Granada Indemnity Company

What Granada Indemnity Company does

Granada Indemnity Company is a privately held commercial property and casualty insurance carrier headquartered in Long Beach, New York, that has operated continuously since 1979 (originally as North Sea Insurance Company). The company underwrites commercial property, general liability, commercial auto, and specialty coverage lines targeted at small to mid-sized businesses — including neighborhood retailers, property owners, light manufacturers, restaurants and taverns, and professional offices. Granada Indemnity carries an A- (Excellent) financial strength rating from AM Best and is a member of Granada Financial Group following a 2021 spin-off from the Lancer Group and a 2022 corporate rebrand.

The carrier distributes exclusively through a network of independent insurance producers, with its core Commercial Property & Liability product actively marketed in New York, New Jersey, Pennsylvania, and Connecticut while maintaining licensure across 15 U.S. states. Specialized program partnerships extend the product surface: InShare handles commercial auto (including coverage for Amazon delivery operators), Core-Programs delivers a middle market real estate commercial package program, and MOPS provides marine license insurance. The underwriting technology is described as a standard commercial P&C platform with online quoting, direct billing, and a producer service portal — there are no disclosed proprietary AI/ML, advanced data, or API capabilities. Revenue is generated through insurance premiums on annual billing cycles, collected either direct-bill from policyholders or via producers, with payment processing handled through One, Inc. under PCI DSS compliance.

From a corporate history standpoint, the company was acquired by Lancer Financial Group in 2009, renamed Lancer Indemnity Company in 2013, spun off in 2021 under unchanged ownership, and rebranded as Granada Indemnity Company in 2022. The firm is governed by New York state law, employs 51–100 people, and does not publicly disclose revenue or capital figures. The combined picture is of a mature, niche-focused regional commercial carrier pursuing incremental growth through program-partner distribution rather than technology-led or geographic mass-market expansion.

Name

Granada Indemnity Company

Legal name

Granada Indemnity Company

Website

https://granadaindemnity.com

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

51–100 employees

Short description

Granada Indemnity Company is a private A- (Excellent) AM Best-rated commercial property and casualty insurer serving small to mid-sized U.S. businesses across 15 states through independent insurance producers and program partners.

Ownership category

akta.pro rank

Headquarters

HQ city

Long Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: Granada Indemnity generates revenue through commercial property and casualty insurance premiums. Policies cover commercial property, general liability, commercial auto, and specialized coverages for small to mid-sized buildings and businesses. Premiums are collected through direct billing to policyholders and producer-collected premiums.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Granada Indemnity Company is a standard lines commercial property and casualty insurance carrier that underwrites and issues insurance policies for small to mid-sized buildings and businesses across multiple U.S. states. Its core offerings include Commercial Property & Liability, Commercial Auto, Middle Market Real Estate, and Marine License Insurance, distributed through independent insurance producers and program partners.

Product overview

Granada Indemnity Company is a standard lines, commercial property and casualty insurance company offering a portfolio of insurance products through a network of independent insurance producers. The company's core offerings include Commercial Property & Liability Insurance (available in NY, NJ, PA, and CT), Commercial Auto Insurance, Middle Market Real Estate programs, and MOPS Marine License Insurance. These products are designed for small to mid-sized commercial lines risks and can be structured as Commercial Package Policies combining property coverage, general liability, and other specialized coverages. The company also provides online quoting, billing, and claims reporting services through its digital platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Auto Insurance Commercial auto insurance coverage for vehicles used in business operations, marketed through the InShare platform for commercial accounts including Amazon delivery operators.
• Commercial Property & Liability Insurance Commercial property and liability coverage for small to mid-sized buildings and businesses, including property coverage, general liability, and commercial package policies. Available in New York, New Jersey, Pennsylvania, and Connecticut.
• Middle Market Real Estate Insurance Program Insurance program for middle market commercial real estate properties, offered through Granada Indemnity's partnership with Core-Programs.
• MOPS Marine License Insurance Marine license insurance coverage for marine-related businesses, offered through the MOPS Marine License Insurance program as part of Granada Indemnity's product portfolio.
• Commercial Package Policy (CPP) Flexible policy allowing businesses to combine multiple coverages including property and general liability into a single policy tailored to their specific protection needs.
• Property Coverage Coverage safeguarding business-owned and leased property including furniture, equipment, inventory, and fixtures against loss or damage from fire, theft, or other disasters.
• General Liability Insurance Protection against claims of bodily injury, property damage, and negligence related to products, services, or operations, defending businesses from lawsuits and protecting company assets.

Quantifiable outcome

• Decades of practical knowledge serving small to mid-sized businesses

Segments7 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• One, Inc.coreTechnology or IntegrationElectronic payment service vendor providing the online payment interface for Granada Indemnity's billing system. The service enables policyholders and producers to pay bills electronically. Payment options include eCheck, debit card, and major credit cards. The vendor complies with Payment Card Industry Data Security Standards (PCI DSS).
• Lancer Financial Group, Inc.minorOthersOriginal parent company that acquired North Sea Insurance Company (now Granada Indemnity) in 2009. Granada Indemnity spun off from the Lancer Group in 2021 but remains under the same ownership and executive leadership.
• InSharecoreChannel Partner/ Reseller/ DistributorCommercial auto insurance program partner. InShare handles commercial auto insurance policies, including those for Amazon delivery operators. Granada Indemnity provides the underlying insurance products.
• Core-ProgramscoreChannel Partner/ Reseller/ DistributorMiddle Market Real Estate program partner offering commercial package programs for middle market real estate properties. Granada Indemnity provides the insurance products through this channel.
• MOPS Marine License InsurancecoreChannel Partner/ Reseller/ DistributorSpecialty marine license insurance program partner. MOPS provides marine license insurance products as part of Granada Indemnity's product portfolio.

Scale indicators3 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Lancer Insurance Company: Former parent company of Granada Indemnity (under Lancer Financial Group until 2021), Lancer Insurance is one of the largest writers of commercial auto insurance in the U.S. It shares a common ownership heritage and overlapping product lines (particularly commercial auto and SMB commercial), making it the closest historical and operational peer.
• Granada Insurance Company: Sister company under the Granada Financial Group umbrella. Both Granada entities operate in commercial insurance with overlapping producer networks, providing directly comparable specialty commercial lines offerings to the SMB market.
• Selective Insurance Group: Regional commercial P&C carrier focused on small and mid-sized businesses distributed through independent agents. Similar size profile, geographic concentration in the Northeast/Mid-Atlantic, and A- rated financial strength — making it one of the most directly comparable public peers.
• Employers Holdings: Small-business-focused workers' comp and commercial P&C carrier distributed through independent agents. Comparable in size, target customer (small businesses), and A-rated financial strength profile.

Broad incumbents

• Travelers Companies: One of the largest U.S. commercial P&C insurers with a substantial SMB commercial book ("Small Commercial" segment). Competes with Granada in commercial property, general liability, and commercial auto, but at much greater scale and national footprint.
• The Hartford Financial Services Group: Major commercial lines insurer with a strong Small Business insurance franchise. Competes with Granada across commercial property, general liability, and workers' comp for SMB accounts, particularly through independent agents.
• Cincinnati Financial Corporation: Mid-market commercial P&C carrier distributed almost exclusively through independent agents, similar to Granada. Strong overlap in serving smaller commercial accounts with property and casualty coverage across multiple states.
• Hanover Insurance Group: Commercial and personal P&C insurer with strong specialty commercial lines and independent agent distribution. Competes with Granada in SMB commercial accounts, particularly in Northeast and Mid-Atlantic regions.
• Chubb Limited: One of the largest global P&C insurers with a substantial middle-market and small commercial franchise in the U.S. Competes with Granada in commercial property, general liability, and specialty commercial lines through independent agents.
• Markel Corporation: Specialty insurance carrier with strong presence in commercial P&C and excess & surplus lines. Competes with Granada on specialty commercial risks and program business, including niche classes like marine license insurance.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/granada-indemnity-company

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Granada Indemnity Company