Berkley Insurance plans $6 million expansion and 72 new jobs in Virginia

Governor Glenn Youngkin has announced that Berkley Insurance Company, a subsidiary of W. R. Berkley Corporation, will invest $6.1 million to expand its current location in Henrico County by assuming an additional 8,920 square feet of office space to accommodate growth in its Berkley Aspire, Berkley Mid-Atlantic Insurance Group, and Verus Specialty Insurance businesses.

Virginia successfully competed with Arizona and Ohio for the project, which will create 72 new jobs that include underwriters, financial analysts, accountants, and C-suite positions. 

“Berkley Insurance Company’s decision to expand in Henrico County demonstrates the continued positive momentum of Virginia’s economy and the business process services industry,” said Governor Glenn Youngkin. “Greater Richmond is known for providing the robust talent pipeline that leading businesses like Berkley Aspire, Berkley Mid-Atlantic, and Verus Specialty require, and we look forward to supporting their next chapter of growth.”

“There is no better testament to Virginia’s advantages than for our existing businesses to succeed and reinvest in the Commonwealth,” said Secretary of Commerce and Trade Caren Merrick. “We thank Berkley Insurance Company for contributing to Virginia’s growing business services industry and the well-paying jobs that this expansion will bring.”

“We are proud to confirm our expectation for growth and advancement within the Henrico County, Virginia territory. As we reflect on the exceptional talent that Henrico has consistently provided for us, particularly in the realm of excess & surplus lines insurance, we are excited for the future. With the projected expansion, particularly of Verus Specialty and Berkley Aspire, we envision continued growth, bolstered by the incredible talent pool and the invaluable relationships we have cultivated with insurance brokers in this region. Henrico as a hub for our business expansion is undeniable, and we embrace the opportunities that lie ahead,” said Berkley Mid-Atlantic Insurance Group President Michelle D. Middleton.