For Immediate Release
June 3, 2019
NEW YORK, NY — Stonybrook Capital is pleased to announce the completion of a capital raise in the amount $20,000,000 in the form of long-term subordinated debt for Houston International Insurance Group (“HIIG”), a Houston-based, leading specialty insurer.
Stonybrook Capital served as the exclusive financial advisor to HIIG on this transaction.
“HIIG is a marquee client and we were honored to help them identify a quality capital partner and desirable debt structure,” said Ravi Arps, Managing Director at Stonybrook Capital.
“Our firm is laser focused on subordinated debt and
being able to assist a company of HIIG’s caliber only reaffirms our expertise
in the sector,” said Joseph Scheerer,
Principal & CEO of Stonybrook.
Scheerer continued, “Stonybrook takes a holistic and multi-faceted approach to
the sector. For example, we recently succeeded in bringing a new MGA program to
HIIG via our wholly owned reinsurance intermediary, Stonybrook Risk Management.
We look forward to a mutually beneficial relationship with HIIG going forward.”
About Stonybrook Capital
Stonybrook Capital is a merchant and investment banking firm located in New York City that focuses exclusively on providing advisory services to the insurance industry including M&A advice, raising capital, and fund placements (i.e. a recently closed insurtech fund). Stonybrook Risk Management is a licensed reinsurance intermediary with a focus on the program sector, as well as specialty lines, broadly defined. Stonybrook, as a firm, is represented in London and internationally through KM Dastur and London-based employees
Securities transactions are executed through Weild & Co., member FINRA | SIPC.
About HIIG
HIIG is a leading specialty insurance company with five Insurance Company Subsidiaries led by Houston Specialty Insurance Company.
HIIG is rated A- (Excellent), Financial Category IX by A.M. Best Company.
HIIG has underwriting segments focused on Accident & Health, Commercial, Excess & Surplus Lines, and Specialty. HIIG has total assets exceeding $1.5 billion and Shareholders’ Equity of almost $350 million.
Corporate contact:
Ravi Arps
Managing Director
Tel: (646) 766 1606
[email protected]