Connecticut: The Insurance Capital of the World

Connecticut is the #1 location for the insurance industry in North America, with Hartford holding the title of Insurance Capital of the World. 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.

Nearly 60,200 skilled insurance employees¹, unparalleled in their field, work at the more than 2,860 insurance establishments²that have made Connecticut their home. The insurance industry has a massive economic impact on the state, which is why Connecticut has ensured that insurers have the regulations and resources they need to continue to grow and thrive. Connecticut-based carriers generate more than $21.2 billion in GSP each year³ with over $123 billion in direct written premiums⁴ written annually, including the #1 most direct written health insurance premiums in the country⁵.

“Working with the [UK-Connecticut Insurtech] corridor has opened the door to a number of large carriers we may never have spoken to otherwise. We have also been boosted by introductions to financial and legal support that has expedited, simplified and de-risked our route to establishing a presence in Hartford.”

— Phil Powell, CRO of Matrix IQ

Connecticut’s insurance clusters extends beyond Hartford, with the Stamford and New Haven areas growing rapidly as hotbeds for insurtech companies in particular. In fact, Stamford and Hartford rank as the 1^st and 2^nd most productive metropolitan areas in the country for insurance workers⁶ while remaining significantly lower cost than other major metropolitan centers. From Fortune 100 companies to insurtech startups that are revolutionizing the industry, Connecticut offers the skilled workforce and industry ecosystem that is essential for these companies to grow and thrive.

Notable Insurance Employers

Business Formation Verification

Sole proprietorships and general partnerships require a tradename certificate with the Town Clerk in the town in which the business is based. Currently there is no centralized look-up and requires you to contact the town directly.

Corporations, LLCs, LLPs and LPs file with the Connecticut Secretary of the State. Search Connecticut Business Registration Data.

Professional or Trade License Verification

The Connecticut eLicense web portal provides real-time access to over 600 credential types issued and regulated by the following State agencies. These credential types include licenses, registrations, permits, or certifications for individuals, organizations and facilities.

To view a list of the licenses administered by the agencies click on the agency link provided below.
* Consumer Protection
* Public Health
* Agriculture
* Connecticut Agricultural Experiment Station
* Office of Early Childhood & Youth Camp
* Developmental Services
* State Fire Marshal
* Revenue Services

Additional agencies offer their own verification systems. Use the links below:
* Insurance
* Banking

The following details provide guidance for an existing business wishing to make changes to their existing business filings. If changing the business structure, it is recommended that legal counsel be sought.

If you are forming a subsidiary, please review the separate item addressing that topic.

Secretary of the State
(860) 509-6002 or crd@ct.gov
Agency website: https://portal.ct.gov/sots
- Forms to complete the following tasks are available on the agency website at the following link: form or online
  - Change of business address
  - Change of agent and agent address
  - Add or remove manager, member, partner, officer - Interim Notice of Change
  - Change of name or any other particular of your filings - Amendments (this can not be filed online)
    - LLC - domestic (formed in CT) or foreign (formed outside of Connecticut)
    - Corporation- domestic or foreign stock or nonstock
    - LLP - domestic or foreign
  - Changing the structure requires the business to dissolve the existing business and then create a new structure.
Connecticut Department of Revenue Services
800-382-9463(instate only), (860) 297-5962 or drs@po.state.ct.us
Agency website: https://portal.ct.gov/drs
- Change of address
- Change of business name or DBA
- Change business structure
- Updating members, officers, partners
- Add new business location
- Add new tax type to existing registration - refile form REG-1 or complete online application
Connecticut Department of Labor
860-263-6550
Agency website: www.ctdol.state.ct.us
- Compose a letter stating the reason for the change and include previous registration information. Fax to 860-263-6567 or mail to Attention: Employer Status, Connecticut Department of Labor, 200 Folly Brook Boulevard, Wethersfield, CT 06109.
  
  If changing business structure and/or Federal Employer Identification Number with the IRS, re-file form UC-1A. Compose a letter stating the change and reason.
Internal Revenue Services (IRS)800-829-4933
Agency website: www.irs.gov
- Change business name
- Change business address (see below)
- Change business structure
  
  Compose a letter stating the change including the current Federal Employer Identification Number (FEIN) and apply for a new EIN. If changing the business structure, the business must dissolve. Mail the letter to Internal Revenue Service, EIN Operation, Holtsville NY 00501 or fax to 631-447-8960.
Additional Agencies
Each agency handles changes differently. For more information contact the individual agencies directly.

Insurance Employers

Aetna

Aetna, a subsidiary of CVS Health is a leading healthcare insurance provider offering a wide range of health benefits, including medical, dental, and pharmacy plans. Headquartered in Hartford, CT since its founding more than 170 years ago, Aetna has remained a major player in Connecticut’s healthcare industry, serving millions of individuals, employers, and government programs nationwide. The company plays a crucial role in the state's economy, providing significant employment opportunities and contributing to Hartford's status as a healthcare and insurance hub. Aetna focuses on improving health outcomes, expanding access to care, and driving innovations in healthcare delivery, aligning with Connecticut's growing healthcare services sector.

Travelers

Travelers is one of the largest commercial and personal property casualty insurers in the U.S., offering a wide array of insurance products, including auto, home, business, and liability coverage. Initially founded in Connecticut more than 160 years ago, Hartford, CT is currently home to the company’s largest office in the world. Travelers has been a cornerstone of the state’s insurance industry since its creation and plays a vital role in the local economy, providing thousands of jobs to downtown Hartford and contributing to the city and state’s status as a hub for the global insurance market.

The Hartford

The Hartford, headquartered in Hartford, Connecticut, is a leading global insurance company known for offering a wide range of property and casualty insurance products for individuals, businesses, and government entities, including auto, home, and workers' compensation insurance. The Fortune 500 company has been a key player in the state’s insurance industry and its namesake city since its founding more than 200 years ago. As one of Connecticut’s top 10 largest employers, The Hartford significantly contributes to the local economy while playing a vital role in the region's financial services and insurance sectors.

Cigna

Fortune 100 company, Cigna Group, headquartered in Bloomfield, CT, is a global health services company offering a broad range of insurance products, including health, dental, and disability coverage. With a strong presence in Connecticut, Cigna plays a significant role in the state’s economy, providing jobs and contributing to the local healthcare ecosystem. The company serves individuals, employers, and government programs, both domestically and internationally. Cigna’s Connecticut operations are central to its strategic focus on improving health outcomes, expanding access to care, and driving innovation in healthcare services, aligning with the state’s reputation as a hub for healthcare and insurance companies.

Key Facts

highest concentration of insurance jobs in the U.S.⁷

in the U.S. for direct written premiums⁹

highest concentration of actuaries in the country⁸

domicile in number of captives growth for 4 straight years¹⁰

Industry Subsectors

Support for Connecticut’s Insurance Industry

Connecticut offers a wide range of technical support and business development services for insurance and financial services companies.

Insurance

Industry Resources

Connecticut Insurance + Financial Services (CT IFS) — a statewide initiative of the MetroHartford Alliance comprised of 32 member companies in Connecticut’s insurance and financial services sector, the mission of CT IFS is to strengthen and advance the insurance and financial services industry in Connecticut
Insurtech Hartford — major driver of industry innovation and a thriving insurtech ecosystem through community activation
Connecticut Center for Entrepreneurship and Innovation Insurtech Initiative — joint venture between UConn and the University of Hartford designed to grow the next generation of entrepreneurs and innovators in the insurance industry and the insurtech space through opportunities to assist both startups and established companies test and implement new technologies that will fuel growth through innovation
Connecticut Captive Insurance Association — promotes the interests of the captive industry in Connecticut by establishing policy positions on major issues that affect the captive insurance industry and CTCIA members, advocating for the interests of the captive insurance industry on the federal, state, and local level, and facilitating the differentiation and growth of captive insurance programs
Connecticut Insurance Department — offers guidance, support, and education and regulate the industry in a way that promotes fair competition and makes sure insurance is available to everyone
Connecticut Innovations (CI) — Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for innovative, growing companies
CONNSTEP — a business consulting firm focused on identifying opportunities for growth, improving productivity, and ensuring competitiveness

Optimize Site & Operations

Reduce Taxes

Corporate Business Tax Credit
Insurance Reinvestment Fund
Human Capital Tax Credit
Learn about more State incentives and programs

Insurance Sector Snapshot

◄ Get an in-depth look at Connecticut’s insurance industry cluster.

industry trends and dynamics
concentrations of talent and workforce pipelines in Connecticut
Connecticut's regulatory environment
logistical and infrastructure considerations
the state’s strengths for companies in the state
data and resources for companies seeking market entry into Connecticut

Learn more about Connecticut's key industries in our detailed snapshots.

¹Lightcast, 2023; ²Lightcast, 2023; ³GDP for 2023; Lightcast, 2023; ⁴PwC, 2022; ⁵PwC, 2022; ⁶GRP per worker, Lightcast, 2022; ⁷Lightcast, 2023; ⁸U.S. Bureau of Labor Statistics, OEWS, 2023, AdvanceCT calculations; ⁹PwC, Connecticut Insurance Department, 2022; ¹⁰Captive Review, 2024