Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News Industries Economic Development Insurance startup to create 70 jobs with Henrico HQ

Insurance startup to create 70 jobs with Henrico HQ

Richmond National Group Inc. will spend $175,000 to establish its headquarters

Published October 15, 2021 by Katherine Schulte

Startup specialty property and casualty insurance holding company Richmond National Insurance Co. (RNIC) will create about 70 jobs over the next three years as it establishes its headquarters in Henrico County, Gov. Ralph Northam announced Friday.

“The commonwealth is always looking to create an environment that supports startups and businesses of all sizes,” Northam said in a statement. “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.”

Holding company Richmond National Group Inc. announced Friday the formation of RNIC. Richmond National is supported by more than $70 million in equity capital from a group of investors including Knoxville, Tennessee-based single-family investment office HF Capital, Charlotte, North Carolina-based investment firm Bonhill Capital, Memphis, Tennessee-based WT Holdings Inc. and the senior management team. The company will spend $175,000 to establish its headquarters.

RNIC provides insurance to small and mid-size businesses and will focus on the excess and surplus line market and target hard-to-place risks. Its affiliates will distribute services through wholesale insurance brokers across the U.S. RNIC underwrites risks in the general casualty, contractors casualty, excess casualty, commercial property, inland marine, professional liability and small business package businesses.

“We chose to start our specialty insurance company in the Richmond area primarily due to its deep talent pool of insurance and financial services professionals and its favorable business environment,” Richmond National Group President and CEO Joseph C. Kavanagh said in a statement.

The Virginia Economic Development Partnership (VEDP) worked with the Henrico Economic Development Authority and the Greater Richmond Partnership to secure the project, for which Virginia competed with Pennsylvania, Maryland and Washington, D.C. The VEDP’s Virginia Jobs Investment program will provide funding to support employee recruitment and training activities.

Subscribe to Virginia Business. Get our daily e-newsletter.

Related Stories

Virginia Business logo

SimpliSafe bringing second facility to Henrico

250 jobs expected, raising company's Henrico jobs total to 800+

Richmond snack company investing $16.5M in Henrico facility

Red River Foods will create 60 jobs with warehouse, processing facility

Virginia Business logo

Sugar alternative company to create 64 jobs in Albemarle County

Bonumose Inc. will spend $27.7M, move into former State Farm building

Trending

13th annual Best Places to Work

Report: Air taxis could land Va. $16B in new biz by 2045

Morrissey’s Petersburg casino bill fails in Senate Finance

Magical moments

Cox expands Myers’ role to East Coast

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

13th annual Best Places to Work

Report: Air taxis could land Va. $16B in new biz by 2045

Morrissey’s Petersburg casino bill fails in Senate Finance

Magical moments

Cox expands Myers’ role to East Coast

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk