FORT LAUDERDALE, Fla., Jan. 31, 2013 /PRNewswire/ -- Steven M. Mariano, Chairman and CEO of Patriot National Insurance Group announced that the Patriot group of companies has completed another successful affiliate sale. TriGen Insurance Solutions was sold to Carla Busick and Chris Rhoden, who have served as CEO and President respectively since 2012. This transaction is the latest in a series of successful affiliate spinoffs by Patriot. The newly independent TriGen Insurance Solutions, Inc. is a multi-purpose property and casualty insurance agency specializing in finding risk management solutions for its clients.
This transaction follows Patriot's successful 2011 sale of its managed care subsidiary, Patriot Risk Services, Inc. to MCMC, LLC, a leading provider of customized managed care and integrated service programs to insurance carriers across the country. Patriot Risk Services was founded in 2005 with an initial investment of $400,000 and sold to MCMC for $105 million.
Mr. Rhoden said, "TriGen has and will continue to focus on serving our client's needs from finding the right partner carrier, to meeting their needs which ultimately is their greatest concern." Ms. Busick added, "TriGen will continue to focus on the core business of PEO and staffing, as well as restaurants and the healthcare industry."
"I wish Chris and Carla the best of luck, and am confident that Chris and Carla will continue their successful track record in this new venture," said Steven Mariano, Chief Executive Officer of Patriot National Insurance Group.
About TriGen Insurance Solutions, Inc.
TriGen Insurance Solutions, Inc. offers insurance solutions for all manners of risk mitigation and insurance placement and will continue offering services starting at the basic consulting level to fully understanding the clients' business and the risks inherent in its specific industry. For further information, please visit www.trigengroupinc.com.
About Patriot National Insurance Group
Patriot National Insurance Group is an insurance holding company focused on workers' compensation insurance. Patriot National Insurance Group has two operating subsidiaries- Guarantee Insurance Company and Patriot Underwriters, Inc. For further information, please visit www.pnigroup.com.
SOURCE Patriot National Insurance Group