Hudson Structured Capital Management acquires majority stake in Occam
17 Aug 2021|
Occam Underwriting, the specialist lines-focussed Managing General Agency (“MGA”), is pleased to announce that Hudson Structured Capital Management Ltd. (doing its re/insurance business as HSCM Bermuda) has recently completed an investment to become the majority shareholder in the company.
The investment from HSCM Bermuda, an investment manager specialising in the re/insurance sector, will help Occam to expand into new lines of complex risk by attracting further talent and upgrading the company’s technology platforms.
As part of the expansion, Steve Hart has joined Occam as Director and Head of Trade Credit, Political Risk, Surety and Terrorism reinsurance business. Mr. Hart has more than 30 years’ industry experience. He was previously at Vibe Syndicate Management, where he was Head of Specialty Reinsurance. Mr. Hart has commenced building out a new business at Occam in each of these related product lines.
Occam, a Lloyd’s of London coverholder, currently specialises in space and energy risks. This planned growth and improved technology platforms will provide clients with access to wider markets and additional risks.
On August 2, Occam also announced it had hired Oliver Litterick as Head and Director of Low Carbon Energy to build a (re)insurance unit supporting the clean energy industry.
“I am delighted that HSCM Bermuda has further demonstrated its tremendous support for the team at Occam with its move to become our majority shareholder,” said Occam Chief Executive Officer Mark Fisher. “As evidenced by the recent announcement of our expansion into the renewable energy market, the additional investment provided will help enable the company to move forward at pace with its planned growth strategy. It is an exciting time for Occam, and I look forward to working with Steve Hart as he builds out our Trade Credit, Political Risk, Surety and Terrorism reinsurance business.”
“We are delighted to be adding to our investment in Occam as they reposition the business into renewables on the energy side, and into trade credit and political risk,” added HSCM Bermuda Managing Partner Michael Millette. “As the team continue to grow their presence in the Lloyd’s market, we are excited to be growing our partnership.”
“I am delighted to have joined Occam during these challenging but exciting times in our industry,” said Mr. Hart. “The current trading environment is not without its challenges, but the solid investment from Hudson and the combined underwriting expertise that Occam has acquired and continues to add to means we are primed and perfectly placed to develop our business in this next stage of its evolution.”
For more information contact Occam Underwriting, experts in complex risk solutions.