Ft. Lauderdale, FL – Patriot National, Inc. (NYSE: PN), a provider of technology and outsourcing solutions, recently announced that it has acquired Mid Atlantic Insurance Services, a wholesale brokerage firm and program administrator offering a full array of commercial property and casualty insurance lines. In addition to new property and casualty products, the acquisition brings to Patriot National 12 new carrier relationships and 1,100 new retail agencies.
Mid Atlantic is a premier insurance brokerage serving independent insurance agencies in 38 states and representing many of the largest and best property and casualty carriers in the industry. Mid Atlantic has also been recognized for the quality of its customer service, including rapid quote turnaround times and competitive pricing. Mid Atlantic will become part of Patriot Underwriters and Steve Love, President of Mid Atlantic, will report to Paul Halter, Executive Vice President of Field Operations, Patriot National Inc. and CEO of Patriot Underwriters, Inc.
“The addition of Mid Atlantic provides over 4,000 insurance agencies access to many workers’ compensation insurance quotes simultaneously from our Patriot regional offices. The insurance carrier choices that are now available to our employer clients have increased fivefold since our IPO last January,” said Steven M. Mariano, Chief Executive Officer of Patriot National. “This acquisition also enhances our distribution reach, adding over 1,100 new retail agencies, expands our property and casualty product lines to include general liability, business auto, commercial package, umbrella, excess liability, special events, surety, EPLI, professional liability, farm, and personal lines for high net worth families, and adds 12 new carrier relationships to Patriot National. Consistent with our organic growth strategy, we look forward to introducing additional services to these new carriers and agencies.”
“We are pleased to join the Patriot National team and look forward to extending our distribution reach and expanding our production volume as part of Patriot’s nationwide platform,” said Steve Love, President of Mid Atlantic.
Source: Patriot National