If there’s any lingering question about Colorado’s fast-growing status as a magnet for global business, those in doubt need only scroll down a list of companies opening new offices in the state, from Panasonic Enterprise Solutions’ planned business and technology center near Denver International Airport, to Charles Schwab’s new 47-acre campus in Lone Tree.
Now, JLT Specialty Insurance, a subsidiary of London’s JLT Group, has become the first top-five global insurance brokerage to base its U.S. headquarters in Denver.
The company opened up shop in the Rocky Mountain Seed Building on Market Street in December 2014, and will lead U.S. operations in six cities including Houston, Dallas, Chicago, New York, San Francisco and Los Angeles. The Denver office currently employs 30, with plans to double that number in three years.
“It feels great to live in a place like Denver, and to be an employer here and support this marketplace,” said CEO Michael Rice.
The Mile High City’s central location puts the company in a prime position to service clients on both coasts, while DIA offers convenient access to international meetings and events. Denver is also a hub for the industries the firm plans to service, such as aviation, technology and the oil and gas industry. Most of the company’s executives hail from Denver or have lived here for many years, possessing valuable local knowledge and industry experience.
Unlike its parent company, which has offices in 140 countries and covers a vast array of industries, JLT Specialty Insurance will focus mainly on insuring a handful of sectors within corporate America, bringing in-depth expertise to the energy, aerospace, aviation, technology and financial lines areas. Major products in the space include directors and officers liability, which protects company executives from shareholder litigation, errors and omissions (E&O) insurance, and policies to cover cyber attacks – a rising threat to corporate America.
Introduced in 1999, cyber insurance is one of the fastest growing products in the industry, thanks in part to the scourge of recent data breaches at companies like Sony and Home Depot. Rather than rely solely on in-house security systems, businesses are increasingly purchasing plans to cover unforeseen expenses that can result from a hack, such as reissuing credit cards, or notifying groups exposed to identity theft.
Growing to over 100 employees in four short months, and serving clients ranging from fortune 100 companies to venture-backed tech startups, the firm’s U.S. footprint is gaining momentum and growing rapidly.
The company’s success, according to Rice, can be traced back to its core philosophy. “We are focused experts and understand those elements needed to perform for the client,” he said, noting that the firm has invested heavily in its legal, broking and specialist teams. “The key is that our team works together to make sure we 
