FSIM Appoints Comp West Issuing Carrier for Specialist Workers Comp Program in California

NEW YORK, NY--(Marketwired - Mar 17, 2015) -  Food Service Insurance Managers (FSIM), a California-based program administrator that provides workers compensation insurance to agricultural and food related industries, has appointed CompWest as issuing carrier for a specialized program that focuses on grocery stores, vineyards, and related businesses.

Stonybrook Capital, LLC, served as exclusive financial advisor to FSIM on the transaction. CompWest, a subsidiary of the Accident Fund Insurance Company of America, provides workers compensation insurance in California and other western states. CompWest's parent, Accident Fund, provides workers comp insurance to businesses in 19 mid western and southeastern states.

"We think very highly of FSIM expertise, integrity, and long-standing commitment to excellence in the food and agricultural sector. CompWest will provide a strong, A-rated market for the new FSIM program," said Joseph Scheerer, Principal and Managing Director of Stonybrook.

"Stonybrook has been a loyal partner of FSIM for years. We are very excited about the CompWest appointment and appreciate Stonybrook's role in bringing us together," said Bridget C. Halvorson, FSIM CEO and Chairperson.

Stonybrook Capital is a strategic advisory and investment banking firm located in New York that specializes exclusively on the insurance and reinsurance industry. The Company advises clients on buy-and-sell-side mergers and acquisitions, restructuring, valuation, market finding and analysis of strategic alternatives, among others.