Hamilton Select Insurance Inc. has launched, a new U.S. excess and surplus (E&S) lines insurance carrier formed by Bermuda-based insurer and reinsurer, Hamilton Insurance Group, Ltd., and which has received a Financial Strength Rating of A- (Excellent) from AM Best.
Alongside the launch, Hamilton has announced that its former President of U.S. E&S, Clay Rhoades, has been appointed as Chief Executive Officer (CEO) of Hamilton Select Insurance and continues to report into Pina Albo, Hamilton’s CEO.
Rhoades joined the firm in January of 2021 and has successfully expanded the firm’s U.S. E&S book of insurance business.
He heads up a Richmond, Virginia-based team, writing hard to place risks for SMEs, with plans for additional solutions and recruitment already underway.
Hamilton’s new U.S. E&S insurer is based in Delaware and joins the company’s existing operating subsidiaries Hamilton Re in Bermuda, Hamilton Insurance DAC in Ireland, and Hamilton Managing Agency Limited in London.
Albo commented: “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.
“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.”
Rhoades added: “The launch of Hamilton Select Insurance Inc. underscores our commitment to the US E&S space. 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.”
