For Immediate Release
January 17, 2018
Uniondale, 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 William and Matthew Fishlinger following the sale of the Wright Insurance Group (“Wright”) to Brown & Brown. Formed as a highly sophisticated, blue-chip management platform, Gramercy provides managed services to insurance companies of all types, operating under the same philosophies regarding management of risk that William Fishlinger adopted when he formed Wright in 1978. Gramercy and its executive team will leverage the 30years of experience from Wright along with its successful risk financing model to effectively serve its client base.
“Gramercy is now well positioned to launch its first program, focusing on New York Contractors, in early 2018 and offer our services to other specialty, niche markets” said Matthew Fishlinger, EVP & Chief Operating Officer of Gramercy.
Gramercy has designed a comprehensive property and casualty program for New York Contractors, a market that has traditionally be underserved by the insurance industry. Gramercy plans to provide comprehensive coverage, stable pricing, and value-added services that will benefit both insureds and brokers.
William Fishlinger, Chairman & CEO of Gramercy, stated, “We are excited to announce the successful completion of our capital raise, which will allow us to bring our products and services to specialty markets. We believe that our basic methodologies for the evaluation, financing and mitigation of risk, which have been very effective in the past, will provide the framework for Gramercy’s success.
Stonybrook Capital acted as exclusive financial advisor to Gramercy Risk Holdings on this capital raising transaction.
About Gramercy Risk Holdings, LLC
Gramercy Risk Holdings is a full-service insurance management and risk-financing platform located in Uniondale, NY. Focusing on specialty, property and casualty business, Gramercy provides a comprehensive suite of services delivered by highly skilled underwriters, claims and litigation managers, risk managers, attorneys and loss control experts. In addition to managing programs on its own balance sheet, Gramercy offers these professional services to capital providers, third-party insurance companies as well as MGAs and brokers.
Corporate contact:
David Mocklow
Head of Corporate Development
Tel. 516-962-4618
dmocklow@gramercyrisk.com