NEW YORK, NY — Stonybrook Risk Management, a wholly-owned subsidiary of Stonybrook Capital and licensed reinsurance intermediary, is pleased to announce the completion of a parametric insurance transaction. The transaction was distinctive in utilizing a parametric solution to replace traditional insurance for its Caribbean-based client.
The transaction was led by parametric veteran Dan Butzbaugh. Dan commented “Stonybrook was able to replace our client’s traditional insurance with a stand-alone parametric structure with rates and security competitive with the traditional marketplace”
Buyers in hurricane-prone areas are finding it increasingly difficult to hedge their assets using traditional insurance products and have turned to parametric insurance to provide coverage where the traditional market hasn’t responded. Stonybrook leveraged its parametric expertise to design a product without traditional deductibles and exclusions, and secured terms to respond within days to weeks post event. Stonybrook has a rich history in bringing alternative risk products to its clients and utilizing the most efficient capital.
Paul Kneuer, Partner and Board Member of Stonybrook Capital, also commented, “Our creative solution addressed the buyer’s particular coverage need more efficiently than the indemnity insurance market could. Stonybrook looks to meet our clients’ needs across all possible markets to find the best outcomes”
About Stonybrook Capital & Risk Management
Stonybrook Capital & Risk Management (“Stonybrook”) is a global advisory boutique, headquartered in New York City, providing clients with capital raising, M&A, reinsurance broking and investment advisory solutions. Stonybrook focuses exclusively on the insurance and reinsurance industry. Founded in 2012, Stonybrook was ranked #2 behind Goldman Sachs in the S&P advisory league tables for 2022.
Corporate Contact:
Kendel Bell