Anchor Property & Casualty Insurance Co. is no longer under administrative supervision, following the submission of revised business plans and supporting documentation, according to a consent order from the Florida Office of Insurance Regulation (OIR).
The company is rebranding under the new name Patriot Select Property & Casualty Co.
Anchor entered the Florida market in 2014 through the state’s depopulation program, aimed at reducing policies held by Citizens Property Insurance Corporation, the state-run insurer of last resort.
In 2020, the company encountered financial challenges as market conditions in Florida worsened, prompting the transfer of its book of business to HCI Group Inc. The Florida regulator placed the company under administrative supervision in February 2020.
Now operating as Patriot Select, the company has returned to the depopulation space. In March 2025, it submitted a request to assume 39,000 policies from Citizens Property Insurance Corp.
Under the terms of the consent order, Patriot Select must notify the Office of Insurance Regulation of any changes in its executive leadership or board members for the next three years.
The rebranded company is led by John Rollins (pictured above), a veteran of Florida’s insurance sector with more than 30 years of experience. Rollins has held senior roles including chief financial officer and chief risk officer at multiple carriers and most recently served as chief risk officer and board member for Citizens Property Insurance Corp.
The regulatory action follows broader shifts in Florida’s property insurance landscape. Since 2021, state lawmakers have passed reforms aimed at stabilizing the market.
Between 2021 and 2024, the OIR approved several property insurance carriers to operate within the state, aiming to enhance market stability and provide consumers with more options.
The year 2022 saw multiple approvals: Centauri Specialty Insurance Company and Slide Insurance Company in the first quarter; Sutton National Insurance Company in the second quarter; and Loggerhead Reciprocal Interinsurance Exchange and VYRD Insurance Company in the fourth quarter.
In 2023, Mainsail Insurance Company, a Texas-based property and casualty insurer, was approved on Aug. 11. Shortly after, on Aug. 22, Orion180 Select Insurance Company and Orion180 Insurance Company, both Indiana-based insurers, received approval.
Additionally, Condo Owners Reciprocal Exchange was approved on Nov. 28 as a domestic property and casualty reciprocal insurer.
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