For Immediate Release
March 17, 2022
NEW YORK, NY — Stonybrook Capital (“Stonybrook”) is pleased to announce that it has advised Summit Specialty Insurance Company (“Summit Specialty”) on its $7,500,000 surplus note with Federated Life Insurance Company. Summit Specialty is a wholly owned subsidiary of ReAlign Insurance Holdings, LLC. The group is rated “A” (size category VIII) by A.M. Best and is a vertically aligned, specialty program platform in the commercial and personal insurance markets.
“We are pleased to have had the opportunity of working with ReAlign and identifying a quality capital partner for its surplus note. This capital raise will provide our client with desirable long-term capital for future growth.” said Will Generous, Senior Vice President at Stonybrook.
“Will and the team at Stonybrook were great to work with and quickly found the right partner to help us on this raise. We were happy to work with Stonybrook on this effort and to partner with Federated to gain additional capital and surplus in support of our growth plan” stated Tim McAuliffe, President of Summit Specialty Insurance Company.
Stonybrook Capital served as the exclusive financial adviser to Summit Specialty on this transaction
Please find a case study of the transaction by clicking here.
About Stonybrook Capital
Stonybrook Capital is a global investment banking and reinsurance broking firm, with headquarters in New York City, and offices in London, that focuses exclusively on the insurance and reinsurance industry.
Securities transactions are executed through Weild & Co., member FINRA | SIPC.