Paragon Insurance Holdings, LLC has completed its previously announced acquisition of Trident Public Risk Solutions from Argo Group International Holdings, Inc.
It was announced in early February 2020 that Argo had agreed to sell the Trident brand and underwriting platform to Paragon, but retain the unit’s claims operations.
The deal has now completed and positions Paragon as one of the largest providers of commercial insurance for public entities in the U.S. As noted, under the agreement, Trident’s business will continue to benefit from Argo policy and claims services.
Timothy Carter, Executive Vice President (EVP), commented: “I am excited to work with the Paragon team, growing this great business and delivering tremendous value to our public entity customers.”
Following the completion of the transaction, the business will continue to report to Sue Coates, President of Trident’s Guaranteed Cost Division and John Atherton, President of Trident, Retained Limits.
Ron Ganiats, Chief Executive Officer (CEO) and Co-founder of Paragon, commented: “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.”
