Enstar, a Bermuda-based specialty insurance acquisition and management company, is putting its U.S. headquarters in Richland County with plans to add more workers, the company and state officials said Monday.
Enstar acquired Companion Property and Casualty Insurance Co. from BlueCross and BlueShield of South Carolina for $218 million last year and renamed it Sussex Insurance Co.
Enstar will invest $500,000 and move into a 36,000-square foot facility on Dawson Road off Two Notch Road to expand its business in Northeast Richland, the company said. Enstar will retain the existing 120 employees and add 60 new jobs.
“The insurance industry is an important component of our local economy and today's announcement is further evidence it is alive and well,” Richland County Council Chairman Torrey Rush said in a statement.
Companion was a Columbia-based insurance group writing property, casualty, specialty and workers compensation business as well as providing administrative services. Enstar will operate Sussex as part of its property and casualty business, and said some Companion policies will be renewed into another subsidiary, Torus National Insurance.
Headquartered in Hamilton, Bermuda, Enstar said it has acquired more than 65 firms and company portfolios since it was founded in 2001. Enstar and its subsidiaries acquire and manage insurance businesses in the United States, United Kingdom, Bermuda and Australia. The company employs more than 1,300 workers.