Hudson buys majority stake in specialist MGA

17-08-2021

Hudson buys majority stake in specialist MGA

Steve Hart, director & head of trade credit, political risk, surety & terrorism reinsurance business, Occam

Hudson Structured Capital Management has bought a majority stake in Occam Underwriting, an MGA focused on specialist-lines.

The Bermuda-based asset manager will make further investments in Occam and support its expansion into new areas of complex risk. Occam currently specialises in energy and space risk.

Hudson’s support will include upgrading the company’s technology and attracting new talent.

Steve Hart is the first such hire and joins Occam as director and head of trade credit, political risk, surety and terrorism reinsurance business.

He has over 30 years’ industry experience and was most recently head of speciality reinsurance at Vibe Syndicate Management.

Earlier in August, Occam hired Oliver Litterick as head and director of low carbon energy to build a (re)insurance unit to support the growing clean energy industry.

Hudson founder and managing partner Michael Millette said: “We are delighted to take a lead as Occam repositions its business into renewables on the energy side, and into trade credit and political risk.

“We are excited about additional opportunities that we are considering.”

Hudson, Occam, Acquisitions, Appointment, Specialty, Insurance, Reinsurance, Steve Hart, Oliver Litterick, Michael Millette, North America

Bermuda Re