Hamilton launches new US E&S lines insurer

Hamilton has appointed Clay Rhoades as CEO of the newly formed Hamilton Select Insurance Inc.

The Bermuda re/insurer hired Rhoades last January as president of Hamilton Managing General Agency Americas. He now takes the lead of its US excess and surplus (E&S) lines insurer. Domiciled in Delaware, it has received an A- (Excellent) financial strength rating from AM Best.

Rhoades 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. He continues 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. “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.”