Richmond National launches E&S unit

Richmond National Group Inc. said Friday it has formed Richmond National Insurance Co., a specialty excess and surplus lines unit supported by more than $70 million in capital from a group of investors, including its senior management team.

Richmond National Group, based in Richmond, Virginia, said the new insurer specializes in writing hard-to-place risks for small and midsized businesses.

It underwrites general casualty, contractors casualty, excess casualty, commercial property, inland marine, professional liability and small-business package lines of business.

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