Bermuda-based specialty insurer Hamilton Insurance Group, Ltd. reports it has formed Hamilton Select Insurance Inc., a U.S. excess and surplus (E&S) lines insurer.
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.
Hamilton’s Clay Rhoades, formerly president, U.S. E&S, has been named chief executive officer of the new company, Rhoades joined Hamilton a year ago to grow the company’s U.S.-based book of E&S insurance business.
Rhoades leads a Richmond, Virginia-based team, writing hard to place risks for small and mid-sized businesses. The announcement said plans for additional products and recruitment are underway.
In the U.S., Hamilton also has teams in Miami and New York.
Clay will continue to report to Hamilton CEO Pina Albo.
“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.
Rhoades said Hamilton Select will “continue to leverage this period of accelerated market growth.”
Hamilton Select has received a Financial Strength Rating of A- (Excellent) from A.M. Best Co.
Topics USA Carriers Excess Surplus
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