FORT LAUDERDALE, Fla.,/PRNewswire/ — Patriot National Insurance Group, a leading provider of workers’ compensation insurance and insurance services, today announced that it has received $30-million in equity funding from Six Points Investment Partners LLC, a diversified investment group serving the insurance and financial services industries.
“We are very pleased to be able to bolster our capital position with this financing,” said Steven M. Mariano, Chairman and Chief Executive Officer of Patriot National Insurance Group. “With this investment completed, we now have greater financial flexibility to fuel our growth, expand into new geographic markets, and improve operations.”
Patriot National Insurance Group has two operating subsidiaries. The first, Guarantee Insurance Company specializes in alternative market workers’ compensation insurance and is licensed in 41 states.
The second, Patriot Underwriters, Inc. is a national program administrator that produces, underwrites and services workers’ compensation insurance for leading insurance companies. Patriot Underwriters reported written premium under management of $292.4 million at the end of the first quarter of 2011.