Octave Specialty Group (OSG)
Builds specialty insurance businesses through underwriting capacity and niche MGA distribution.
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Combines Everspan specialty P&C insurance with a portfolio of MGA, broker, and underwriting businesses. Revenue comes from insurance distribution and specialty underwriting across niche commercial and personal risks.
Combines Specialty Property & Casualty Insurance through Everspan with Insurance Distribution businesses that include MGAs, MGA-Us, a broker, and related underwriting operations.
Its distribution portfolio serves property, niche specialty risk, accident and health, reinsurance, surety, marine and energy, specialty auto, E&S commercial package, professional lines, and D&O. Operations span the United States, United Kingdom, and Bermuda; Octave Partners acquires niche businesses while Octave Ventures incubates them. The model is asset-light in parts of the value chain and grows through acquired equity interests and new MGA launches.
The platform relies on capacity relationships with Everspan and Lloyd’s syndicates, while portfolio companies retain their own brands.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| Sep 18, 2024 | Roth MKM | Upgrade | Neutral | Buy |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $213.2M · Total debt $155.5M · Total assets $1.64B · Shareholders' equity $698.8M
- Revenue
- $83.0M
- Operating income
- −$11.7M
- Net income
- −$14.4M
No dividends on record.
| Insiders14 holders · as of Jul 13, 2026 | 6.05% | 2.72M shares | |
| Strategic holders1 holder · as of Oct 17, 2025 | 7.85% | 3.54M shares | |
| Otherremainder | 86.10% | 38.79M shares |
45.05M company shares as of Sep 3, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
BlackRock, Inc.Strategic | 7.85% | 3.54M | 13Gfiled Oct 17, 2025 ↗ |
SIG Brokerage, LPInstitution | 5.28% | 2.38M | 13Gfiled Aug 14, 2025 ↗ |
Vanguard Capital ManagementInstitution | 5.04% | 2.27M | 13Gfiled Jul 31, 2026 ↗ |
Claude LeBlancInsiderdirector, officer: Chief Executive Officer | 2.36% | 1.07M | Form 4filed Jul 13, 2026 ↗ |
David TrickInsiderofficer: Exec VP, CFO & Treasurer | 0.59% | 267,096 | Form 4filed Jul 13, 2026 ↗ |
| See all 20 → | |||
13D/13G — an ownership statement filed at 5% or more · Form 4 — an insider's transaction report
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jan 2, 2026 | Claude LeBlanc | director, officer: Chief Executive Officer | +12,000 | $7.59 |
| Nov 12, 2025 | R. Sharon Smith | officer: Exec VP & Group COO | +20 | $10.25 |
| Oct 1, 2025 | Claude LeBlanc | director, officer: Chief Executive Officer | +25,000 | $8.54 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Octave Specialty Group | $4.50 | −0.88% | $202.1M | — | 14.8 | 0.6 | −60.4% |
| Ryan Specialty | $42.34 | −0.05% | $5.48B | 54.4 | 18.6 | 1.7 | +7.2% |
| Skyward Specialty | $56.29 | −1.97% | $2.28B | 13.1 | 10.9 | 1.4 | +130.9% |
| Kinsale Capital Group | $376.78 | −0.05% | $8.58B | 15.3 | 18.0 | 4.3 | −3.7% |
| AXIS Capital | $99.67 | −0.06% | $7.27B | 6.3 | 7.6 | 1.1 | +7.4% |
| Median | 14.2 | 14.4 | 1.5 | +7.3% |