Bermuda-based insurance group establishing U.S. headquarters in Henrico County

A Bermuda-based insurance group is establishing its U.S. headquarters in Henrico County.

Hamilton Insurance Group, Ltd., a provider of specialty insurance and reinsurance services, will invest at least $415,000 to establish the U.S. headquarters of its wholly owned subsidiary Hamilton Select Insurance Inc. Hamilton Select is a commercial insurer that underwrites excess and surplus insurance. The project will create more than 70 new jobs.

“I’m pleased that we’ve chosen Henrico County as the focal point for establishing Hamilton Select,” said Clayton Rhoades, chief executive officer of Hamilton Select. “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. We are excited to build a best-in-class specialty insurer and to call Henrico County our home.”

Founded in 2013, Hamilton underwrites specialty insurance and reinsurance risks on a global basis through its wholly owned subsidiaries. Hamilton Select offers specialty insurance products with solutions-oriented underwriting and data-driven analytics, targeting small-to-mid-sized hard-to-place and distressed accounts in the U.S. E&S space.

In addition to the Richmond region, Hamilton also has teams in Miami and New York. It underwrites on behalf of Syndicate 4000 and other Lloyd’s syndicates, Hamilton Insurance DAC, and Hamilton Re, Ltd.

“Virginia provides a talent pool of professionals serving the financial services industry as well as a favorable business climate for companies of all sizes, and we thank Hamilton for choosing Henrico County as the U.S. headquarters of its subsidiary operation,” said Secretary of Commerce and Trade Caren Merrick. “International businesses continue to recognize the benefits of a Virginia location, and we look forward to supporting Hamilton Select’s future success in the Commonwealth.”

The Virginia Economic Development Partnership worked with the Henrico Economic Development Authority to secure the project for Virginia and will support Hamilton Select Insurance’s job creation through the state-funded Virginia Jobs Investment Program, which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities.

“We are thrilled to welcome Hamilton Select to Innsbrook,” said Brookland District Supervisor Dan Schmitt. “Hamilton’s decision to choose Henrico for Hamilton Select’s U.S. headquarters and create over 70 new full-time jobs speaks to its confidence in Henrico’s business climate and our regional workforce. Henrico will be an active partner with Hamilton Select to ensure their immediate and continued success.”