Richmond National to expand operations, create 75 jobs in Henrico

Insurance company Richmond National Group plans to invest $1.75 million to expand operations and create 75 jobs at the firm’s Glen Allen headquarters, Gov. Abigail Spanberger announced Wednesday.

Richmond National, founded in 2020, provides property and casualty insurance for small and midsize businesses that struggle to obtain coverage through the standard insurance market.

“Richmond National Group’s latest expansion in Henrico County highlights the strength of Central Virginia’s financial services and insurance talent,” Spanberger said in a statement. “The commonwealth’s vast network of talent helped bring Richmond National here, and it continues to enable this exciting expansion six years later. We are proud to see Richmond National continue to build its future here in Virginia.”

According to the company’s website, Richmond National operates in the excess and surplus lines market, allowing it to offer more customized policies than traditional insurers.

A timeline of the expansion was not provided, and Richmond National did not immediately return requests for comment.

“Five years ago, we started our specialty insurance company in the Richmond area primarily due to its deep talent pool of insurance and financial services professionals and its favorable business environment,” President and CEO Joseph C. Kavanagh said in a statement. “These factors have contributed to our early success as a younger company, and we continue to see significant hiring opportunities in the region.”

The Virginia Economic Development Partnership worked with Henrico County to secure the project for Virginia.