Bermuda insurer to establish U.S. HQ in Henrico

Bermuda-based Hamilton Insurance Group Ltd. will invest at least $415,000 to establish the U.S. headquarters of its subsidiary in Henrico County, a project estimated to create more than 70 jobs, Gov. Glenn Youngkin announced Friday.

Hamilton’s wholly owned subsidiary, Hamilton Select Insurance Inc., is a commercial insurer that underwrites excess and surplus insurance.

“Henrico County is a great location for specialty insurance companies, and we are excited to welcome Hamilton Select Insurance to that hub,” Youngkin said in a statement. “Greater Richmond offers access to a talent pipeline from the region’s many higher education institutions, and the quality of life attracts and retains a skilled workforce that can serve Hamilton Select’s new U.S. headquarters operation for years to come.”

Founded in 2013, Hamilton underwrites specialty insurance and reinsurance risks through its wholly owned subsidiaries. Hamilton Select targets small-to-midsize accounts in the U.S.

“I’m pleased that we’ve chosen Henrico County as the focal point for establishing Hamilton Select,” said the company’s CEO, Clayton Rhoades, in a statement. “The Richmond region offers a diverse talent pool of experienced insurance professionals, as well as a pipeline of future hires from the world-class colleges and universities across the commonwealth. Virginia provides our employees with an excellent quality of life with access to entertainment and recreation options along with great schools.”

The Virginia Economic Development Partnership worked with the Henrico Economic Development Authority to secure the project. VEDP‘s Virginia Jobs Investment Program will provide services and funding to support employee recruitment and training activities.