xpt

What xpt does

XPT Group LLC, formed in 2017 and headquartered in Plano, Texas, is a specialty insurance distribution platform that operates two integrated pillars: XPT Specialty, a wholesale brokerage and binding firm connecting independent retail agents with specialty and excess & surplus (E&S) markets across dozens of commercial and personal lines; and Platinum Specialty Underwriters, a Managing General Underwriter (MGU) and program platform that develops and manages binding-authority programs for hard-to-place risks including trucking, hospitality, construction, property, environmental and flood. The company distributes through 22 U.S. offices and a portfolio of acquired brands (WSS, W.E. Love, SVA, Sierra Specialty, LP Risk, S&H Underwriters, Klein & Costa, IPC, Houston Surplus Lines, WestPro, Flood Risk Solutions) alongside proprietary programs (Platinum Excess Trucking, Platinum Property Program, Sierra Farm, Gambit Re). Underlying technology consists of a tech-enabled distribution stack that supports expert underwriters and brokers with quoting, binding, claims management, loss inspection and actuarial analysis, including Flood Risk Solutions' proprietary first-to-market flood multi-rater integration platform developed in 2018.

XPT earns revenue primarily through wholesale brokerage commissions on placed premiums and through MGA/MGU underwriting fees, binding fees, and profit participation on programs it manages, with the recent launch of Gambit Risk Finance (Gambit Re) extending economics into reinsurance. The GTM motion is sales-led and relationship-driven: growth is generated by acquiring specialty wholesale and underwriting businesses, hiring established producer teams with books of business, and launching new MGA programs rather than building consumer-facing channels. Customers are independent retail insurance agents and brokers (B2B SMBs) across the United States seeking access to specialty markets; coverage verticals span trucking/transportation, construction, hospitality (bars/taverns/restaurants), agriculture, environmental, flood, personal lines, professional lines and workers' compensation. The company is privately held, with B.P. Marsh & Partners Plc (AIM: BPM) as a long-standing institutional investor holding a 32.2% stake following the 2019 Madison Capital Funding round, and reports over $550 million in Gross Written Premium.

Name

xpt

Legal name

XPT Group LLC

Website

https://xptholdco.com

Company type

Private

Founded year

2017

Operating status

Operating

Short description

XPT Group LLC is a U.S. specialty insurance wholesale distribution platform, operating XPT Specialty wholesale brokerage and Platinum Specialty Underwriters MGU/MGA programs across trucking, hospitality, construction, property, flood and other hard-to-place lines. It serves independent retail insurance agents through 22 offices nationwide and writes over $550 million in GWP.

Ownership category

akta.pro rank

Product category

Specialty Insurance Distribution

NAICS

Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

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

Keywords

• Wholesale insurance brokerage
• Specialty insurance distribution
• Managing general agency
• Excess surplus lines
• Insurance program administration

Headquarters

HQ city

Plano

HQ country

United States

HQ region

North America

Offices18 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Wholesale Brokerage Commissions: XPT operates as a specialty insurance wholesale distribution platform earning commissions from placing insurance products for retail agents through carrier relationships.
2. MGA Program Administration: Managing General Agency operations through Platinum Specialty Underwriters, managing binding authority programs and earning underwriting profits from specialty lines including trucking, property, construction, and hospitality.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

XPT Group LLC operates a specialty insurance wholesale distribution platform for Property and Casualty risks, serving retail insurance agents and brokers. Through its two core platforms, XPT Specialty (wholesale brokerage and binding authority) and Platinum Specialty Underwriters (MGA/MGU underwriting), the company places specialty and excess & surplus lines coverage and develops binding authority programs across trucking, construction, hospitality, environmental, property, agribusiness, and flood insurance. XPT writes over $550 million in Gross Written Premium and supports retail agents through tech-enabled quoting, binding, issuing, and payment workflows.

Product overview

XPT is a specialty insurance distribution platform formed in 2017 that operates as a platform-plus-partners model. The company brings together underwriting and wholesale brokerage firms across many specialty lines through acquisitions and new product development. XPT Specialty serves as the core wholesale brokerage and binding platform, while Platinum Specialty Underwriters functions as the MGU/MGA component focused on challenging and hard-to-insure risks. The portfolio includes acquired brands (WSS, Sierra Specialty, LP Risk, SVA, WEL, S&H Underwriters, Klein & Costa, IPC, WestPro, and Flood Risk Solutions) along with proprietary programs like Platinum Excess Trucking, Platinum Property Program, and Gambit Re reinsurance vehicle. The company writes over $550 million in Gross Written Premium (GWP) across specialty lines including trucking, transportation, environmental, bars/taverns, construction, personal lines, and flood insurance.

Differentiator

Problem solved

Functional benefit

Brands

• XPT Specialty: Wholesale brokerage and binding firm connecting insurance professionals with specialized solutions across multiple industries
• Platinum Specialty Underwriters
• Western Security Surplus (WSS)
• XPT Transportation
• Flood Risk Solutions (FRS)
• WestPro Insurance Services
• Sierra Specialty
• Platinum Excess Trucking
• Platinum Property Program
• Gambit Risk Finance (Gambit Re)
• Sierra Farm

Products and services

• XPT Specialty Wholesale Brokerage Platform Wholesale brokerage and binding firm that connects retail insurance agents with specialized property and casualty solutions across multiple specialty lines through strong market relationships and a client-first approach.
• Platinum Specialty Underwriters MGA/MGU Platform Managing General Underwriter platform that brings creative insurance solutions to unique and challenging risks, combining expert underwriting, claims management, loss inspection, and actuarial analysis on leading service technology.
• Flood Risk Solutions (FRS) Technology-driven MGA offering comprehensive flood insurance products and custom parametric insurance solutions with proprietary first-to-market flood multi-rater technology enabling seamless quoting, binding, issuing, and payment for brokers.
• Platinum Excess Trucking Managing General Underwriter specializing in Excess Liability for trucking and specialty auto accounts, focusing primarily on smaller to mid-size accounts with capacity for larger accounts within underwriting guidelines.
• Platinum Property Program Property insurance solutions for commercial real estate, hospitality, habitational, retail, and service-related risks throughout the United States, led by Managing Director Bryan McGarry and CUO Adam Berger.
• Gambit Risk Finance (Gambit Re) Reinsurance vehicle founded by Platinum executives to support Platinum Specialty Underwriters' programs and enable broader reinsurance market participation through strategic partnerships.

Quantifiable outcome

• Over $550 million in Gross Written Premium
• +1 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered strategic and core.

• Flood Risk Solutions, Inc.strategicStrategic or Co-development Partner · 22 May 2024XPT Specialty acquired Flood Risk Solutions, Inc. (FRS), a technology-driven MGA specializing in flood insurance and custom parametric solutions. Founded in 2017 by Brendan Moeller and Eugene Podokshik, FRS offers proprietary multi-rater technology for flood insurance quoting and binding.
• S&H UnderwritersstrategicStrategic or Co-development Partner · 3 November 2021Western Security Surplus (WSS) acquired S&H Underwriters, a Vermont-based MGA and surplus lines broker founded in 1998. The acquisition expanded WSS-XPT into New England and the Mid-Atlantic States, providing insurance solutions for excess, surplus lines and specialty insurance.
• ObsidianstrategicStrategic or Co-development Partner · 21 January 2021WestPro Insurance Services partnered with Obsidian, an A.M. Best rated 'A-' hybrid fronting program carrier, for bar, tavern and restaurant coverage. The partnership brings together underwriting, technical and operational expertise of a program administrator with a next generation fronting carrier and top tier reinsurance partners.
• Sierra Specialty Insurance Services Inc.coreStrategic or Co-development Partner · 13 September 2019XPT acquired Sierra Specialty, an MGA and wholesale broker based in Fresno, California specializing in agribusiness, P&C brokerage, transportation, garage, and general authority underwriting. Led by Kathy Schroeder and Mark Schroeder, Sierra continues to operate under its established brand.

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• AmWins Group: AmWins is the largest US specialty wholesale distributor and MGU/MGA platform, offering brokerage, binding authority, and program business across property, casualty, and specialty lines. Multiple XPT executives (Mark Smith, others) came from AmWins, making it the closest structural and operational analogue, though at materially larger scale.

Direct peers

• RPS (Risk Placement Services): RPS is a specialty wholesale brokerage and MGA platform owned by Arthur J. Gallagher, distributing E&S and specialty coverages to retail agents across the US. Directly comparable to XPT Specialty's wholesale brokerage and binding authority operations across similar specialty lines.
• CRC Group: CRC Group is a US specialty wholesale brokerage and MGA platform serving retail agents with E&S and specialty products across multiple industries. Highly comparable business model to XPT Specialty, with parallel focus on producer-driven specialty distribution.
• Burns & Wilcox: Burns & Wilcox is a national specialty insurance wholesaler and MGA focused on commercial and personal specialty lines for retail agents. Operates with a similar producer-driven, multi-specialty model to XPT Specialty.
• Brown & Riding Insurance Services: Brown & Riding is a privately held specialty wholesale brokerage and MGA offering E&S placement across property, casualty, and professional lines. Comparable to XPT in scale and specialty focus, with similar acquisition history.
• NSM Insurance Group: NSM Insurance Group is a specialty insurance program manager and MGA focused on niche commercial and personal lines distributed through retail agents. Directly comparable to Platinum Specialty Underwriters' program-driven MGU model.
• All Risks, Ltd. All Risks is a national specialty wholesale broker and MGA offering E&S and admitted solutions across personal and commercial lines. Operates with a similar multi-office, multi-specialty structure to XPT Specialty.

Emerging players

• Keystone Agency Partners: Keystone is a platform company that acquires and partners with specialty independent insurance agencies and wholesalers across the US. Closely parallels XPT's roll-up, partnership-style acquisition strategy in specialty distribution.
• Arcana Insurance Services: Arcana is a specialty wholesale broker and MGA focused on commercial and personal lines E&S placement for retail agents. Comparable in business model but smaller in scale than XPT Specialty.
• Velocity Risk Underwriters: Velocity Risk is a specialty MGU/MGA platform providing binding authority solutions across multiple specialty lines through wholesale distribution. Comparable to Platinum Specialty Underwriters' program business with overlap in property and specialty programs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/xpt-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries15 records

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 xpt