Monarch E&S Insurance Services

What Monarch E&S Insurance Services does

Monarch E&S Insurance Services is a wholesale insurance brokerage division of Specialty Program Group LLC (SPG), a top-20 global insurance broker headquartered in Burbank, California. Founded in 1986 and rebranded to SPG Wholesale, the firm specializes in Excess & Surplus (E&S) lines, acting as an intermediary between retail brokers and non-standard insurance markets for hard-to-place risks. Its core platform centers on contract binding authority and direct carrier access across specialized verticals including mining, coastal property, railroad, trucking, environmental, construction, and personal lines, supported by dedicated product divisions (Commercial Lines, ExecuPro, Personal Lines, Environmental, Construction, and a recently launched Life & Annuity Division).

The firm generates revenue through commissions paid by insurance carriers on premium volume placed through its wholesale channel, operating on a transaction-based take-rate model rather than disclosed fixed pricing. Its go-to-market is exclusively B2B, serving retail insurance brokers who need E&S market access for their commercial clients; distribution occurs entirely through retail broker channel partners rather than direct-to-consumer. Recent operational expansion has been driven by inorganic growth — four acquisitions completed between 2023 and 2025 (Commonwealth Underwriters, Commercial Sector Insurance Brokers, Professional Insurance Executives, Market Finders) — broadening regional reach into the Southwest, Southeast, and Texas while deepening vertical capability.

Monarch E&S maintains 51-100 employees and is led by President Derek Borisoff and President Yiana Stavrakis, with Devon Borisoff as VP of Carrier Relations. It was recognized by Insurance Business America in March 2025 as a 5-Star Wholesale Broker & MGA alongside Wholesure and Gorst & Compass. The firm operates under E&S market tailwinds — US surplus lines direct premium written reached $115.6 billion in 2023, up 17.4% year-over-year — and benefits from increasing retail broker reliance on wholesale channels.

Name

Monarch E&S Insurance Services

Legal name

Specialty Program Group, LLC

Website

https://monarchexcess.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

51–100 employees

Short description

Monarch E&S Insurance Services (SPG Wholesale) is a wholesale insurance brokerage division of Specialty Program Group LLC that places E&S and specialty coverage for retail brokers across mining, transportation, coastal property, environmental, and construction verticals via contract binding authority.

Ownership category

akta.pro rank

Product category

Wholesale Insurance Brokerage (Excess & Surplus Lines)

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411), Insurance Carriers, Nec (6399)

akta.pro primary industry

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

akta.pro secondary industries

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ), Surplus Lines Property (CAT/High-Hazard) (FSAJAGAB)

Keywords

• Wholesale insurance brokerage
• Excess and surplus lines
• Specialty insurance placement
• Commercial lines brokerage
• Non-admitted insurance markets

Headquarters

HQ city

Burbank

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Others

Revenue model

1. Wholesale Insurance Brokerage: Monarch E&S operates as a wholesale broker earning commissions from insurance carriers for placing business. The company serves as an intermediary between retail brokers and insurance markets, specializing in E&S lines that standard insurers won't cover.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Monarch E&S Insurance Services is a wholesale insurance brokerage that places specialty, hard-to-place, and Excess & Surplus lines risks on behalf of retail insurance brokers. The firm works across commercial lines, personal lines, environmental insurance, construction insurance, life and annuity products, and a high-net-worth personal lines offering branded ExecuPro, sourcing coverage from non-admitted and surplus lines carriers.

Differentiator

Problem solved

Functional benefit

Brands

• Commercial Lines: Commercial insurance products including auto liability, commercial property, excess liability, general liability, inland marine, and liquor liability
• ExecuPro
• Personal Lines
• Environmental
• Construction

Products and services

• Commercial Lines Wholesale brokerage placement of specialty commercial insurance risks that admitted carriers decline, served to retail insurance brokers across the United States.
• ExecuPro Dedicated personal-lines offering for high-net-worth individuals requiring specialty personal insurance placement, delivered via Monarch's wholesale brokerage relationships with E&S and non-admitted carriers.
• Personal Lines Wholesale placement of specialty personal insurance risks on behalf of retail brokers, leveraging non-admitted and surplus lines carriers for non-standard personal exposures.
• Environmental Insurance Wholesale placement of environmental insurance coverage, a specialty line requiring dedicated underwriting expertise, sourced from specialty carriers for retail brokers' commercial clients.
• Construction Insurance Wholesale placement of construction-related specialty insurance risks (e.g., contractors, builders, associated liability) with non-admitted carriers for retail brokers' insureds.
• Life & Annuity Division Wholesale brokerage placement of life and annuity products for retail brokers and their clients, expanding Monarch's offering beyond P&C specialty lines.

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Various Insurance CarrierscoreOthersSPG Wholesale maintains strong carrier partnerships that enable exclusive, broad, and cost-effective coverage solutions for retail broker clients. The specific carrier names are not disclosed in available materials.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Amwins: Amwins is the largest US wholesale insurance broker and managing general agent, specializing in E&S property, casualty, and specialty lines distributed through retail brokers — directly comparable to Monarch E&S's wholesale brokerage model and contract binding capabilities.
• Burns & Wilcox: Burns & Wilcox is a major US wholesale insurance brokerage and MGA serving retail agents with surplus lines and specialty coverage across commercial, professional liability, and personal lines — closely comparable to Monarch E&S across product breadth and channel.
• CRC Group: CRC Group is a leading US wholesale insurance broker serving retail producers with E&S and specialty products across commercial, professional, and personal lines — directly comparable in distribution model, product mix, and retail-broker channel focus.
• Ryan Specialty Group (RPS): Ryan Specialty is a publicly traded specialty insurance broker with a wholesale brokerage arm (RPS) and contract binding capabilities that mirror Monarch E&S's core wholesale E&S offering — one of the closest direct competitors in scale and product breadth.
• Westport Insurance Corporation: Westport Insurance is an E&S-focused underwriting platform (historically tied to Swiss Re) with contract binding and surplus lines distribution through wholesale brokers — comparable as a specialty carrier-MGA hybrid in the same E&S ecosystem as Monarch.
• Wholesure: Wholesure is a US wholesale insurance broker focused on E&S and specialty lines for retail producers — co-recognized with Monarch E&S as a 2024 Insurance Business America 5-Star Wholesale Broker & MGA, indicating comparable scale and channel positioning.
• Gorst & Compass: Gorst & Compass is a wholesale insurance brokerage serving retail agents with specialty and E&S placements — co-recognized with Monarch E&S as a 2024 Insurance Business America 5-Star Wholesale Broker & MGA, signalling a comparable role in the E&S wholesale market.
• Brown & Riding Insurance Services: Brown & Riding is a US wholesale insurance brokerage placing E&S and specialty coverage for retail producers across commercial and professional lines — comparable wholesale distribution model and specialty line breadth to Monarch E&S.

Broad incumbents

• IMA Financial Group: IMA is a large national retail and wholesale insurance brokerage with specialty risk placement capabilities overlapping Monarch's commercial lines and E&S offerings, though distributed across a broader portfolio of insurance services.

Emerging players

• Skyward Specialty Insurance Group: Skyward Specialty is a relatively new specialty commercial insurance carrier with E&S capabilities distributed through wholesale brokers — comparable as a specialty/E&S market participant but operating primarily as a carrier rather than a brokerage.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/specialty-program-group
• Xx.com/MonarchES
• Facebookfacebook.com/MonarchESInsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

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

M&A4 records

Investments

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

Frequently asked questions about Monarch E&S Insurance Services