Stonybrook Capital, an insurance sector focused merchant and investment-banking firm, has launched a new division called Stonybrook Risk Management, and named Andrew Downing as its President.
As President of the newly formed unit, Downing will provide value-added services to the company’s clients and prospects, with a focus on the insurance carrier and managing general agent (MGA) marketplace, InsurTech, product development, alternative risk, captive services, and also reinsurance and strategic advisory.
Joe Scheerer, Principal and Managing Director, commented; “As a firm that focuses on the insurance industry, we are acutely aware how important it is to be able to provide services beyond the traditional investment banking scope.
“We are excited to have Andrew as part of the team and know that our clients and prospects will appreciate the complimentary services that he can provide and the experience that he has in the sector.”
Downing brings extensive insurance and reinsurance experience and expertise to the role, having held positions at E.W. Blanch, Towers Perrin/Towers Watson, and most recently reinsurance broker JLT Re.
Commenting on his new role, Downing said: “Joe has done a tremendous job in building out Stonybrook. He has created an organization that is driven to provide best in class solutions for their clients, by recognizing the importance of value and commitment the entire team brings to the table. Having the ability to provide a broader service offering through risk management and ancillary insurance services will only add to the already successful client experience.”
