A specialty insurance company plans to establish its headquarters in Henrico County and hire around 70 people over the next three years.
Richmond National Group Inc., a young portfolio company specializing in property and casualty insurance, announced Friday that it plans to invest at least $ 175,000 to establish its head office in Henrico.
The company is expected to create 70 new jobs over the next three years. Virginia competed successfully with Pennsylvania, Maryland and Washington, DC, for the project, Gov. Ralph Northam’s office announced on Friday.
“The Commonwealth is always looking to create an environment that supports startups and businesses of all sizes,” Northam said. “Greater Richmond’s world-class higher education institutions, its talent pool and quality of life have made the region a hotspot for economic activity.
“We welcome Richmond National Group in Virginia and look forward to supporting the future success of the business. “
The Richmond National Group and its affiliates were created to provide insurance to small businesses that have difficulty obtaining insurance in the standard market.
The company will focus exclusively on the growing surplus or surplus market and target a diverse mix of hard-to-place insurance.