Hudson Structured Capital Management, the ILS, reinsurance and transportation finance investment firm established by ex-Goldman Sachs structured finance head Mike Millette, has added Jason Carne, who previously headed up ILS at KPMG Bermuda, to the advisory board of its Bermuda entity.
Carne is a well-known figure in the insurance-linked securities (ILS) market having worked at KPMG in Bermuda for almost 20 years as a Managing Director, during which time he founded and led their insurance-linked securities (ILS) practice.
Carne will join the advisory board of insurance and reinsurance investment specialist HSCM Bermuda Management Company, where he will focus on issues related to Valuation and Reinsurance.
“I am truly excited to be joining the Board of Advisors of Hudson Structured Capital Management Ltd. I have been following them with interest for a while now and I’m a firm believer that the next step for ILS is to bring a fuller spectrum of reinsurance risk and opportunities, including property, casualty and long term business, to the third party capital markets,” Carne commented on his appointment.
Carne also serves as a non-executive director for a number of Bermuda reinsurance companies, is a Fellow of the Institute of Chartered Accountants of England and Wales and a member of the Chartered Professional Accountants of Bermuda. He is also a Qualified Associate in Reinsurance.
Carne joins David Cash, the former CEO of Endurance Specialty Holdings, Ltd. and a current and founding board member of the Bermuda Business Development Agency, and Rich Carbone, former CFO of Prudential Financial and current Director for both E*Trade and Resolution Life, as Reinsurance Advisors to HSCM.
Michael Millette, Managing Partner of Hudson Structured Capital Management, Ltd., said; “Our Board of Advisors provides the firm with breadth and depth of experience and judgement that we rely upon. Jason is an exceptional addition to the team.”
As we wrote earlier today, Hudson Structured completed a novel casualty ILS transaction, working alongside MultiStrat. The transaction enables Hudson Structured to access the returns of a book of workers’ compensation insurance.
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