Hamilton Insurance Group, Ltd. (“Hamilton”; “the Company”) today announced the formation of Hamilton Select Insurance Inc., a US excess and surplus (E&S) lines insurer. Hamilton Select Insurance Inc. has received a Financial Strength Rating of A- (Excellent) from A.M. Best Company, Inc.
Hamilton’s Clay Rhoades, formerly President, US E&S, has been named CEO, Hamilton Select Insurance Inc. and continues to report to Hamilton CEO Pina Albo. Rhoades joined Hamilton a year ago and has successfully grown the Company’s US-based book of E&S insurance business. He leads a Richmond, Virginia-based team, writing hard to place risks for small and mid-sized businesses, with plans for additional products and recruitment already underway.
“Under Clay’s leadership, we hit the ground running. In one year, we’ve gone from being a startup to writing business across multiple lines and are now launching a dedicated E&S carrier to further enable the business to grow,” said Albo. “The breadth and depth of experience of our E&S colleagues, combined with the capabilities and collaborative culture of Hamilton’s global team, is a compelling proposition.”
“The launch of Hamilton Select Insurance Inc. underscores our commitment to the US E&S space,” said Rhoades. “We continue to leverage this period of accelerated market growth and are dedicated to delivering solutions of value as a leading E&S option for our brokers and clients.
“With its deep talent pool, I’m pleased that we’ve made Richmond, Virginia the home base for our team and the location of our new office. We’ll also continue to have colleagues in other US cities, as we seek to attract the best talent possible to our growing team.”
Hamilton Select Insurance Inc. is domiciled in Delaware and joins Hamilton’s existing operating subsidiaries Hamilton Re, Ltd. in Bermuda, Hamilton Insurance DAC in Ireland and Hamilton Managing Agency Limited (Lloyd’s Syndicate 4000) in London.