Gramercy Risk Holdings Acquires New York’s Executive Insurance Company

Gramercy Risk Holdings LLC, a Uniondale, N.Y.-based insurance holding company, has acquired Executive Insurance Company, a New York-domiciled admitted insurance company.

Following the acquisition, Executive will be renamed Gramercy Indemnity Company. Executive joins Gramercy Risk Management and Certus Claims Administration as operating companies under the Gramercy umbrella and will initially provide property and casualty reinsurance to business underwritten by Gramercy.

Gramercy was founded in 2014 by William and Matthew Fishlinger following the sale of The Wright Insurance Group to Brown & Brown. Formed as a blue-chip management platform, Gramercy provides managed services to insurance companies, brokers, managing general agencies, runoff companies and other risk financing vehicles.

Source: Gramercy Risk Holdings LLC