Governor McAuliffe Announces 1,173 New Jobs in Henrico County Following Meeting with Parent Company in Cardiff, United Kingdom
~Elephant Auto Insurance to invest $2 million to expand U.S. headquarters operation~
Governor Terry McAuliffe announced today that Elephant Auto Insurance, a subsidiary of U.K.-based Admiral Group plc, will invest $2 million to expand its U.S. headquarters operation in Henrico County. The Governor made the announcement following a meeting with Admiral Group officials in Cardiff during his European marketing mission. The project will create 1,173 new jobs.
Speaking about today’s announcement from Cardiff, Governor McAuliffe said, “It was a pleasure to meet with Admiral Group COO David Stevens during my European marketing mission to strengthen the company’s corporate partnership with Virginia and announce this investment in Henrico County. Helping existing Virginia businesses grow is a key part of my administration’s efforts to build a new Virginia economy, and we are excited that Elephant has chosen to expand in our great Commonwealth.”
“This is exciting news for Henrico County and the Commonwealth,” said Secretary of Commerce and Trade Maurice Jones. “This is another example of a global business that understands the value proposition of doing business in the Commonwealth and is choosing to enhance its investments here. We are proud this fast-growing company calls Virginia home, and we look forward to the continued success of Elephant Auto Insurance.”
Elephant Auto Insurance, a subsidiary of Admiral Group plc, is one of the fastest growing auto insurance companies in the U.S. Elephant is known for an intense focus on cost management to offer low rates and a unique culture that provides great customer service and employee satisfaction. Admiral Group is the third largest auto insurer in the United Kingdom with 14 brands extending into three additional European countries. Admiral operates a direct-to-consumer business model, serving customers via the phone and internet, and has over four million customers worldwide. Admiral Group plc is consistently listed among the top places to work for by UK and EU national publications.
Kevin Chidwick, CEO of Elephant, said, “We chose Richmond for our U.S. headquarters because of simple cost-benefit economics. The labor force here is excellent – well educated, friendly, hard-working, honest, analytical, creative. The talent pool is plentiful across our many functional business areas, including customer service, claims handling, IT, accounting, marketing, sales, compliance, and insurance operations as well as call center operations. Because of the region’s reasonable cost of living, the financial economics of recruiting, rewarding, and retaining this talent are not only attractive in the short-term, but aligned with our business’s long-term aspirations. Finally, the region’s public leaders have proven to be exceptional business partners during every step of our journey – from research to evaluation, and from launch through on-going support.”
The Virginia Economic Development Partnership worked with the Henrico County Economic Development Authority to secure the project for Virginia. The Greater Richmond Partnership also provided valuable assistance. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“In 2009, Elephant Auto Insurance worked with the Greater Richmond Partnership and Henrico County to locate its U.S. operation here, and has already grown to be one of our major employers,” said Frank J. Thornton, Chairman of Henrico County Board of Supervisors. “We appreciate the commitment to Henrico County as Elephant has expanded its U.S. footprint, added new jobs and relocated to larger offices in Henrico County. Elephant exemplifies what it means to be a good corporate citizen, and we are proud the company calls Henrico County home.”
“Economic development remains a top priority in the Commonwealth, and I am thrilled that Elephant Auto Insurance continues to bring new jobs and investment to Henrico County,” said Senator Walter Stosch.
Since the beginning of the McAuliffe administration, 408 economic development deals have been closed in Virginia with more than $7.11 billion in capital investment, which is more than twice the amount of capital investment brought to the Commonwealth by the previous two governors in the first 16 months in office.