Insurance Distribution was Octave Specialty’s largest segment in fiscal 2025, bringing in $163.73M of $251.22M (65%).
| Segment | FY 2011 | FY 2012 | FY 2014 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Financial Guarantee | — | — | — | — | ||||
| National Public Finance Guarantee Corporation | — | — | — | — | ||||
| Legacy Financial Guarantee | — | — | — | — | ||||
| Insurance Distribution | $31.41M | $51.55M | $99.24M | $163.73M | ||||
| Specialty Property & Casualty Program | $18.47M | $64.10M | $126.32M | $88.40M | ||||
| Corporate | — | $9.08M | $10.26M | -$907.00K | ||||
| Corporate & Other | — | — | — | — | ||||
| Corporation | $3.74M | — | — | — | ||||
| Intersegment Elimination | — | — | — | — | ||||
| Financial Services | — | — | — | — | ||||
| Total | $53.61M | $124.73M | $235.82M | $251.22M |
Octave Specialty brought in $251.22M from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 6.5% from $235.82M in fiscal 2024. Insurance Distribution was the largest at $163.73M (65.2%), ahead of Specialty Property & Casualty Program at $88.40M (35.2%).
Compared with fiscal 2024, Insurance Distribution grew 65.0% to $163.73M, while Specialty Property & Casualty Program fell 30.0% to $88.40M.
Octave Specialty began breaking out Corporate in fiscal 2023, when it brought in $9.08M. Octave Specialty stopped reporting Corporation as a separate segment after fiscal 2022, when it brought in $3.74M. The total is net of Corporate, which took $907.00K off revenue in fiscal 2025.
United States was Octave Specialty’s largest region in fiscal 2025, bringing in $172.32M of $251.22M (69%).
| Geography | FY 2011 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| United States | $53.61M | $124.73M | $212.61M | $172.32M | |
| United Kingdom | — | — | $23.21M | $78.90M | |
| Other International | — | — | — | — | |
| Total | $53.61M | $124.73M | $235.82M | $251.22M |
Octave Specialty brought in $251.22M from its two regions in fiscal 2025, the year ended December 31, 2025. That was up 6.5% from $235.82M in fiscal 2024. United States was the largest at $172.32M (68.6%), ahead of United Kingdom at $78.90M (31.4%).
Compared with fiscal 2024, United Kingdom grew 239.9% to $78.90M, while United States fell 18.9% to $172.32M.
Unaffiliated Customers was Octave Specialty’s largest revenue line in fiscal 2014, bringing in $506.56M of $507.80M (100%).
| Customer | FY 2012 | FY 2014 |
|---|---|---|
| Unaffiliated Customers | $685.69M | $506.56M |
| Intersegment | $842.00K | $1.24M |
| Total | $686.53M | $507.80M |
Octave Specialty brought in $507.80M from its two revenue lines in fiscal 2014, the year ended December 31, 2014. That was down 26.0% from $686.53M in fiscal 2012, the previous year with figures. Unaffiliated Customers was the largest at $506.56M (99.8%), ahead of Intersegment at $1.24M (0.2%).
From fiscal 2012 to 2014, combined revenue from these revenue lines fell from $686.53M to $507.80M, a compound annual decline of 14.0%. Unaffiliated Customers' share held steady at about 99.8%.
Octave Specialty (OSG) reports its revenue by segment, by geography and by customer. In fiscal 2025, Insurance Distribution was its largest segment, bringing in $163.73M (65.2% of the total), followed by Specialty Property & Casualty Program at $88.40M (35.2%).
Insurance Distribution was Octave Specialty's largest segment in fiscal 2025, bringing in $163.73M, or 65.2% of the $251.22M total across its three segments.
United States was Octave Specialty's largest region in fiscal 2025, bringing in $172.32M, or 68.6% of the $251.22M total across its two regions.
Unaffiliated Customers was Octave Specialty's largest revenue line in fiscal 2014, bringing in $506.56M, or 99.8% of the $507.80M total across its two revenue lines.
Insurance Distribution grew faster than Specialty Property & Casualty Program in fiscal 2025, up 65.0% from $99.24M to $163.73M. Specialty Property & Casualty Program fell 30.0% to $88.40M.
Every figure comes from Octave Specialty's annual financial filings, as reported. Each line keeps the name Octave Specialty gives it, and years follow its fiscal calendar.
Octave Specialty's revenue by segment goes back to fiscal 2011, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.