Stonybrook Advises Heritage on their $25 million Public Offering of Common Stock
On December 19, 2023, Heritage Insurance Holdings, Inc. (NYSE: “HRTG” or “Heritage”), a super-regional property and casualty insurance holding company, announced the successful conclusion of its primary public offering of common stock. The gross proceeds, totaling approximately $25 million before accounting for underwriting discounts, commissions, and other expenses. The primary offering comprised of 3,703,703 shares […]
Stonybrook Reviews 2022 and 2023 P&C Markets
December 29, 2022 NEW YORK, NY — To our friends and colleagues, Please click here to find Stonybrook Capital’s Market Overview for 2022 and 2023. We hope that this analysis is helpful. As always, we welcome your questions and comments. About Stonybrook Capital & Risk ManagementStonybrook Capital & Risk Management is a global investment banking and reinsurance broking firm, with […]
Stonybrook analysis of Hurricane Ian
Greetings, Stonybrook is pleased to release estimates of insured losses and LAE from Hurricane Ian and market implications.Click Here. Corporate contact:Kendel BellTel: (646) 927 [email protected]
Stonybrook’s Reciprocals & Captives White Paper
August 2, 2022 NEW YORK, NY — To our friends and colleagues, In challenging markets, alternative structures can solve problems that more traditional carriers cannot. Reciprocal insurers and captives are currently finding increased interest. This Stonybrook whitepaper reviews these trends and summarizes the practical aspects of these and other alternatives. Please click here to view the […]
Stonybrook’s Update on Current Florida Market Conditions
May 31, 2022 NEW YORK, NY — To our friends and colleagues, We are pleased to enclose the Stonybrook update on the Florida insurance market. Also included is the Coastal White Paper released on April 4, 2022, which reviews the coastal insurance market of 2021 through March of 2022. Please click here to view the article. […]
Paul Kneuer Featured in Trading Risk Article
April 26, 2022 NEW YORK, NY – Paul Kneuer, a Stonybrook Managing Director, was featured in the Trading Risk article “Cyber ILS: On the edge of a breakthrough?” discussing the ILS cyber reinsurance sector. Paul illustrated the possible future of quota share offerings and how the market could handle cyberattacks and challenges. The full article can […]
Will Generous Invited To Speak At The Casualty Actuarial Society’s “CAS Spring Meeting 2022″
NEW YORK, NY Stonybrook Capital & Risk Management is proud to announce that its own, Will Generous, Senior Vice President, has been invited to speak on a panel at the Casualty Actuarial Society’s “CAS Spring Meeting 2022” in Orlando, Florida, on May 17th, 2022. The full conference will take place from May 15th to […]
Adam Clay Joins the Stonybrook Team as Senior Vice President
April 14, 2022 NEW YORK, NY – Stonybrook Capital & Risk Management (“Stonybrook”) is pleased to announce the recent addition of Adam Clay to the team. As Senior Vice President of Stonybrook Capital, Mr. Clay will assist the team in giving exclusive attention to the financing and banking services in the InsurTech space. Mr. Clay joined Stonybrook […]
Stonybrook Capital is Pleased to Release its Coastal Homeowners White Paper
2020 was, and 2021 is starting off as, a very active year in the coastal Homeowners market.
Stonybrook Capital & Risk Management is pleased to announce the initial success of its ILW desk
Stonybrook Capital & Risk Management is pleased to announce the initial success of its ILW desk, which was established in the summer of 2020. “Our goal was to bring technology that delivers transparency, improved market intelligence, and a less intrusive price-discovery process for underwriters and buyers, and we are thrilled by the support of the […]
Stonybrook Capital & Risk Management is pleased to recognize Albert (“Al”) Swanke, Jr.
FOR IMMEDIATE RELEASE February 26th, 2021 NEW YORK, NY – Stonybrook Capital & Risk Management is pleased to recognize Albert (“Al”) Swanke, Jr., a managing director, for his key role in building the Firm’s capability in the insurtech fund placement business. For the last four years, Al has worked closely with IA Capital Group to raise […]
Stonybrook Capital (“Stonybrook”) is pleased to announce that it has advised Cypress Group Holdings, Inc. (“Cypress”) on its proposed majority sale to an investment group led by Milestone Partners (“Milestone”).
For Immediate Release January 19, 2021 NEW YORK, NY — Stonybrook Capital (“Stonybrook”) is pleased to announce that it has advised Cypress Group Holdings, Inc. (“Cypress”) on its proposed majority sale to an investment group led by Milestone Partners (“Milestone”). Along with Cypress, Milestone has acquired controlling stakes in ancillary companies that were previously owned […]
Stonybrook Capital (“Stonybrook”) is pleased to announce that it has advised Xchange Group, LLC in the sale of 80% of the membership interests of each of Xchange Benefits, LLC and Xchange Affinity Underwriting Agency, LLC (collectively “Xchange”) to Ambac Financial Group, Inc. (NYSE: “AMBC”, “Ambac”)
For Immediate Release December 24, 2020 NEW YORK, NY — Stonybrook Capital (“Stonybrook”) is pleased to announce that it has advised Xchange Group, LLC in the sale of 80% of the membership interests of each of Xchange Benefits, LLC and Xchange Affinity Underwriting Agency, LLC (collectively “Xchange”) to Ambac Financial Group, Inc. (NYSE: […]
P&C Cost of Capital
2020 has been a challenging year to date for many companies in the industry, due to COVID and an active catastrophe season, but most covered their cost of capital.
Jacobs and Applied Underwriters Press Release
NEW YORK, NY — Stonybrook Risk Management, LLC, a wholly-owned subsidiary of Stonybrook Capital, LLC and licensed reinsurance intermediary, is pleased to announce the completion of a program agreement between Applied Underwriters, Inc. and Triangle Surety Agency (“Triangle”), a wholly-owned subsidiary of Jacobs Financial Group, Inc. (“Jacobs”). Stonybrook Risk Management advised Jacobs on this transaction […]
Northeast Coverages Inc. Press Release
NEW YORK, NY — Stonybrook Capital, LLC, is pleased to announce that it has advised Northeast Coverages Inc., on the acquisition of Texan managing general agency and surplus lines broker AUI Inc. Stonybrook Risk Management, LLC, a wholly-owned subsidiary of Stonybrook Capital, LLC and licensed reinsurance intermediary, served as the exclusive reinsurance intermediary for Northeast […]
Startup Waves and Stonybrook Services
Recently, there has been wide market discussion about new companies, a potential sign for the beginning of a new startup wave Startup waves have historically shown up after times of distress.
Insurtech eMaxx engages Stonybrook Capital to realise carrier ambition; makes senior insurance hire
Commercial property and casualty insurtech eMaxx has appointed Eileen Currie as president and CEO of its insurance operating companies as it prepares to become a full stack insurtech insurance company, The Insurer can reveal. eMaxx Assurance Group of Companies, formerly known as Energi, acts as the sponsor of eCaptiv, a Vermont domiciled captive reinsurance company […]
Lending in the Time of COVID-19
This paper analyzes the lending environment from the perspective of debt capital markets in light of COVID-19. Stonybrook interviewed a number of debt markets including regional banks, alternative asset managers, under-leveraged mutuals, and private equity firms in order to understand varying perspectives of the capital markets’ lenders.
Stonybrook Capital Advises on Sandell Re’s Sale to Randall & Quilter
For Immediate Release July 1, 2019 NEW YORK, NY — Stonybrook Capital & Risk Management (“Stonybrook Capital”) is pleased to announce that it has advised on the divestiture of Sandell Re, a Bermuda-based hedge fund reinsurer, to Randall & Quilter (AIMLSE “RQIH”, “R&Q”). R&Q is a Bermuda incorporated, leading provider of finality solutions for run-off […]
Stonybrook Capital Advises on Houston International Insurance Group’s Subordinated Debt Issuance
For Immediate ReleaseJune 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 […]
Stonybrook Capital Advises on Financing Transaction for Triangle Surety Agency
NEW YORK, March 18, 2019 – Triangle Surety Agency, Inc. (“Triangle” or the “Company”) a licensed, surety-focused insurance agency and wholly-owned subsidiary of Jacobs Financial Group (OTC Pink: “JFGI”), announced that it has succeeded in securing financing for certain of its working capital requirements. Proceeds will be used to pay certain expenses and fund aspects […]
Mutual Insurance Company News Analysis: Activist Stake in EMCI
We write you today to provide our perspectives on the recent announcement that now that activistinvestor Gregory Shepard has built a 5.09% stake in EMCI, he will be pushing to increase the valuation offered by the mutual parent Employers Mutual. Please click here to read the filing. Click here to view a case study we […]
Stonybrook Capital Advises on Heritage Insurance Holdings’ $125m Debt Facility
NEW YORK, NY — Heritage Insurance Holdings, Inc. (“Heritage” or the “Company), a Florida-based, homeowners insurance company, today announced it has succeeded in raising a $125m debt facility through a $75m term loan and $50m revolving credit facility. Proceeds will be used to refinance existing debt. Heritage is a Florida-based insurance company founded in 2012. […]
Stonybrook Capital’s Ravi Arps Featured by AM Best TV on Surplus Notes
For Immediate Release December 13, 2018 Ravi Arps, a Managing Director and Member of the Board of Stonybrook Capital was featured on AM Best TV in an interview discussing the broader market for surplus notes. Ravi illustrated the fragmented nature of the market, the developments arising out of the 2008 financial crisis, and the implications […]
Stonybrook Capital – THE – Market Leader in Hybrid Capital
NEW YORK — Stonybrook Capital, an investment and merchant bank firm, focused exclusively on the insurance industry, is pleased to announce the release of its Insurance Debt Capital Markets Review White Paper. In this White Paper we have explored the recent trends in the insurance debt capital markets while providing our thoughts and perspectives, which […]
Stonybrook Becomes a Member of the IRUA
NEW YORK, NY — Stonybrook Capital, an investment and merchant bank firm, focused exclusively on the insurance industry, is pleased to announce that it is now a corporate member of the Intermediaries & Reinsurance Underwriters Association (“IRUA”). “As the IRUA’s newest Members, Stonybrook Capital and Stonybrook Risk Management are a welcome addition to the Association,” […]
Stonybrook Capital was the Exclusive Sell-Side Advisor on Bondex Insurance Group’s Divestiture of Boston Indemnity Company
NEW YORK, NY – Stonybrook Capital was the exclusive advisor to Bondex Insurance Group in their divestiture of Boston Indemnity Company (BIC), which recently consummated a partnership with Houston International Insurance Group (HIIG). BIC, based in Boston, Massachusetts, writes contract and general surety bonds. BIC commenced underwriting in 2012. HIIG is a prominent specialty insurer […]
Stonybrook Establishes New Ventures Division and Appoints Sandra Familet to Lead it
NEW YORK, NY — Stonybrook Capital, an advisory and investment banking firm focused exclusively on the insurance industry, announces the creation of the Ventures Division and appoints Sandra Familet to lead it. The newly created division will capture the various initiatives of the company in the investment fund field under a single umbrella. The decision […]
Stonybrook Capital’s Property & Casualty Insurance Review
NEW YORK, NY — Please click here to find the first edition of Stonybrook Capital’s Property & Casualty Insurance Review. The paper covers macroeconomic and insurance trends, performance of insurance stocks, latest IPO’s in the insurance space and recent M&A activity. This paper predominantly covers June 30th 2017 to June 30th 2018 but there are […]
Paolo Grassi joins Stonybrook Capital as COO and General Counsel
NEW YORK, NY – Stonybrook Capital, an investment and merchant bank focused exclusively on the insurance industry, is pleased to announce that Paolo Grassi has joined the firm as COO and General Counsel. With extensive management and legal experience, spanning nearly three decades, Mr. Grassi brings valuable leadership to Stonybrook Capital’s executive team during a […]
William Nutt Joins Stonybrook Capital as Strategic Adviser
NEW YORK, NY – Stonybrook Capital, an investment and merchant bank focused exclusively on the insurance industry, is pleased to announce that William (“Billy”) Nutt has joined the firm as strategic advisor. By leveraging his in depth expertise of the insurance industry, Mr. Nutt will focus on providing advisory services to our clients with an […]
Stonybrook’s Ravi Arps Promoted to Managing Director
NEW YORK, NY — Stonybrook Capital, an investment and merchant bank firm, focused exclusively on the insurance industry, is pleased to announce that Ravi Arps has been promoted to Managing Director. Mr. Arps, formerly a Director with the firm, joined Stonybrook Capital in 2012 as a co-founder and today is also a member of the […]
Stonybrook Establishes New Risk Management Division
NEW YORK, NY — Stonybrook Capital, a preeminent investment and merchant bank focused on the insurance sector, announced today that Andrew Downing has joined the firm as the president of the newly formed Stonybrook Risk Management division. Mr. Downing will focus on providing value-added services to Stonybrook’s clients and prospects with an emphasis on the […]
Farmers Union Mutual of Arkansas to Affiliate with Farmers Union Mutual of North Dakota
New York, NY — Stonybrook Capital, an affiliate of FINRA-member Weild & Co., was named advisor to Farmers Union Mutual Insurance Company of Arkansas and its affiliated agency Eagle Management in their transaction with Farmers Union Mutual Insurance Company of North Dakota. Farmers Union Mutual Insurance Company of Arkansas is a mutual insurance company that […]
Gramercy Risk Holdings Completes Capital Raise
NEW YORK, NY — Gramercy Risk Holdings (“Gramercy”), a New York-based insurance programs management platform has raised an undisclosed amount of equity capital. Proceeds will fund Gramercy’s acquisition and capitalization of a shell insurance company to pair with its existing management company, Gramercy Risk Management. Gramercy was founded in 2014 by Bill and Matt Fishlinger […]
Thomas Deane Hired as a Director at Stonybrook Capital
NEW YORK, NY — Thomas Deane has joined Stonybrook Capital, a strategic advisory and investment banking firm focused exclusively on the insurance industry, Joseph Scheerer, Principal and Managing Director, announced today. “With more than 10 years of experience in financial services, Tom Deane brings in-depth experience in a wide range of investment banking advisory services […]
Main Street America Sells Great Lakes Casualty Insurance Company
New York, NY — Stonybrook Capital, an affiliate of FINRA-member Weild & Co., earlier this year was named advisor to Main Street America in connection with its intent to sell subsidiary company, Great Lakes Casualty Insurance Company (“GLC”). GLC is domiciled in Michigan and has been in runoff since 2015. The sale of GLC was […]
Conifer Holdings Raises $30 Million in Subordinated Notes
NEW YORK, NY — Conifer Holdings (NASDAQ: CNFR) a Michigan-based specialty-lines focused insurance holding company announced its agreement to raise $30,000,000 in subordinated notes with long-term flexibility and less restrictive terms. Proceeds will be used to refinance the $16.4 million outstanding senior debt, to support general working capital purposes, and to finance growth strategies. Conifer […]
Thoughts and perspectives on the “coastal state market”
Stonybrook issues letter from Joe Scheerer NEW YORK, July 11, 2017 Dear friends and colleagues, Stonybrook’s goal is to be a thoughtful strategic advisor to our clients and prospects. As such, we provide for your review a summary of the “Coastal State Perils” market, which is a key focus of our firm; please see attached. […]
Stonybrook Capital Establishes Formal Board of Directors
A Formal Board heralds the next stage in the evolution of Stonybrook Capital New York, NY — Stonybrook Capital announces the formation of a formal Board of Directors. The Board includes two independent directors, John DiGregoria, and Ian Winchester, and three internal directors, Dwight Evans, Ravi Arps, and Joe Scheerer. Each member offers complementary perspectives, […]