(Jacksonville, Fla. April 4th, 2014 – Sunshine State Insurance Company (SSIC) today named TAG Financial Institutions Group, LLC, to serve as its investment banking resource for the company’s near and long term plans, working in collaboration with U.S. RE Securities, LLC.
According to Joseph Braunstein, Chief Executive of SSIC, two near term goals for the investment banking team include the addition of surplus reserves, following the Company’s recent Florida OIR filing that included a reclassification of some assets, and the support for SSIC’s protracted expansion in the Florida market. Mr. Braunstein stated, “The Company’s excellent underwriting results, our strong professional staff, our established market presence due to a continued strong partnership with our agents and our soon to be announced new products suggest to us that we add capital to bolster the Company today and enable its growth in this marketplace in the future. The professionals at TAG Financial have great depth and a working knowledge of our industry and have access to specific capital that will prove most meaningful for the growth of SSIC. We are quite optimistic.”
Steven Nigro, Managing Partner of TAG Financial, stated: “SSIC’s insurance operations and business plan are fundamentally solid and its unique franchise in the State of Florida has prompted a great deal of interest from strategic and financial suitors. We look forward to working with the SSIC team and Greg Nelson of U.S. RE Securities so that they may continue to build this franchise”.
Sunshine State Insurance Company (SSIC) is a full-service insurance provider in Florida specializing in personal residential property insurance through homeowner’s policies, flood insurance and builders risk policies. As a Florida based insurance company in business since 1997, SSIC has weathered literally many storms with its customers. SSIC prides itself on understanding the unique demands of property insurance in Florida and is known for its careful, times taking approach to ensuring that policies are tailored to match client needs. Collectively SSIC boasts more than 180 years of experience in the insurance industry, giving substance to support its pledge of providing the highest level of personal service with unmatched experience, knowledge and industry standing. It is also one of Florida’s oldest insurance companies.
For information contact CINN / Christina Claudio: 914 966 3180 ext 112 or Claudio@cinn.com;