing middle-market commercial and benefits acquisitions — close comparable in scale, deal cadence, and product mix to Keyes.
• AssurePartners: PE-backed middle-market insurance brokerage platform pursuing regional agency acquisitions across the U.S.; near-identical business model — tuck-in M&A of commercial agencies — to Keyes' KAP-backed strategy.

Broad incumbents

• Lockton Companies: Largest privately-held insurance brokerage worldwide, with strong middle-market commercial and specialty practices; comparable family/independence-oriented culture and product breadth.
• Arthur J. Gallagher: Large global insurance brokerage and risk management firm with deep middle-market and specialty practice overlap; Keyes' Daniel Peruyero joined from Gallagher's Marsh & McLennan competitor, evidencing direct talent flow between the firms.
• Marsh & McLennan: Global insurance brokerage and risk advisory powerhouse; Keyes' private equity practice (Daniel Peruyero previously at Marsh) directly competes for large, complex M&A and corporate accounts.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/keyes-coverage

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

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

M&A6 records

Investments

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

Frequently asked questions about Keyes Coverage