(Ft. Lauderdale, home of Patriot National. Photo credit: Vencel Milei.)
Patriot National, a Fort Lauderdale, Fla.-based provider of outsourcing solutions core insurance systems, has acquired Mid Atlantic Insurance Services (Richmond, Va.), a wholesale brokerage firm and program administrator offering what Patriot characterizes as 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.
A Patriot statement describes Mid Atlantic as 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, according to the statement. Mid Atlantic will become part of Patriot Underwriters and Steve Love, President of Mid Atlantic, will report to Paul Halter, executive VP of Field Operations, Patriot National Inc. and CEO of Patriot Underwriters, Inc.
Five-Fold Increase in Carrier Choices
“The addition of Mid Atlantic provides over 4,000 insurance agencies access to many workers’ compensation insurance quotes simultaneously from our Patriot regional offices,” comments Steve Mariano, CEO, Patriot National. “The insurance carrier choices that are now available to our employer clients have increased fivefold since our IPO last January.”
The acquisition also enhances Patriot’s 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, Mariano adds. “Consistent with our organic growth strategy, we look forward to introducing additional services to these new carriers and agencies,” he says.
“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,” comments Steve Love, President, Mid Atlantic.