HSCM Bermuda, part of Hudson Structured Capital Management, will take a majority stake in Southern Fidelity Insurance Company (SFIC) and its affiliated entities.
HSCM expects to make its investment on or around November 12, 2020, making a capital injection into SFIC. It will look to expand SFIC’s footprint in the Florida, Louisiana and South Carolina homeowners’ insurance markets.
Edouard von Herberstein, partner and chief underwriting officer at HSCM Bermuda, noted that 2020 has been a challenging year for homeowners’ insurers in the Southeast US.
James Graganella, chief executive officer of SFIC, said: “This alliance will strengthen Southern Fidelity’s position in the marketplace.”
HSCM Bermuda, Hudson Structured Capital Management, Edouard von Herberstein, Southern Fidelity Insurance Company, SFIC, James Graganella