Hudson Structured Capital Management
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Major cat reinsurance losses are unlikely without over-reaching judicial action, the HSCM Bermuda leader argued. -
The syndicate provides the ILS manager with access to high net worth insurance risk.
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The investment comes as R&Q positions itself to take advantage of pandemic-related market dislocation.
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Legacy and bank financing offers have yet to take off as competitive concerns hold some deals back.
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But ILS market exposure to contingency covers is limited, CUO von Herberstein said.
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As of 30 June last year, the fund had deployed $40mn of its committed funds to HSCM Bermuda.
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Christopher Harris, who also held senior positions at Montpelier Re, has made the move to Hudson Structured Capital Management's advisory board.
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Bold Penguin has raised $32mn from a series B funding round.
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The investment comes as Hudson Structured surpassed $2bn of assets under management.
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The InsurTech uses satellite imagery to provide underwriters with data on individual properties.
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The trio of companies have all given their support to the auto start-up, with Third Point Re also providing reinsurance.
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Speaking at the Trading Risk Rendez-Vous in New York, Hudson Structured Capital Management’s Michael Millette said modelling misses helped the reload last year.
