US-based Patriot National has acquired wholesale brokerage firm Mid Atlantic Insurance Services, for an undisclosed sum.
Mid Atlantic, which is a premier insurance brokerage and also a program administrator, provides commercial property and casualty insurance products to its customers as well as services to independent insurance agencies in 38 states of the US.
The deal enables Patriot National to establish 12 new carrier relationships, as well as to add 1,100 new retail agencies.
The acquired business operates under Patriot Underwriters, while its president Steve Love reports to Patriot National field operations executive vice-president and Patriot Underwriters CEO Paul Halter.
Steve Love said: "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."
Patriot National CEO Steven Mariano said: "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."
Last August, Patriot National acquired R.C.A. Insurance Group, which provides preferred insurance programs developed specifically for restaurants, bars and taverns in the US.
Patriot National provides technology and outsourcing solutions within the property and casualty marketplace for insurance companies, employers, local governments and reinsurance captives.
Image: Mid Atlantic provides commercial property and casualty insurance products. Photo: courtesy of Stuart Miles / FreeDigitalPhotos.net.