Governor Glenn Youngkin announced that Bermuda-based Hamilton Insurance Group, Ltd. Will invest $415,000 to establish its headquarter in United States. Moreover, the establishment of new U.S. headquarter will create more than 70 new jobs.
Hamilton Insurance Group, Ltd. Is provider of specialty insurance and reinsurance services. The U.S. headquarter will be the wholly owned subsidiary of Hamilton Select Insurance Inc. They will build the new facility in Henrico County. Therefore, the company has leased a 6,500-square-foot office near Nuckols Road. In addition, the company has already moved into the new office. They are also planning to expand their office in coming time. “Henrico County is a great location for specialty insurance companies, and we are excited to welcome Hamilton Select to that hub. 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. operation for years to come.” Governor Glenn Youngkin said in his statement.
70+ new jobs
The new office will also provide plenty of job opportunities in Henrico County. The company is intending to fill more than 60 new positions at the new office facility. “We are thinking that by the end of 2022. We will have about 60 people we have hired and, by the end of next year [2023], 70 or more people,” Clayton Rhoades, CEO of Hamilton Select expressed his views in a statement. Moreover, the company will also offer competitive salary packages to its employees. Specialty insurance and reinsurance firm is planning to pay an average salary of $157,000 a year. Anthony Romanello, executive director of the Henrico Economic Development Authority confirmed.
The Virginia Economic Development
The Virginia Economic Development Partnership worked with the Henrico Economic Development Authority to secure the project for Virginia. Moreover, it will also support Hamilton Select Insurance’s job creation through the Virginia Jobs Investment Program (VJIP). The Virginia Jobs Investment Program provides consultative services and funding to companies for creation of new jobs and coordinate training activities.
Hamilton insurance group was founded in 2013. In addition, it underwrites specialty insurance and reinsurance risks on a global basis through its wholly owned subsidiaries.
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