HSCM launches Bumblebee to manage its collateralised reinsurance activities
Hudson Structured Capital Management (HSCM) has unveiled Bumblebee Re, a special purpose insurer headquartered in Bermuda.
Bumblebee brings HSCM’s collateralised reinsurance cell-formation business in-house and is intended to facilitate crisp and efficient execution of its collateralised reinsurance activities.
Bumblebee Re, which has received approval from the Bermuda Monetary Authority, is led by Edouard von Herberstein, partner and chief underwriting officer at HSCM Bermuda.
von Herberstein noted HSCM Bermuda has transformed over 90 reinsurance contracts across all lines of business into investable securities in the last four years. “We believe Bumblebee will be a catalyst for us as we continue to improve processes internally and elevate our level of service to our investors and cedants alike,” he said.
Michael Millette, managing partner of HSCM Bermuda, serves on Bumblebee’s board of directors and advises it on business development.
