Workers' compensation solutions provider Patriot National Insurance Group has completed sale of its affiliate, TriGen Insurance Solutions.
The company was acquired by Carla Busick and Chris Rhoden, who served as its chief executive officer and president respectively since 2012.
TriGen Insurance Solutions is a multi-purpose property and casualty insurance agency specializing in finding risk management solutions for the customers.
Rhoden said, "TriGen will continue to focus on the core business of PEO and staffing, as well as restaurants and the healthcare industry."
Representing the latest in a series of successful affiliate spinoffs by Patriot, the deal follows the company’s successful sale of its managed care subsidiary, Patriot Risk Services to MCMC for $105m in 2011.
Founded in 2005, Patriot Risk Services provides customized managed care and integrated service programs to insurance carriers across the US.
Headquartered in Fort Lauderdale, Patriot Underwriters produces, underwrites and administers alternative market and traditional workers’ compensation insurance plans for insurance companies, segregated cell captives and reinsurers.