Everest Re Group and Hudson Structured Capital Management have entered into a strategic agreement that will foster close collaboration across several different areas of activity in the (re)insurance sector.
HSCM, conducting its (re)insurance asset management business as HSCM Bermuda Management Company, and Everest said that they expect to work together on co-investment opportunities and transactions that combine HSCM’s intellectual and monetary capital with Everest’s global underwriting expertise, broad risk appetite, strong balance sheet, and highly-rated reinsurance and insurance companies.
Everest will invest across several of HSCM’s investment funds, including as the anchor investor in HSCM’s newly-created insurance technology strategy that will launch in early 2018. The two firms will work together to identify and capitalise on trends and themes across the spectrum of InsurTech opportunities.
“We look forward to working with HSCM to continue our efforts to drive innovation in the (re)insurance market” stated Dominic J. Addesso, president and chief executive officer of Everest Re Group. “We believe HSCM Bermuda’s unique skills will enhance our development of creative solutions and leverage the full strength of the Everest Re Group across the spectrum of reinsurance, insurance, and alternative capital.”
“We are excited to be working with a leading global (re)insurance company with the breadth and depth of capabilities that Everest possesses,” said Michael Millette, managing partner of HSCM.
Everest Re Group, HSCM, strategic, agreement, collaboration