Connecticut: The Insurance Capital of the World
Connecticut is the #1 location for the insurance industry in North America. Insurance is one of Connecticut’s longest standing industries and largest employers. There is no market in the world that has an insurance industry cluster like Connecticut. We have a workforce with unparalleled depth and expertise in the industry and a business and regulatory environment that caters specifically to this industry.
“Number one was a very pro-business attitude exemplified by those in the state government. Second was easy access to intellectual capital, great people with a strong work ethic. Third was access to transportation. We’re only a hop, skip and a jump to major airports and Manhattan.”
– The Navigators Group CEO, Stan Galanski, on relocating their headquarters from New York to Stamford.
- Hartford is Nicknamed "The Insurance Capital of the World"
- 70,396 Skilled Employees at more than 1,400 Insurance Companies (PwC, 2020)
- #1 Highest Concentration of Actuaries (U.S. Bureau of Labor Statistics, 2021)
- $193 billion in Premiums Written by Connecticut Domestic and Non-Domestic Insurers (CT Insurance Department, 2020)
- $22.3 billion in GSP Generated by Connecticut Insurance Carriers (PwC, 2020)
- #3 in the U.S. for Direct Written Premiums (PwC, 2020)
- #1 in the U.S. for New Captive Insurance Company Formation (Captive Review, 2021)
- #1 Domicile in Net Captive Insurance Percentage Growth (Captive Review, 2021)
Support for Connecticut’s Insurance Industry
Connecticut offers a wide range of technical support and business development services for insurance and financial services companies.
- Hartford InsurTech Hub - Accelerator designed specifically to rapidly scale insurance-focused technology startups
- University of Connecticut Center for Entrepreneurship and Innovation
- Connecticut Insurance Department
- Connecticut Captive Insurance Association
- Connecticut Insurance & Financial Services
- Search loan and grant programs for small businesses through DECD
- Access state, federal, and local funding and technical assistance for minority-owned businesses
- Find programs for business attraction, formation and expansion, including support for licensing and permitting and site location
- Tap into an initiative of 32 companies working to encourage business attraction and retention, workforce recruitment and education, and public awareness of the industry’s critical economic importance
- Get technical assistance and access to capital through revolving loans, incentive-driven loans and matching grants
- Find resources to stimulate high-tech growth in Connecticut
- View loans and technical assistance for small businesses, and grants to community organizations for economic development projects
- Access financial expertise and practical guidance for small business entrepreneurs in Connecticut
- Increase capacity, gain efficiency and get better results in your business