Maidstone Insurance Company - Northwood Ventures

Company

Interboro is a personal lines property and casualty insurer offering homeowners and automobile insurance to residents of New York State through its Interboro Insurance and Maidstone Insurance subsidiaries. Interboro grew rapidly and entered new markets under Northwood ownership. In 2016, the company sold Interboro Insurance, its homeowners insurance unit, to a Florida-based insurance company. The remaining auto business is written through Maidstone Insurance Company.

Location

Mineola, NY

Sector

Manufacturing/Other

Position

Realized

Transaction

Northwood co-led the recapitalization of Interboro out of rehabilitation from the Liquidation Bureau of the New York State Insurance Department in 2007 and co-led a follow-on financing in 2008. In 2017, Maidstone was sold to a financial buyer.