Specialty insurerto locate in Henrico with plans to hire 70 over three years Specialty insurance company to set up headquarters in Henrico with plans to hire 70 people,

A specialty insurance company is planning to set up its headquarters in Henrico County and hire about 70 people over the next three years.

Richmond National Group Inc., a start-up specialty property and casualty insurance holding company, announced Friday that it plans to invest at least $175,000 to establish its headquarters in Henrico.

The company is expected to create 70 new jobs over the next three years. Virginia successfully competed with Pennsylvania, Maryland and Washington, D.C., 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, talent pipeline, and quality of life have made the region a hotspot for economic activity.

"We welcome Richmond National Group to Virginia and look forward to supporting the firm's future success."

Richmond National Group and its affiliates were established to provide insurance to small businesses that have difficulty obtaining insurance in the standard market.

The company will focus exclusively on the growing excess or surplus market and target a diverse mix of hard-to-place insurance.

The affiliates of Richmond National Group will distribute their services through wholesale insurance brokers located across the country.

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