Skip to the list

Specialty insurance

The 29 companies in this industry listed on the NYSE and Nasdaq are worth $179 bn combined; the largest are American International Group (AIG), W. R. Berkley (WRB) and Markel Group (MKL). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Evenly matched
29 companies value 179 bn revenue 109 bn margin — free cash flow — avg. score 5.6
AIG holds 23.6% of the group's value, 1.5x the runner-up · WRB leads the industry without being the largest
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 AIG American International Group
United States · score 6.4
24% 42 bn 27 bn 11.6% 3.9 bn 9.1% 2.4% Global property and casualty insurance · Global commercial insurer, restructured and leaner
2 WRB W. R. Berkley
United States · score 6.7
15% 28 bn 15 bn 12.9% 3.6 bn 13.1% 1.7% Specialty insurance and reinsurance · Best underwriting record in US specialty insurance
3 MKL Markel Group
United States · score 6.4
13% 23 bn 16 bn 14.7% 2.1 bn 9.2% 0.1% Holding company for specialty insurance and diverse businesses · 'Mini-Berkshire' model: specialty insurance + a portfolio of stocks and businesses
4 AIZ Assurant
United States · score 6.6
8% 14 bn 13 bn 7.9% 1.7 bn 12.0% 1.3% Protection insurance for devices, vehicles and homes · Insurance embedded in phones, rentals and financed products
5 ACT Enact Holdings, Inc.
United States · score 7.0
4% 6.3 bn 1.3 bn 53.8% 0.7 bn 11.4% 2.0% Private mortgage insurance in the US market · North Carolina — assets of $7bn
6 ESNT Essent Group Ltd.
Bermuda · score 7.1
3% 5.8 bn 1.3 bn 51.5% 0.8 bn 14.1% 2.1% Private mortgage insurance in the US · Bermuda — assets of $7.6bn
7 MTG MGIC INVESTMENT CORP
United States · score 7.2
3% 5.7 bn 1.2 bn 59.2% 0.7 bn 12.4% 2.4% Private mortgage insurance · Wisconsin — assets of $6.5bn
8 RLI RLI Corp.
United States · score 7.2
3% 5.6 bn 2.0 bn 22.2% 0.5 bn 9.2% 7.6% Specialty and liability insurance · Niche specialist; 45+ years of rising dividends
9 FTDR Frontdoor, Inc.
United States · score 5.8
3% 5.5 bn 2.1 bn 12.8% 0.4 bn 7.0% — Largest US provider of home warranties · Tennessee — assets of $2.2bn
10 HGTY Hagerty, Inc.
United States · score 5.4
3% 5.3 bn 1.4 bn 10.5% 0.3 bn 5.2% — Insurance for collector cars and enthusiast vehicles · Michigan — assets of $2.1bn
11 WTM WHITE MOUNTAINS INSURANCE GROUP LTD
United States · score 6.8
3% 5.2 bn 3.8 bn 29.3% 0.4 bn 7.5% 0.1% Bermuda insurance holding company · New Hampshire — assets of $13.8bn
12 RDN RADIAN GROUP INC
United States · score 7.2
3% 4.5 bn 1.6 bn 32.6% 1.4 bn 30.8% 3.1% Mortgage insurance and services for the housing market · Pennsylvania — assets of $10.7bn
13 HG Hamilton Insurance Group, Ltd.
Bermuda · score 7.0
2% 3.6 bn 3.0 bn 28.8% 0.8 bn 22.5% — Global insurance and reinsurance, with operations in London, Dublin and Bermuda · Bermuda — assets of $10.3bn
14 PLMR Palomar Holdings, Inc.
United States · score 6.1
2% 3.6 bn 1.1 bn 18.6% 0.4 bn 11.4% — Earthquake, liability, crop and transportation insurance · California — assets of $4bn
15 GNW Genworth Financial
United States · score 5.9
2% 3.4 bn 7.4 bn 2.9% 0.4 bn 12.7% 0.7% Long-term care insurance and mortgage insurance · Mortgage insurance and long-term care insurance
16 AGO ASSURED GUARANTY LTD
Bermuda · score 6.7
2% 3.1 bn 0.9 bn 37.3% 0.3 bn 10.6% 2.2% Financial guaranty insurance for public and structured finance, from Bermuda · Bermuda — assets of $12.6bn
17 NMIH NMI Holdings, Inc.
United States · score 6.7
2% 3.1 bn 0.7 bn 54.1% 0.4 bn 14.3% — Mortgage insurance · California — assets of $4bn
18 SPNT SiriusPoint Ltd
Bermuda · score 6.6
2% 2.9 bn 3.3 bn 15.6% 0.3 bn 9.1% — Global specialty insurance and reinsurance underwriting · Bermuda — assets of $12.7bn
19 SKWD Skyward Specialty Insurance Group, Inc.
United States · score 6.1
2% 2.7 bn 1.7 bn 10.8% 0.4 bn 14.9% — Specialty commercial insurance, admitted and non-admitted · Texas — assets of $6.8bn
20 ASIC Ategrity Specialty Insurance Co Holdings
United States · score 5.7
1% 1.3 bn 0.5 bn 20.7% 0.2 bn 13.4% — Excess and surplus insurance for small and midsize businesses · New York — assets of $1.7bn
21 TRUP TRUPANION, INC.
United States · score 4.3
1% 1.2 bn 1.5 bn 1.3% 0.1 bn 6.8% — Health insurance for dogs and cats · Washington — assets of $931m
22 BOW Bowhead Specialty Holdings Inc.
United States · score 5.9
1% 1.1 bn 0.6 bn 10.1% 0.3 bn 29.3% — Property and casualty insurance for businesses · New York — assets of $2.7bn
23 IGIC International General Insurance Holdings Ltd.
Jordan · score 7.3
1% 1.1 bn 0.5 bn 20.6% 0.1 bn 12.8% 5.6% Specialty insurance and reinsurance, from Dubai, since 2001 · Jordan — assets of $2.2bn
24 AMSF AMERISAFE INC
United States · score 6.2
0% 0.5 bn 0.3 bn 14.0% 0.0 bn 4.1% 10.4% Workers' compensation insurance for high-risk industries · Louisiana — assets of $1.1bn
25 GBLI Global Indemnity Group, LLC
United States · score 4.8
0% 0.4 bn 0.5 bn 7.5% -0.0 bn -9.5% 5.6% Specialty property and casualty insurance (E&S and admitted) in the US · Pennsylvania — assets of $1.7bn
26 JRVR James River Group Holdings, Inc.
United States · score 3.2
0% 0.2 bn 0.7 bn 4.7% 0.0 bn -1.3% 1.1% Liability insurance for small and midsize businesses · North Carolina — assets of $4.8bn
27 OSG OCTAVE SPECIALTY GROUP INC
United States · score 0.0
0% 0.2 bn 0.3 bn -48.8% -0.1 bn -29.9% — Specialty P&C insurance distribution (MGAs, broker) and underwriting, after exiting financial guarantee · New York — assets of $2.3bn
28 MBI MBIA INC
United States · score 1.0
0% 0.2 bn 0.1 bn -164.9% 0.0 bn 19.4% — Municipal bond insurance, in run-off · New York — assets of $2bn
29 KG Kestrel Group Ltd
Bermuda · score 0.0
0% 0.0 bn 0.0 bn -86.0% -0.1 bn -335.3% — Specialty insurance and a legacy reinsurance book, formed in 2025 · Bermuda — assets of $920m

Other industries in the same sector

and 31 industries more
What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

Have a question or a suggestion, or found a mistake?

Write here: a question about the score, a missing company or industry, a number that looks wrong. Every message is read, and the email is so I can reply.