RICHMOND, Va. — Richmond National Group, a specialty insurance provider focused on property and casualty coverage for small and mid-sized businesses, has announced plans to invest $1.75 million to expand its operations in Glen Allen, Virginia. The project will create 75 new jobs as the company continues to grow its presence in the greater Richmond region.
Founded in 2020, Richmond National Group provides insurance solutions for businesses that face challenges securing coverage in the traditional insurance market. The company’s continued growth highlights the strength of Virginia’s financial services and insurance workforce.
“Richmond National Group’s latest expansion in Henrico County highlights the strength of Central Virginia’s financial services and insurance talent,” said Governor Abigail Spanberger. “The Commonwealth’s deep talent pool helped attract Richmond National to the region, and it continues to support the company’s growth six years later.”
Expanding a Specialty Insurance Hub in Central Virginia
State leaders say the expansion reinforces the Richmond region’s reputation as a center for insurance, financial services, and professional business operations.
“Virginia’s strong network of insurance and financial services professionals makes the Commonwealth a natural home for companies like Richmond National Group,” said Secretary of Commerce and Trade Carrie Chenery. “This expansion in Henrico County will create new career opportunities while strengthening the region’s position as a hub for specialty insurance providers.”
Company leadership credited the region’s business climate and workforce for supporting the company’s rapid growth since its founding.
“Five years ago, we chose the Richmond region to launch our specialty insurance company because of its deep talent pool and favorable business environment,” said Joseph C. Kavanagh, President and CEO of Richmond National Group. “These advantages have contributed to our early success, and we continue to see strong hiring opportunities as we grow.”
Local Leaders Welcome Continued Growth
Local officials say the company’s expansion reflects both the strength of the regional workforce and the supportive business environment in Henrico County.
“Richmond National’s significant growth since its formation in 2020 reflects the dedication of their team and the talent available in the Greater Richmond region,” said Misty D. Roundtree, Vice Chair of the Henrico County Board of Supervisors. “We are thrilled they have chosen to expand their headquarters here once again, creating new jobs and strengthening our local economy.”
State legislators also highlighted the company’s role in supporting small businesses through specialized insurance services.
- “Richmond National is filling an important niche that supports smaller businesses,” said State Senator Schuyler VanValkenburg. “This expansion demonstrates that Henrico County and Virginia’s 16th District continue to be excellent places to live, work and do business.”
- “Virginia and Henrico County are among the best places in the nation for companies to grow,” added Delegate Rodney Willett. “Richmond National’s expansion will bring additional professional employment opportunities to our region.”
Workforce Support Through State Partnership
The Virginia Economic Development Partnership (VEDP) partnered with Henrico County to secure the project for the Commonwealth. VEDP will support the company’s hiring efforts through the Virginia Jobs Investment Program (VJIP).
The program provides funding and consulting services to help companies with employee recruitment, training and workforce development, reducing human resource costs for new and expanding businesses while strengthening Virginia’s workforce.
