Patriot Select Property & Casualty Co. Undergoes Rebranding and Regulatory Oversight Lifting

Patriot Select Property & Casualty Co., formerly known as Anchor Property & Casualty Insurance Co., has successfully emerged from administrative supervision after submitting comprehensive revised business plans and essential documentation. This development comes as part of a consent order issued by the Florida Office of Insurance Regulation (OIR). The rebranding marks a significant shift for the company, initially entering the Florida market in 2014 through a state-led depopulation initiative designed to reduce the number of policies under Citizens Property Insurance Corporation, Florida’s insurer of last resort.

Following its initial market entry, the company faced financial setbacks in 2020 as Florida's insurance market experienced adverse conditions. These challenges prompted a strategic shift as the company transferred its policy portfolio to HCI Group Inc., leading to a period of administrative supervision starting February 2020. However, with renewed strategies and leadership, Patriot Select has resumed operations within the depopulation sector. In early 2025, the company requested to assume responsibility for 39,000 policies from Citizens Property Insurance Corporation, signaling its commitment to increasing market share and presence.

Under the stringent conditions laid out in the consent order, Patriot Select must ensure regulatory transparency by informing the OIR of any changes regarding its executive leadership or board members for the coming three years. This oversight aims to safeguard the company’s operational integrity and ensure stability as it navigates its growth trajectory in Florida's competitive insurance landscape. Steering the company is John Rollins, an industry veteran with over three decades of experience in Florida’s insurance sector. Rollins’ illustrious career includes senior positions as a chief financial officer and chief risk officer, notably serving on the board of Citizens Property Insurance Corp.

The enhanced regulatory environment and strategic developments at Patriot Select are reflective of wider transformative measures occurring within Florida’s property insurance sector. Since 2021, state legislative reforms have been instrumental in stabilizing the market, fostering a conducive environment for carriers to thrive. The OIR has played a proactive role, approving several insurance providers between 2021 and 2024, thereby diversifying consumer options. Notably, the year 2022 witnessed approvals for notable entities like Centauri Specialty Insurance Company and Slide Insurance Company. The succession of approvals continued in 2023 with notable entrants such as Mainsail Insurance Company and Orion180 Insurance Company enhancing market competition. Patriot Select’s resurgence aligns with these reforms, poised to deliver enhanced services and coverage solutions in Florida’s dynamic insurance landscape.