Hudson Structured Capital Management Ltd. (doing its insurance investment business as HSCM Bermuda), the insurance-linked securities (ILS), reinsurance- and transportation- focused investment manager, was a lead backer of insurance giant AIG’s recent launch of a new Lloyd’s syndicate.
As we explained earlier this week, American International Group, Inc. (AIG) officially launched Lloyd’s Syndicate 2019, which is set to be the largest ever launch in that market with a target for around $1 billion of gross premiums to be written.
Syndicate 2019 will exclusively provide reinsurance capital to support AIG’s Private Client Group (PCG) portfolio of risks, a division of the insurance giant that holds a leading market position in the attractive to access High Net Worth segment.
As we said in our article, this should be an attractive opportunity for the third-party investors backing the syndicate, among which it now transpires is Hudson Structured Capital Management (through HSCM Bermuda).
Hudson Structured said that, through its funds and clients, HSCM Bermuda has provided lead capital support for the newly launched Lloyd’s Syndicate 2019.
“We are delighted to invest in Syndicate 2019,” explained Michael Millette, Managing Partner of HSCM, “and are excited to support this pioneering and innovative syndicate that provides unique access to the high-net worth market through Lloyd’s.”
Syndicate 2019 represents an opportunity to access the returns of high-net worth personal lines insurance aligned with global market leader AIG, so is a unique opportunity for investors.