Around the industry: June 4, 2015

News from Willis North America, RFIB Holdings Limited, ISO and more. (Photo: Shutterstock)

Patriot National has acquired Infinity Insurance Solutions, an auditing and underwriting survey agency based in Overland Park, Kansas serving providers of workers’ compensation, general liability and property and casualty insurance. Infinity’s president, Steve Sales, will continue to operate the business with his team and will become part of Patriot Underwriters, a subsidiary of Patriot National. 

GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, placed Series 2015-1 Notes with notional principal at $100,000,000 through a newly formed Bermuda domiciled catastrophe bond shelf program, Pelican III Re Ltd., to benefit Louisiana Citizens Property Insurance Corporation. This is the third time that LA Citizens has utilized the cat bond market to manage its tropical cyclone risks.