HM Insurance Group
HM Insurance Group is a Pittsburgh-based national Stop Loss carrier and Highmark Health subsidiary that protects 1,200+ self-funded employer plans from catastrophic health-claim costs via Stop Loss, Provider Excess, and Assumed A&H Reinsurance, distributed through independent brokers and 16 regional sales offices.
- Company typePrivate
- Founded1983
- HeadquartersPittsburgh, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What HM Insurance Group does
HM Insurance Group is a leading national Stop Loss carrier and a wholly owned subsidiary of Highmark Health, operating through three regulated insurance entities (HM Life Insurance Company in Pittsburgh, HM Life Insurance Company of New York, and Bridge City Insurance Company). Founded in the 1980s and headquartered in Pittsburgh, PA, HM writes specific and aggregate Stop Loss coverage that protects self-funded employers from catastrophic, health-related claim costs, and insures 1,200+ self-funded plans across all 50 states and the District of Columbia.
The company's product portfolio centers on Stop Loss Insurance as the core line, supplemented by the HM Specialty platform — Assumed Accident and Health Reinsurance (quota share and excess) for ceding carriers, captives, and health plans, and Provider Excess Insurance for healthcare providers — and the HMConnects cost-containment program providing clinically based specialty services. Underlying technology is primarily insurance-core rather than AI-native: an authenticated producer portal (eServices), eBill billing system, eClaims claims submission, and the HMConnects specialty services framework. The company's actuarial function, led by Chief Actuary Wade Riddle (FSA, MAAA), develops pricing tools, valuation methodologies, advanced analytics, and capital-efficiency modeling underpinned by a historical dataset of 231,733 stop loss claims totaling more than $4.2 billion over five years.
HM generates revenue almost entirely through recurring insurance premiums: stop loss premiums charged to self-funded employers, provider excess premiums underwritten across its three carriers, and assumed accident and health reinsurance premiums from ceding carriers and health plans. Distribution is conducted through an extensive independent producer/broker network compensated at 5-15% base commission, supported by 16 regional sales offices across the U.S. and a national sales team of roughly 90 directors and consultants. The firm is licensed in all 50 states plus DC, holds an A (Excellent) Financial Strength Rating from AM Best (affirmed August 2025), and reports annual gross revenues of more than $1.2 billion, while currently executing pricing and cost-mitigation actions in response to a $107 million operating loss driven by rising high-cost claims, with continued headwinds expected through 2026.
HM Insurance Group firmographics
Firmographics- Name
- HM Insurance Group
- Legal name
- HM Insurance Group
- Website
- https://hmig.com
- Company type
- Private
- Founded year
- 1983
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- HM Insurance Group is a Pittsburgh-based national Stop Loss carrier and Highmark Health subsidiary that protects 1,200+ self-funded employer plans from catastrophic health-claim costs via Stop Loss, Provider Excess, and Assumed A&H Reinsurance, distributed through independent brokers and 16 regional sales offices.
- Ownership category
- akta.pro rank
HM Insurance Group industry classification
Industry- Product category
- Stop Loss Insurance
- NAICS
- Direct Health and Medical Insurance Carriers (524114), Insurance Carriers and Related Activities (524)
- SIC
- Accident & Health Insurance (6321), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Self-Funded (ASO) Group Health Plans & Stop-Loss (FSAIAFAB)
Keywords
Where HM Insurance Group is headquartered
LocationHeadquarters
- HQ city
- Pittsburgh
- HQ country
- United States
- HQ region
- North America
Offices17 records
Markets served
HM Insurance Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Stop Loss Insurance Premiums: HM Insurance Group generates revenue primarily through stop loss insurance premiums charged to self-funded employers. The company acts as a direct writer for stop loss coverage, protecting employers from catastrophic health-related claim costs.
- Provider Excess Insurance: Revenue from provider excess insurance coverage underwritten by HM Life Insurance Company, Bridge City Insurance Company, or HM Life Insurance Company of New York.
- Assumed Accident and Health Reinsurance: HM Specialty team provides reinsurance quota share and excess coverage solutions for accident and health carriers, captives, and health plans.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Other | Producer compensation ranges from 5% to 15% base commission |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
HM Insurance Group product offering
Product offeringCore offering
HM Insurance Group underwrites Stop Loss insurance that protects self-funded employers from catastrophic health-related claim costs. Through its HM Specialty division, it also delivers Assumed Accident and Health Reinsurance (quota share and excess coverage) for carriers, captives, and health plans, as well as Provider Excess Insurance for healthcare providers. The company operates through three underwriting carriers: HM Life Insurance Company, HM Life Insurance Company of New York, and Bridge City Insurance Company.
Product overview
HM Insurance Group (HM) operates as a leading national Stop Loss carrier with a portfolio centered on Stop Loss Insurance as its core product. The company also delivers HM Specialty products including Assumed Accident and Health Reinsurance and Provider Excess Insurance. These offerings are supported by the HMConnects™ cost containment program. The company is comprised of three underwriting carriers: HM Life Insurance Company (Pittsburgh, PA), HM Life Insurance Company of New York (New York, NY), and Bridge City Insurance Company (Pittsburgh, PA). HM serves self-funded employers, ceding carriers, providers, health plans, business partners, and broker communities across all 50 states and the District of Columbia.
Differentiator
Problem solved
Functional benefit
Brands
- HM Specialty: Provides reinsurance quota share and excess coverage solutions for accident and health carriers, captives and health plans, and excess loss insurance for providers
- HMConnects
- HM Specialty Forms
Products and services
- Stop Loss Insurance Core insurance product that protects self-funded employers from the potential financial risks associated with catastrophic, health-related claim costs. Offered through HM Life Insurance Company, Bridge City Insurance Company, and HM Life Insurance Company of New York. Specific and aggregate stop loss coverage available.
- HM Specialty - Assumed Accident and Health Reinsurance Reinsurance product line delivering Assumed Accident and Health Reinsurance quota share and excess coverage solutions for accident and health carriers, captives, and health plans.
- HM Specialty - Provider Excess Insurance Excess loss insurance product providing financial protection for healthcare providers against catastrophic medical expenses.
Quantifiable outcome
- 99.98% of Stop Loss claims processed within 6 business days
- +3 more outcomes
Companies that use HM Insurance Group
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
HM Insurance Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
HM Insurance Group partnerships and signals
Strategic signalScale indicators13 records
Recent moves7 records
Expansion highlights5 records
HM Insurance Group competitors and assessment
Company assessmentDirect peers
- Sun Life Financial (U.S. Stop Loss / Group Benefits): Sun Life's U.S. group benefits business includes a major Stop Loss division serving self-funded employers and operates through independent brokers and TPAs in the same employer stop loss market as HM Insurance Group, making it one of HM's closest direct competitors.
- Tokio Marine HCC (Stop Loss): Tokio Marine HCC operates a dedicated stop loss insurance unit underwriting specific and aggregate coverage for self-funded employers nationwide, directly competing with HM in broker-distributed employer stop loss placements.
- Voya Financial (Stop Loss): Voya is a major direct writer of Stop Loss insurance for self-funded employer plans, similarly distributing through brokers and consultants. It competes head-to-head with HM on group sizes and renewal cycles.
- Symetra Life Insurance Company: Symetra is a Stop Loss carrier offering specific and aggregate coverage to self-funded employers through brokers and TPAs; its product menu and distribution model closely mirror HM's, making it a focused direct competitor.
- Mutual of Omaha: Mutual of Omaha writes Stop Loss insurance and provider excess coverage for self-funded employers, distributed through brokers — a direct peer in size and target customer to HM Insurance Group.
Broad incumbents
- Everest Reinsurance Company: Everest is a large global reinsurer with accident & health and Stop Loss reinsurance capacity that competes upstream of HM Specialty and overlaps with HM for both reinsurance partners and underwriting talent.
- RGA Reinsurance Company: Reinsurance Group of America provides accident & health reinsurance including stop loss quota share to carriers and self-funded plan administrators; it overlaps with HM Specialty's reinsurance product and shapes market pricing.
- Cigna Group (Stop Loss / Group Benefits): Cigna offers Stop Loss through its health benefits business with significantly broader scale, distribution, and provider/PBM integration; competes with HM for large employer stop loss placements and partnership deals.
- Munich Re (Life/Health Reinsurance): Munich Re provides accident and health reinsurance capacity, including stop loss quota share, to U.S. self-funded plan administrators and carrier clients; competes with HM Specialty for reinsurance relationships and shapes market capacity.
Others
- Highmark Inc. (Health Plan): Highmark is the parent health plan of HM Insurance Group and a related Blue-affiliated payer; relevant as the corporate parent and a major customer/coordination counterpart for self-funded arrangements rather than a direct competitor in stop loss underwriting.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
HM Insurance Group social profiles
Digital presenceHM Insurance Group compliance and trust
Trust signalCompliance1 record
HM Insurance Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
HM Insurance Group leadership team
Management profileNumber of profiles
Profiles16 records
HM Insurance Group subsidiaries and ownership
Company hierarchySubsidiaries3 records
HM Insurance Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
HM 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 HM Insurance Group
What does HM Insurance Group do?
HM Insurance Group underwrites Stop Loss insurance that protects self-funded employers from catastrophic health-related claim costs. Through its HM Specialty division, it also delivers Assumed Accident and Health Reinsurance (quota share and excess coverage) for carriers, captives, and health plans, as well as Provider Excess Insurance for healthcare providers. The company operates through three underwriting carriers: HM Life Insurance Company, HM Life Insurance Company of New York, and Bridge City Insurance Company.
Is HM Insurance Group a public or private company?
HM Insurance Group is a private company. It is classified as corporate owned and is currently operating.
When was HM Insurance Group founded?
HM Insurance Group was founded in 1983. It employs 251 to 500 people.
Where is HM Insurance Group based?
HM Insurance Group is headquartered in Pittsburgh, United States, in the North America region.
How does HM Insurance Group make money?
Three revenue lines are on record. Stop Loss Insurance Premiums are the primary driver. The others are provider Excess Insurance and assumed Accident and Health Reinsurance.
Who are HM Insurance Group's main competitors?
Direct peers on record are Sun Life Financial (U.S. Stop Loss / Group Benefits), Tokio Marine HCC (Stop Loss), Voya Financial (Stop Loss), Symetra Life Insurance Company and Mutual of Omaha. Broad incumbents are Everest Reinsurance Company, RGA Reinsurance Company, Cigna Group (Stop Loss / Group Benefits) and Munich Re (Life/Health Reinsurance). Highmark Inc. (Health Plan) is listed as an others.
Does HM Insurance Group have an API?
No public API is recorded for HM Insurance Group.
What industry is HM Insurance Group in?
HM Insurance Group's product category is Stop Loss Insurance. Its primary akta.pro industry code is FSAIAFAB, Self-Funded (ASO) Group Health Plans & Stop-Loss. Its NAICS code is 524114 and its SIC code is 6321.