FORT LAUDERDALE, Fla., July 17, 2017 (GLOBE NEWSWIRE) — Patriot National, Inc. (NYSE:PN) (the “Company”), a leading provider of technology and outsourcing solutions to the insurance industry, announced today that Glenn Hibler has been elected as Chairman of Patriot National’s Board of Directors (the “Board”), effective July 14, 2017. Mr. Hibler succeeds Steven M. Mariano, following his resignation as Chairman, President and CEO on July 14, 2017.
“Mr. Hibler has deep knowledge and a passion for Patriot National’s business, and shares our focus on delivering value to our all of our stakeholders,” said John Rearer, Chief Executive Officer of Patriot National. “Mr. Hibler has extensive experience building successful technology-enabled insurance services companies. I look forward to working closely with him as the new Chairman of the Board and with our entire Board.”
“I appreciate the confidence that my fellow board members have shown in electing me to the position of Chairman of the Board," said Glenn Hibler. "I am excited to work with John Rearer and his senior leadership team to advance the growth opportunities we see to create value for our shareholders.”
Mr. Hibler has served as a member of Patriot National’s Board since April 25, 2017 and is the Chairman of the Compensation Committee and a member of the Audit Committee. Additionally, Mr. Hibler is Chairman of the Special Committee of Independent Directors to review and explore strategic alternatives.
Mr. Hibler has 25 years of experience in the insurance industry and significant expertise in strategic planning as well as product development and distribution. He is the co-founder of Traffk, a California-based provider of underwriting and risk services to insurance carriers. Previously, he founded The Insurance Exchange, a brokerage firm specializing in the design and distribution of national dental plans that was sold to MetLife. Previously, Mr. Hibler co-founded Benefitport, a technology firm specializing in internet-based employee benefits and group insurance. He is currently on the board of directors of Managed Discovery Network, a privately held company that provides litigation support services to the insurance industry.
About Patriot National
Patriot National, Inc. is a national provider of comprehensive technology and outsourcing solutions that help insurance companies and employers mitigate risk, comply with complex regulations and save time and money. Patriot National provides general agency services, technology outsourcing, software solutions, specialty underwriting and policyholder services, claims administration services, and self-funded health plans to its insurance carrier clients, employers and other clients. Patriot National is headquartered in Fort Lauderdale, Florida. For more information about Patriot National, please visit www.patnat.com.
Forward Looking Statements
This press release may include statements that may be deemed to be forward-looking statements. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates," "positioned," "outlook," "Guidance," and similar expressions are used to identify these forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties, and there are important factors that could cause actual results to differ materially from those indicated in these statements, including the potential that we may not accelerate our expansion into telemedicine. For example, we may not be able to place insurance policies for our clients, our expenses may be higher than we expect, we may have difficulty integrating new acquisitions, new acquisitions may not perform as anticipated, as well as those matters contained in our filings with the Securities and Exchange Commission. Although we base these forward-looking statements on assumptions that we believe are reasonable when made, we caution you that forward-looking statements are not guarantees of future performance or events and that results may differ materially from statements made in or suggested by the forward-looking statements contained in this press release. Any forward-looking statement that we may make in this press release speaks only as of the date of such statement, and we undertake no obligation to update any forward-looking statement or to publicly announce the results of any revision to any of those statements to reflect future events or developments.
Media and Investor Contact: Cindy Campbell Director of Investor Relations Patriot National, Inc. (954) 670-2907 [email protected]