Hudson Structured Capital Management

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.