Stonybrook Capital, a New York investment-banking firm that specialises in insurance, has advised Sawgrass Mutual Insurance Company, a writer of Florida homeowners’ insurance, on the completion of a successful strategic initiative.
“Over the last 18 months, we have been working with Sawgrass Mutual on a number of different strategic alternatives in an effort to poise the company for substantial and profitable growth in its core business,” said Joseph Scheerer, principal and managing director of Stonybrook.
“We were pleased to work with Sawgrass Mutual as it builds business in the Florida market.”
Randy Dumm, chairman of the Sawgrass Mutual board, commented; “We look forward to continued growth in Florida and were pleased to have Stonybrook as a strategic advisor.”
James Esse, CEO of Sawgrass Mutual, said: “We found Stonybrook Capital to be deliberate, thoughtful, and effective in delivering strategic solutions and we look forward to working with them in the future.”
Based in Sunrise, Florida, Sawgrass Mutual opened for business in 2009. The company writes voluntary business in Florida exclusively through a network of independent agents.
Stonybrook Capital provides a wide range of advisory services exclusively to clients in the insurance and reinsurance sectors including mergers and acquisitions, raising capital, market finding, and divestiture/partnership options, among others.
