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Federated Insurance to acquire trucking insurer HDVI
The deal, effective August 1, 2026, will make HDVI a largely autonomous unit within Federated, while HDVI fronting and MGA growth accelerated from $41.9 million in 2023 to $72.2 million in 2025.
Federated Mutual Insurance Company will acquire trucking insurance carrier HDVI in a deal set to take effect August 1, 2026, according to Coverager. Federated said it is buying the company to expand its commercial property and liability insurance presence.
HDVI, founded in 2018 and headquartered in Chicago, has reported $88.5 million in total funding and will retain separate operations as a largely autonomous subsidiary of Federated. Current HDVI employees will stay on staff, and the company will continue relationships with established agency partners.
Federated said HDVI writes business through Spinnaker, Hippo’s fronting carrier. Premium written on HDVI’s behalf with MGA business grew from $41.9 million in 2023 to $72.2 million in 2025, an annualized rate of about 31%.
Federated described itself as a national insurer with more than 3,000 employees and licensing across 49 states and DC. HDVI’s President and CEO, Adam Barnett, said the acquisition will give the carrier more capacity to bring its telematics-driven, data-based insurance offerings to additional customers.