What Towerstone does

Towerstone Inc. is a specialty wholesale insurance broker and managing general agency headquartered in Dallas, Texas, operating as a division of IMA Financial Group. Founded in 1985 as a Lloyds of London coverholder focused on energy risks, the firm has expanded organically and through acquisition into seven practice areas: energy, construction, environmental, habitational & real estate, excess casualty, management liability (under the PLUS sub-brand), and small business binding (under the Towerstone Select sub-brand). It works exclusively through independent retail insurance agents and brokers across the United States, providing market access, specialty underwriting expertise, claims advocacy, contractual risk management, and on-site risk control services.

The company's technology stack is light and traditional for a wholesale broker: a digital agent resource portal, an online quoting platform for selected carrier products (USLI and Jacobs Associates), and standard website analytics. Distribution is relationship-driven; agents must complete a formal registration process (Broker Agreement, Agency Questionnaire, license submission) before placing business. Pricing is quote-based, with disclosed minimum premiums for specific products (e.g., $75,000 minimum for package/admitted paper, $5,000 for commercial general liability). Revenue is generated through brokerage commissions on policies placed with both surplus lines carriers and admitted insurance companies.

Towerstone's growth has been driven by a combination of organic vertical build-out and tuck-in acquisitions, including a 2008 acquisition that established the construction practice, a 2013 launch of the environmental division, a 2021 acquisition of Jacobs & Associates, and the 2026 acquisition of Connecticut-based wholesale broker Gremesco to extend Northeast U.S. coverage. The firm is 100% employee-owned and reports a headcount in the 11-50 range.

Name

Towerstone

Legal name

Towerstone Inc.

Website

https://towerstonecorp.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Towerstone is a Dallas-based specialty wholesale insurance broker and managing general agency that places construction, energy, environmental, property, and management liability coverages for independent retail agents across the United States, operating as a division of IMA Financial Group.

Ownership category

akta.pro rank

Product category

Wholesale Specialty Insurance Brokerage

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Surplus Lines Property (CAT/High-Hazard) (FSAJAGAB)

akta.pro secondary industry

Commercial Property Insurance (FSAJACAE)

Keywords

• Wholesale insurance brokerage
• Specialty risk placement
• Surplus lines brokerage
• Energy construction insurance
• Managing general agency

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: Towerstone operates as a wholesale insurance broker earning commissions on insurance policies placed through carriers. Works with both surplus lines carriers (non-admitted) and admitted insurance companies.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Towerstone is a specialty wholesale insurance broker and managing general agency that places hard-to-place commercial insurance for energy, construction, environmental, habitational/real estate, management liability, and excess casualty risks through independent retail insurance agents across the United States. The firm leverages its Lloyds of London coverholder status, surplus lines license, and carrier relationships to access specialty markets on behalf of retail agents and their business clients, while supplementing placement with claims advocacy, risk control, and contractual risk management services.

Product overview

Towerstone is a specialty wholesale insurance broker and managing general agency that operates as a division of IMA Financial Group. The company offers a portfolio of insurance products and services including Energy Insurance, Construction Insurance, Environmental Insurance, Towerstone Select (small business binding platform), Habitational & Real Estate Insurance, PLUS Management Liability, and Excess Casualty Insurance. These core products are complemented by service offerings such as Claims Advocacy, Contractual Risk Management, and Risk Control. Towerstone was established in 1985 as a Lloyds of London coverholder for energy risks and has expanded through the IMA Financial Group acquisition (1998), specialty broker acquisition (2008), and Environmental Division launch (2013) to become one of the largest wholesale specialty brokers in the nation.

Differentiator

Problem solved

Functional benefit

Brands

• Towerstone Select: Binding and general brokerage division providing quick access to diverse markets and managing general agency expertise for small business needs.
• PLUS

Products and services

• Energy Insurance Wholesale insurance brokerage for oil and gas industry risks including control of well, offshore platform damage, onshore/offshore construction, drilling rig physical damage, catastrophe coverage, and loss of production income; backed by 20+ years of energy-specific commercial insurance experience and surplus lines placement expertise.
• Construction Insurance Wholesale construction insurance brokerage providing Commercial General Liability, Builders' Risk, Contractor's Equipment, Errors & Omissions, Umbrella/Excess, Environmental, and Wrap Up coverage for residential and commercial contractors.
• Environmental Insurance Environmental risk insurance covering Contractors Pollution Legal, Site Pollution, Refining/Terminal Operations, Midstream and Gas Processing, Pipelines, Exploration and Production, and Storage Tanks with 20+ years of marketplace expertise.
• Towerstone Select (Small Business Binding) Binding and general brokerage platform for small business insurance providing access to diverse markets through in-house authority, covering GL, Liquor, Property, Excess/Umbrella, D&O, Crime, Auto, Workers' Comp and Inland Marine for contractors, grocery, gas stations, restaurants, bars, apartments, HOAs, condo associations, mercantile, manufacturing, hospitality, and commercial real estate.
• Habitational & Real Estate Insurance Property insurance for condominiums, lessors risk, stock throughput, deductible buy down, builders risk, vacant property, coastal wind, excess property, and large property schedules with domestic and international capacity.
• PLUS Management Liability Specialty management and professional liability coverage including D&O (Private/Public/Non-Profit), Employment Practices, Fiduciary, Errors & Omissions (Miscellaneous, Lawyers, Architects & Engineers, Insurance Agents, Real Estate, Accountants, Technology, Multimedia), Medical (Physicians, Clinics, Home Health, Assisted Living), and Cyber Liability.
• Excess Casualty Insurance Excess liability insurance providing higher limits once underlying umbrella policy limits are reached, covering construction, hospitality, law firms, real estate, retail, wholesale, professional services, and energy (power & utility).
• Claims Advocacy Claims advocacy services leveraging relationships with carriers, third-party administrators, independent adjusters, and legal professionals to help insureds maximize policy benefits through prompt claim reporting, coverage analyses, litigation defense management, and subrogation identification.
• Contractual Risk Management Contract review services analyzing indemnity agreements, master service agreements, subcontracts, joint operating agreements, property leases, and additional insured endorsements to minimize clients' overall business risk.
• Risk Control Risk control services providing on-site assessments of exposures and customized action plans to help reduce loss frequency and severity, supporting the underwriting process and potentially impacting insurance costs.

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and major.

• GremescocoreStrategic or Co-development Partner · 25 February 2026Towerstone acquired Connecticut wholesale broker Gremesco to enhance market access and service capabilities in the Northeast for both companies.
• IMA Financial Group, Inc.coreStrategic or Co-development PartnerTowerstone joined IMA Financial Group in 1998, expanding underwriting relationships to include domestic energy underwriters. Towerstone operates as a division of IMA Financial Group.
• PLUScoreStrategic or Co-development PartnerPLUS has partnered with Towerstone to provide Management Liability specialty capabilities including D&O, E&O, Medical, and Cyber liability coverage options.
• USLI (United States Liability Insurance)majorChannel Partner/ Reseller/ DistributorTowerstone offers online quoting for USLI products through dedicated portal, providing access to specialty insurance markets.
• Jacobs AssociatesmajorChannel Partner/ Reseller/ DistributorTowerstone offers online quoting for Jacobs Associates products through dedicated portal.

Scale indicators2 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Amwins: Amwins is the largest US wholesale insurance broker and specialty MGA, placing property, casualty, and specialty risks through retail agents. It directly competes with Towerstone across energy, construction, environmental, and excess casualty placements, and is the benchmark specialty wholesaler in the market.
• CRC Group: CRC Group is a major US wholesale insurance broker specializing in commercial and specialty lines including energy, construction, environmental, and excess casualty. It directly mirrors Towerstone's vertical specialty model and serves the same independent retail agent channel.
• Burns & Wilcox: Burns & Wilcox is a North American wholesale insurance broker and MGA placing specialty and surplus lines through retail agents. It competes with Towerstone across excess casualty, property, and specialty commercial lines, with comparable binding authority and carrier access programs.
• Brown & Riding: Brown & Riding is a wholesale insurance broker with deep expertise in large, complex specialty risks including energy, construction, and environmental placements. It is closely comparable to Towerstone on specialty expertise, surplus lines access, and relationship-driven retail agent distribution.
• RPS (Risk Placement Services): RPS is a wholesale broker and specialty MGA placing property, casualty, and professional lines for retail agents. It is now part of Brown & Brown but operates as a distinct specialty wholesale platform directly comparable to Towerstone's broker-of-record specialty model.

Broad incumbents

• Swett & Crawford: Swett & Crawford is the wholesale brokerage division of Marsh (a Marsh McLennan company), placing excess and surplus lines through retail agents. It is comparable to Towerstone as a wholesale specialty broker but operates with the backing of a global insurance services giant, giving it materially broader carrier access and capital.
• IMA Financial Group: IMA Financial Group is Towerstone's parent company and one of the largest US independent insurance brokerages. It is the parent context for evaluating Towerstone and shares overlapping commercial and energy brokerage capabilities with Towerstone through other divisions.

Emerging players

• NSM Insurance Group: NSM Insurance Group is a specialty insurance program manager and wholesale distributor focused on niche commercial and personal lines. It is comparable to Towerstone on specialty distribution and binding authority but focuses on program-based niche products rather than open wholesale brokerage.

Others

• Berkley Specialty Excess Surplus Lines (W. R. Berkley): W. R. Berkley operates specialty surplus lines insurance carriers including property, casualty, and environmental writers. It is comparable as a capacity provider that Towerstone's wholesale brokerage places business with, and reflects the carrier-side economics that drive Towerstone's commission income.
• James River Insurance Group: James River Insurance is a specialty E&S carrier writing commercial excess, environmental, energy, and management liability coverages. It is comparable as a specialty carrier partner for Towerstone's wholesale placements, particularly on excess casualty, environmental, and management liability lines.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/towerstoneinc
• Facebookfacebook.com/TowerstoneInc

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Towerstone