Hudson Structured Capital Management
-
The fund is a continuation vehicle for five of HSCM's life insurance interests.
-
The year brought a degree of closure on the loss-hit years of 2017-2021, while the outlook remains changeable for ILS managers.
-
The fund had taken major losses on cat-related investments, including through Southeast primary carriers Weston and Southern Fidelity.
-
Bernard Opoku will replace Jeff Sangster as CFO effective 1 October.
-
The executive joined the company from Scor, where he helped to launch Scor P&C Ventures.
-
Hudson Structured Capital Management (HSCM) Bermuda has set up an insurance credit strategy seeded with $400mn of initial capital from Security Benefit Life Insurance Company.
-
Former Ariel Re executive Edouard von Herberstein was one of the founding team at HSCM and is leaving to pursue other opportunities.
-
HSCM Ventures partner Vikas Singhal will join the Inclined board.
-
UPC policyholders could be force-placed by their mortgage lender.
-
HSCM has had a majority stake in the company since 2020.
-
Despite capital infusions into the firm, the Florida insurer was unable to stave off receivership.
-
Southern Fidelity said until it could be sure of reinsurance capacity it could not bind cover, as renewals have been delayed.
-
The deal propels HSCM total AuM and capital commitments to above $4bn.
-
Part of the loan will be used to pay a $120mn dividend to HG Global equity holders.
-
InsurTech Buckle has expanded its offer across Maryland and Nevada.
-
He spent seven years at Arch Capital and will be working on HSCM’s reinsurance strategies.
-
The transaction reflects the evolution of the Weston Group and its plans to expand its coastal offerings across the US.
-
Foundation Capital, Revolution’s Rise of the Rest Seed Fund, Clocktower Technology Ventures, Sure Ventures, and several angel investors, also joined the seed funding round.
-
The charity made history this year with its issuance of the first ever humanitarian cat bond.
-
Matt Berdoff, Jason Braunstein and Wendy Wong-Tsang have joined the firm’s partnership.
-
The managing general agency is looking for new lines of business, having seen its cyber team and capacity provider depart ahead of renewals earlier this year.
-
The round was led by Telstra Ventures, with other funds involved including Hudson Structured Capital Management and ArcTern Ventures.
-
Existing investors including State Farm Ventures, Formation8 and Brewer Lane Ventures also participated.
-
Investors are seeking to take higher-attaching risks with pure peak peril deals in stronger demand.
-
Helios said the deal is part of a £60mn share offering to fund further Lloyd’s capacity acquisitions.
-
The ILS firm has previously invested with the company.
-
The deal gives life insurer and asset manager Eldridge the opportunity to take an equity stake in the future, with further capital commitments likely.
-
The move follows the company hiring new InsurTech partner Adrian Jones last month.
-
The ex-Scor staffer will work to expand HSCM’s InsurTech business and serve as managing director.
-
The vehicle raised $240mn in an offering priced at $10 a share.
-
The deal is the latest in a slew of recent blank check listings this year.
-
The Q4 figures represent an increase of 24% since July 2020.
-
The cyber insurance sector is set to grow to $20bn by 2025, the broker said.
-
It is expected that the transaction will close in the first quarter of 2021 and that Vault will retain its A- rating from AM Best.
-
The deal continues HSCM's progression into primary markets.
-
Southern Fidelity has struggled during a busy 2020 storm season because of its exposure to the Gulf states.
Most Recent
-
Louisiana Citizens bond Bayou Re upsizes 83% to $275mn
19 April 2024 -
Allstate pegs March pre-tax cat losses at $328mn
18 April 2024 -
PFZW’s ILS allocation drops 9% in Q1 to $8.3bn
18 April 2024