Richmond National Group expanding at Henrico County HQ, doubling workforce

Richmond National Group will invest $350,000 to expand its headquarters in Henrico County as the company is planning to add 100 new jobs, more than doubling its workforce.

The move comes after Richmond National Group raised more than $30 million in March in common equity capital from existing shareholders, including HF Capital, Bonhill Capital, WT Holdings, and employees, to support continued growth in the business.

This brings the total equity capital raised for the company, a specialty excess and surplus lines insurance company serving select wholesale brokers across the country founded in 2021, to more than $100 million.

“We chose to start our specialty insurance company in the Richmond, Va., 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.