HSCM Bermuda enters investment partnership with Lloyd’s MGA Sciemus

HSCM Bermuda, a firm that invests in reinsurance and insurance-linked assets, has formed an investing partnership with specialty Lloyd’s managing general agency (MGA) Sciemus.

As part of the new partnership, Sciemus will be renamed Argon Underwriting, subject to regulatory approval from the Financial Conduct Authority. In addition, HSCM Bermuda’s chief operating officer, Tim Tetlow, will join the Board of Sciemus.

According to the statement, the invested capital will be used by London-based Sciemus to develop its Lloyd’s underwriting platform and to further expand its data and modelling expertise into other areas of specialty and emerging risk. Sciemus is a Lloyd’s MGA in the space, power, renewable energy, cyber and mining industries.

Sciemus CEO Rick Welsh commented: "I am thrilled to welcome HSCM Bermuda as a partner. Michael and Tim have outstanding reputations in the global re/insurance market and their industry knowledge and expertise will be invaluable as we develop Argon into a globally recognised insurer of specialty risk.

"The increasing convergence between traditional insurance, reinsurance and the capital markets is creating an opportunity in core economic sectors that represents both traditional and emerging risk that is lightly-correlated to property cat. Our approach to modelling and data science enables us to be more creative and dynamic in our risk transfer and distribution, particularly in industries such as space, power, renewable energy, cyber and natural resources. HSCM Bermuda shares this vision and we are excited about exploring these opportunities with them – particularly, in the burgeoning insurance-linked securities market."

Tetlow said: "HSCM Bermuda is proud to partner with Rick and his team as we share their vision that superior data analytics can be harnessed to produce superior returns, and that the convergence of capital markets and insurance will only continue."