NEW YORK, N.Y., May 4, 2020 (SEND2PRESS NEWSWIRE) — Paragon Insurance Holdings, LLC, headquartered in Avon, Connecticut, a national MGA, announced today that it has closed on the purchase of Trident Public Risk Solutions (TPRS). Acquired from Argo Group (Argo), the transaction positions Paragon as one of the largest providers of commercial insurance coverage for public entities in the U.S. As part of the transaction agreement, Trident’s business will continue to benefit from Argo policy and claims services.
“I am excited to work with the Paragon team, growing this great business and delivering tremendous value to our public entity customers,” said Timothy Carter, Executive Vice President.
“We are excited to have Trident as part of our portfolio of companies and to be growing our business with Argo Group. Their collective expertise in public entity insurance and risk management will create a great partnership as we continue to grow together,” said Ron Ganiats, CEO and co-founder of Paragon.
The business will continue to report to Sue Coates, President of TPRS – Guaranteed Cost Division and John Atherton, President of TPRS – Retained Limits.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NYSE: ARGO), is an underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo Group’s insurance subsidiaries are A.M. Best–rated “A-” (Excellent), and Argo Group’s U.S. insurance subsidiaries are Standard and Poor’s–rated “A-” (Strong). More information on Argo Group and its subsidiaries is available at https://www.argolimited.com/.
Paragon Insurance Holdings, LLC, is headquartered in Avon, Connecticut, and operates as a national MGA. Formed in 2014, the company writes all commercial lines of insurance across more than twenty insurance programs. Paragon’s industry-specific and general underwriting facilities offer insureds, retail agents, carriers, reinsurers and service providers unique product, service, capability, and results. Please visit https://www.paragoninsgroup.com/ for additional information.
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Tickers: NYSE:ARGO / NY: ARGO
News Source: Paragon Insurance Holdings LLC