Insurance company plans headquarters in Henrico with 70 jobs | Economic news

A Bermuda-based insurance company plans to open a US headquarters in Henrico County that is expected to employ more than 70 people.

Hamilton Insurance Group Ltd. said Friday it plans to invest at least $415,000 to open the U.S. headquarters of its wholly-owned subsidiary Hamilton Select Insurance Inc. in the Innsbrook Corporate Center in western Henrico County.

The company, which provides specialty insurance and reinsurance services, expects to pay salaries of about $157,000 a year, said Anthony Romanello, executive director of the Henrico County Economic Development Authority.

“It’s great to get more high-paying jobs in the county, especially as Innsbrook continues to revitalize and reposition itself,” Romanello said.

“As far as we can tell – and we’ve gone through our records – these are the highest average salaries of any ad we’ve had,” Romanello said.

The company rents an office at 4701 Cox Road, near its intersection with Nuckols Road.

The company, founded in 2013, underwrites specialty insurance and reinsurance risks globally through its wholly owned subsidiaries. Its insurance lines in the United States include professional and management liability, environmental insurance, and a type of insurance called excess and surplus, which typically covers businesses that have difficulty obtaining standard policies.

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