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.
- #1 in the U.S. for insurance employment as a percentage of employment (MetroHartford Alliance)
- #1 insurance payroll as a percentage of payroll (PwC & CT Insurance and Financial Services)
- 70,396 skilled employees
- #2 highest concentration of actuaries in the U.S. (CT Insurance and Financial Services)
- $193 billion in premiums written by Connecticut domestic and non-domestic insurers
- $22.3 billion in gross state product
- #3 Managerial, Professional and Technical Jobs (Information Technology & Innovation Foundation)
- #1 Digital Economy (Information Technology & Innovation Foundation)
- #4 High wage traded services (higher than service industry jobs) (Information Technology & Innovation Foundation)
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.