State National Companies
State National Companies, Inc. is a specialty property and casualty insurer in the United States, with two main divisions: Program Services and Lender Services. It is licensed to do business in all 50 states and Washington, D.C., and operates from Bedford, Texas, with about 400 employees. It is part of the Markel Group.
What they do
- Program Services: Gives access to U.S. property and casualty markets through admitted carriers and excess-and-surplus carriers, working with specialty general agents and other producers to place various lines of coverage.
- Lender Services: Provides portfolio protection insurance (Collateral Protection Insurance, CPI) for loans, mainly to banks, credit unions, and other lenders, covering vehicles used as loan collateral.
Key features
- Reinsures most underwriting and operating risks.
- Uses InsurTrak, a proprietary platform, to manage CPI programs.
- Exclusive CPI relationship with CUNA Mutual for the credit union market (started in 2009; renewed through 2018).
History at a glance
- 1973: Founded by Garry, Terry, and Lonnie Ledbetter as a Texas CPI general agency.
- Late 1970s: Expanded CPI beyond Texas.
- 1984: Created State National Insurance Company (SNIC) to underwrite CPI.
- 1993: SNIC earned A.M. Best rating of A (Excellent), maintained since.
- 1999: Acquired NSIC, expanding licenses to all 50 states and D.C.
- 2006: Formed United Specialty Insurance Company (USIC) for excess and surplus lines.
- 2014: SNC began trading on NASDAQ as SNC.
- 2017: Markel announced it would acquire State National for $919 million (closing planned for Q4 2017).
Quick facts
- Headquarters: 1900 L. Don Dodson Drive, Bedford, Texas
- Employees: about 400
- Parent: Markel Group
- Market listing (2014–2017): SNC on NASDAQ
- Rating: A.M. Best A (Excellent)
- Licensing: 50 states plus D.C. across admitted and E&S carriers
- Platform: InsurTrak for CPI program management
- Notable partnership: CUNA Mutual CPI alliance in the credit union market
This page was last edited on 3 February 2026, at 07:03 (CET).