Tech company acquires insurance wholesaler

A Florida-based tech solutions company has bought a Virginia-based wholesale brokerage specializing in commercial P/C insurance lines

Insurance News

By Lyle Adriano

Patriot National, Inc. announced Jan. 28 that it has acquired Mid Atlantic Insurance Services. The former is a tech company in Florida that offers outsourcing solutions to insurance companies, while the latter is a wholesale brokerage firm and program administrator.

As part of the acquisition, Mid Atlantic will become part of Patriot Underwriters. Mid Atlantic president Steve Love will report to Patriot National Inc. Executive Vice President of Field Operations and Patriot Underwriters, Inc. CEO Paul Halter.

The brokerage serves independent insurance agencies in 38 states and represents many of the most popular property and casualty insurers in the industry.

"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 Patriot National CEO Steven M. Mariano.

"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," Love remarked regarding the acquisition.
 

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