Granite Re

What Granite Re does

Granite Re, Inc. is a privately held surety bond insurance company headquartered in Oklahoma City, Oklahoma at 14001 Quailbrook Drive. Founded in 1986 in Oklahoma, the company is domiciled in Minnesota (NAIC code 26310) and conducts business in California through a subsidiary operating entity named Granite Surety Insurance Company. Granite Re's product surface is narrow and focused: it exclusively underwrites surety bonds for small to medium-sized contractors, a customer segment that typically requires contract, commercial, and license-and-permit bonds rather than the mega-project contract bonds that dominate the very top of the surety market.

The company holds an A+ (Superior) financial strength rating from A.M. Best with a financial size category of XV, the highest tier in A.M. Best's capital scale. It is listed by the U.S. Treasury Department as an approved surety, a credential required to write federal contract bonds. Granite Re is licensed to operate in 48 U.S. states (excluding Alaska, Hawaii, and New York) and ranks among the top 30 largest surety writers in the United States. Distribution is conducted exclusively through independent insurance agents and brokers, anchored by affiliations with the National Association of Surety Bond Producers (NASBP), the Surety & Fidelity Association of America (SFAA), and the National Association of Independent Sureties (NAIS).

Granite Re is affiliated with Federated Mutual Insurance Company, as evidenced by corporate references in its privacy disclosures, suggesting shared corporate parentage or a strategic ownership relationship. Revenue is generated primarily through premium-based underwriting on SMB contractor surety bonds, with the financial size category XV designation reflecting substantial policyholder surplus and balance-sheet capacity rather than direct premium volume. No public revenue, headcount, or premium figures are disclosed. There is no evidence of AI or machine learning deployment in underwriting, pricing, or distribution.

Name

Granite Re

Legal name

Granite Re, Inc.

Website

https://granitere.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

11–50 employees

Short description

Granite Re is a private surety bond insurer based in Oklahoma City writing exclusively for small to medium-sized contractors. Rated A+ (Superior) by A.M. Best, licensed in 48 states, and a top 30 U.S. surety writer, it distributes through independent insurance agents and brokers.

Ownership category

akta.pro rank

Headquarters

HQ city

Oklahoma City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Technology or R&D

Revenue model

1. Surety Bond Premiums: Granite Re generates revenue through the issuance of surety bonds to contractors. As a Treasury-listed surety insurer, they collect premiums for performance bonds, payment bonds, and contract bonds. The revenue model is based on risk assumption and underwriting expertise for construction and contractor bonding needs.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Granite Re, Inc. is a Treasury-listed surety insurer that underwrites and issues surety bonds exclusively for small to medium-sized contractors across 48 U.S. states. The company provides contract, performance, and payment bonds through independent insurance agents and brokers, offering creative, flexible underwriting as an alternative to the standard bond market. It also operates in California as Granite Surety Insurance Company and is rated A+ (Superior) by A.M. Best.

Product overview

Granite Re operates as a single-product surety bond provider, offering exclusively surety bonds for contractors. The company provides tailored bond lines for small to medium-sized contractors, functioning as an alternative to the standard bond market since 1986. Granite Re conducts business nationwide as Granite Re, Inc. (NAIC 26310) and in California as Granite Surety Insurance Company.

Differentiator

Problem solved

Functional benefit

Products and services

• Surety Bonds for Contractors Contract surety bonds (performance bonds, payment bonds, and contract bonds) issued exclusively to small and medium-sized contractors across 48 U.S. states. Bonds are sold through independent insurance agents and brokers on behalf of contractors for public and private construction projects. The company also conducts business in California as Granite Surety Insurance Company.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

16 partnerships are on record, tiered core and minor.

• National Association of Surety Bond Producers (NASBP)coreStrategic or Co-development PartnerProfessional association for surety bond producers providing industry advocacy, education, and networking opportunities for professionals in the surety industry.
• Surety & Fidelity Association of America (SFAA)coreStrategic or Co-development PartnerTrade association representing surety and fidelity insurers, providing industry standards, education, and advocacy for the surety bond industry.
• Painting Contractors Association (PCA)minorGTM or Marketing PartnerTrade association serving painting contractors who may require surety bonds for public and private projects.
• Plumbing-Heating-Cooling Contractors (PHCC)minorGTM or Marketing PartnerTrade association for plumbing, heating, and cooling contractors who require bonding for commercial and residential projects.
• National Electrical Contractors Association (NECA)minorGTM or Marketing PartnerTrade association for electrical contractors who may need surety bonds for public works and commercial electrical projects.
• Mason Contractors Association of America (MCAA)minorGTM or Marketing PartnerTrade association for masonry contractors who require performance and payment bonds for construction projects.
• American Subcontractors Association (ASA)minorGTM or Marketing PartnerAdvocacy organization representing subcontractors who frequently require surety bonds for projects.
• Sheet Metal and Air Conditioning Contractors' National Association (SMACNA)minorGTM or Marketing PartnerTrade association for sheet metal and air conditioning contractors who need bonding for HVAC and related construction projects.
• Flooring Contractors Association (FCICA)minorGTM or Marketing PartnerTrade association for flooring contractors who may require payment and performance bonds.
• Air Conditioning Contractors of America (ACCA)minorGTM or Marketing PartnerTrade association for HVAC contractors requiring bonding for residential and commercial projects.
• National Bond Claims Association (NBCA)minorOthersOrganization handling bond claims and providing support for surety claim resolution.
• Surety Claims Institute (SCI)minorOthersProfessional institute providing education and resources for surety claims professionals.
• National Association of Independent Sureties (NAIS)coreStrategic or Co-development PartnerAssociation representing independent surety insurers, providing advocacy and industry representation.
• Radiant Professionals Alliance (RPA)minorGTM or Marketing PartnerTrade association for radiant heating professionals who may require bonding for installations.
• Insulation Contractors Association of America (ICAA)minorGTM or Marketing PartnerTrade association for insulation contractors requiring surety bonds for commercial and residential projects.
• Nexstar NetworkminorGTM or Marketing PartnerNetwork of plumbing, HVAC, and electrical contractors who may require bonding services.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Travelers: Major surety provider through its Bond & Financial Products unit. Comparable in product category (contract surety, commercial surety) but operates as a diversified national carrier rather than a monoline specialist.
• Zurich Insurance Group: Global multi-line insurer with a sizable U.S. surety practice. Overlaps with Granite Re in contract surety for mid-market contractors but operates on a much larger, diversified scale.
• Liberty Mutual Insurance: One of the largest U.S. surety writers and a multi-line P&C carrier. Overlaps with Granite Re in contract and commercial surety but serves much larger national accounts and treats small contractor bonding as a secondary line.
• CNA Financial: Multi-line commercial insurer with a significant surety division serving small through large contractors. Direct overlap with Granite Re in contract surety for the mid-market segment.
• Chubb: Global multi-line insurer with a substantial U.S. surety practice. Competes with Granite Re for contract and commercial surety business, particularly on mid-market and larger accounts.
• Hartford Financial Services: Major surety writer with deep agent distribution. Comparable product set (contract, commercial, license & permit bonds) but offers a broader P&C portfolio alongside bonding.

Direct peers

• SureTec Insurance Company: Specialty surety insurer serving small and mid-market commercial and contract bond needs. Closely comparable to Granite Re in product focus, agent distribution model, and underwriting flexibility.
• International Fidelity Insurance Company (IFIC): Specialty surety writer focused on smaller and mid-market commercial, contract, and court/fidelity bonds. Directly comparable in monoline specialization, agent-driven distribution, and appetite for non-standard contractor risks.
• Capitol Indemnity Corporation: Specialty surety and commercial P&C insurer writing contract and commercial surety through independent agents. Similar target customer (small/medium contractors) and comparable geographic footprint.
• Merchants Bonding Company: Mutual surety specialist focused heavily on small to medium-sized contractors. Closest direct competitor to Granite Re in monoline contractor bonding, agent distribution, and small-contractor underwriting flexibility.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/granite-re-inc-

Compliance4 records

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 Granite Re