How does one become an insurance carrier?

Come up with tens of millions that you have to set on the sidelines, then more in operating expenses. tons of new startups funded with private equity money are still suffering immensely because of the interest rate marketplace, the regulatory landscape, etc. Even Lemonade, a carrier listed as a model in recent years, is shrinking because they have more cancellations than new business even though it is new. (PS-- you have to have cash on reserve for every state you want to do business & each state has various level of capital needed to even be considered to offer to consumers)

maybe better is to buy insurance carrier stocks so you are diversified across the carrier spectrum & different insurance segments & all target markets.

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I have been pondering and googling this for a day and can't seem to get a handle on how one can become one, the startup costs associated with it, and general information on how to start your own insurance company.

Most of the articles are about how to become a broker or an agent. Hopefully, I can get more information here.

Sorry if this isn't the place for it, if not mods feel free to remove it. I googled "Biggest insurance forum" and this site came up first on the list.

First you buy one of the tallest office building in the city.
 
If you have to ask this question on a forum, you a long way from being ready no matter how much money you have.
I agree. The individuals I'm familiar with who started an insurance company had many years of successful management and/or executive experience at other carriers before trying to start one of their own.
 
Years ago a fellow I worked with set up several captive carriers to reinsure and issue medical stop loss policies. They were all domiciled in AZ . . . low cap requirements and possibly low taxation. All were established with the purpose of sharing some of the risk for his stop loss MGU. He did quite well with the MGU and after he sold it, part of the sale agreement required the new owner to continue the reinsurance contracts with the captives for a number of years.
 
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