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MGT launches AI-native neo-insurer coverage in California via agents
The move expands MGT’s footprint to 43 states plus Washington, DC, after the company’s CM Select acquisition in 2023.
Insurance Business reports that MGT, which it describes as an “AI-native neo-insurer,” has begun offering small commercial property and casualty coverage in California through appointed agents.
The company said it has launched the service from San Francisco and noted that its main carrier, MGT Insurance Company, is based in Greenwood Village, Colorado, while the overall footprint now reaches 43 states plus Washington, DC.
Insurance Business adds that the neo-insurer model is tied to MGT holding its own insurance paper rather than operating only as a managing general agent, and it links the structure to MGT’s 2023 purchase of CM Select Insurance Company from Church Mutual Holding Company.
AM Best’s latest public rating action on the group, in March 2025, assigned an A- (Excellent) financial strength rating to MGT Specialty Insurance Company and affirmed the same rating for MGT Insurance Company, both with a stable outlook, while the rating release described the group as writing only a modest amount of premium with plans to expand across several states in the near term.