NEW YORK, June 08, 2017 (GLOBE NEWSWIRE) — Stonybrook Capital, an affiliate of FINRA-member Weild & Co., is an official member of the National Association of Mutual Insurance Companies (“NAMIC”).
“As NAMIC’s newest Market Member, Stonybrook Capital is a welcome addition to the association membership,” said Charles Chamness, President and Chief Executive Officer of NAMIC. “The company and its leadership bring a business focus that is consistent with, and brings added value to, the mutual insurance industry, and we look forward to their involvement in and support of the association in the years ahead.”
For more than 120 years NAMIC has been serving in the best interests of mutual insurance companies – large and small – across the United States as well as in Canada. NAMIC is the largest property/casualty insurance trade association with more than 1,400 member companies serving more than 170 million auto, home, and business policyholders.
“This membership further solidifies our role as “the” lead investment bank for this important sector of the insurance industry,” said Ravi Arps, founding member and Director of Stonybrook Capital.
“As a small specialist, we need to allocate resources very, very carefully. Given that we expect an incredible amount of corporate finance activity in the sector over the next several years, it is only appropriate for us to join NAMIC. We are focused on mutuals: we have had great success closing transactions in this space in conjunction with our equity partner, HOLBORN Corporation, that shares our strong focus on NAMIC member companies. It is only natural that our investment bank joins NAMIC,” said Joseph Scheerer, Principal and Managing Director of Stonybrook Capital. “We are looking forward to building a deeper and more focused relationship with this important sector,” Scheerer continued.
Stonybrook is a merchant and investment-banking firm located in New York City that focuses exclusively on the insurance and reinsurance industry. The Company’s shareholders include its employees, an accomplished reinsurance-industry executive, and HOLBORN Corporation, a reinsurance intermediary and advisory firm founded in 1920 that prides itself on its independence and exceptional client service.
Securities transactions are executed through Weild & Co., member FINRA | SIPC. For more information, visit our website: www.stonybrookcapital.com.
CONTACT: Corporate Contact: Joseph M. Scheerer [email protected]