It was once known as Anchor Property & Casualty Insurance Co., based in St. Petersburg, Florida, and launched in 2014. Then it was known as another Florida carrier that had slipped into financial troubles and was placed into an orderly runoff during the height of the claims litigation crisis.
Today, it has been born again as Patriot Select Property and Casualty Insurance, the latest entry (or re-entry) into the reformed Florida market. Company leaders hope to have at least 40,000 policies in force by the end of this year.
“We’re very pleased to be fully capitalized. We should have about $29 million in the carrier to start,” said CEO John Rollins, who has worked for the past 18 months to raise the capital and organize a management team.
Rollins is a fixture