Hudson Structured Capital Management
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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.
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The ILS firm has previously invested with the company.
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The deal gives life insurer and asset manager Eldridge the opportunity to take an equity stake in the future, with further capital commitments likely.
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The move follows the company hiring new InsurTech partner Adrian Jones last month.
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The ex-Scor staffer will work to expand HSCM’s InsurTech business and serve as managing director.
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The vehicle raised $240mn in an offering priced at $10 a share.
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The deal is the latest in a slew of recent blank check listings this year.
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The Q4 figures represent an increase of 24% since July 2020.
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The cyber insurance sector is set to grow to $20bn by 2025, the broker said.
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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.
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The deal continues HSCM's progression into primary markets.
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