BRADENTON, Fla.--(BUSINESS WIRE)--SUNZ Insurance Company, a large deductible workers’ compensation carrier, today announced that Steven F. Herrig, CEO of SUNZ Holdings, recently completed an $8 million capital contribution to the carrier. SUNZ Holdings is wholly owned by Herrig and is the parent company of SUNZ Insurance Company. This represents the third installment of a $13 million aggregate capital infusion over the past three months, and is expected to bolster statutory surplus to approximately $30 million as of March 31, 2017. The capital contribution allows the executive team of the carrier to focus on its proposed future growth initiatives in the PEO, Staffing and Large Employer marketplace.
Herrig, CEO of SUNZ, stated, “A strong financial foundation allows SUNZ to continue delivering our workers’ compensation services, to build an infrastructure that provides improved ways to meet policyholders’ needs and expectations, and broaden the reach of our sales. This will provide SUNZ with the necessary money to execute the next chapter of the carrier’s business plan.” Herrig also said, “SUNZ has had exceptional growth over the past four years and 2017 is evolving into an exciting and significant year for SUNZ. With a formidable leadership team in place, I’m looking forward to the continued profitability for many years.”
“Steve Herrig continues to demonstrate his commitment to the carrier’s current operations and the future national growth strategy envisioned for SUNZ with his financial support. It confirms Steve’s confidence in our staff, their ability to deliver results to support our value proposition, and the enhancement of technology platforms,” said Therese A. Stevens, President of SUNZ Insurance Company.
ABOUT THE COMPANY
SUNZ Insurance (sunzinsurance.com), established in 2005, was founded specifically to provide large deductible workers’ compensation solutions for Professional Employer Organizations, Staffing Agencies and large companies. SUNZ Insurance Company is a dedicated long-term business partner - not just a workers' compensation insurance carrier. We are a partner who delivers innovative and personalized workers' compensation solutions that protect the policyholder’s business and their employees. Our philosophy is simple. We deliver innovative and unique workers’ compensation insurance solutions and related products that fit each policyholder’s identified business needs and goals. By meeting with each policyholder to discuss their business culture and structure, we can provide hands-on, personalized services and flexibility that is unsurpassed by other insurance carrier.