# State National Companies

State National Companies is an Insurance based in Bedford, United States.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Bedford, United States
- **Region:** North America
- **Address:** 1900 L. Don Dodson Drive, Bedford, TX 76021, United States
- **Founded:** 1973
- **Assets under management:** Undisclosed
- **Website:** statenational.com
- **LinkedIn:** https://www.linkedin.com/company/state-national-companies

## Regulatory record

- **Reports private funds:** No

## About

We make insurance simple so you can accelerate your business. As the industry leader in both fronting solutions and portfolio protection, we provide insurance products and services in all 50 states.

## Sectors

- Insurance
- FinTech
- Real Estate

## People

- Lonnie Ledbetter — Co-founder
- Terry Ledbetter — Co-founder
- Garry Ledbetter — Co-founder
- Terry Muhia — Executive Vice President of Service, Lender Services

## Questions

### How does State National source proprietary deal flow?

State National does not source external investments; it originates insurance policies directly. Its Lender Services segment builds relationships with credit unions, banks, and finance companies through direct sales and industry conferences. Its Program Services segment attracts MGAs, brokers, and insurers seeking fronting capacity, leveraging its AM Best rating and nationwide licenses.

### Does State National participate in fund commitments or only direct deals?

State National is an insurance carrier, not an investment manager. It does not make fund commitments or direct equity investments in external companies. Its business model is underwriting insurance policies — collateral protection and fronting — not deploying capital for financial returns.

### What investment stages does State National typically target?

State National does not target investment stages. It is an insurance operating company. Its focus is on writing insurance policies and providing fronting capacity.

### Which sectors does State National explicitly avoid?

State National does not publicly disclose explicit sector avoidance lists. Its business operations are exclusively in property and casualty insurance, specifically collateral protection for auto and mortgage loans and fronting for other insurers. It does not operate in life, health, or other non-P&C lines.

### How is State National related to Markel?

State National Companies operates as a division of Markel Group Inc., a Fortune 500 holding company with insurance, reinsurance, and investment operations worldwide. State National functions as an independent brand within Markel, maintaining its own management, branding, and operational focus on specialty P&C insurance.

## Related profiles

- [AMC Entertainment Holdings](https://altss.com/profile/amc-entertainment-holdings)
- [Cyber Communications Inc.](https://altss.com/profile/cyber-communications-inc)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/state-national-companies

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology