Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Hudson Structured backs insurtech Kin again, participating in $33m round


Hudson Structured Capital Management (HSCM), the reinsurance, insurtech, insurance-linked securities (ILS) and transportation focused investment manager, has participated in a new funding round for homeowners insurtech Kin, as the company secured a $33 million extension to its Series D.

hudson-structured-capital-management-logoHudson Structured Capital Management has a long history of alignment with Kin Insurance, having first invested in the insurtech back in 2019 through HSCM Bermuda, when it participated in a $47 million funding round for the company.

Hudson Structured further demonstrated its commitment to Kin’s business model by participating in a $35 million Series B funding round for Kin, in 2020.

Which was followed by the investment manager co-leading a $64 million Series C investment round for Kin in 2021 and then participated in Kin’s Series D earlier in 2022 as well.

The asset manager then participated in a $145 million debt capital raise for Kin as well.

This $33 million Series D extension for Kin saw the funding round led by QED Investors, while returning investors Geodesic Capital, Allegis Capital, Hudson Structured Capital Management Ltd. (doing its reinsurance business as HSCM Bermuda), and Alpha Edison all participated as well.

In total, Kin has now raised roughly $265 million in equity funding to date.

Kin said the funding support from investors like Hudson Structured has helped it “produce systematic, capital efficient growth”, with over $370 million in premiums expected to be delivered and “the corner to positive operating income” now said to be turned.

Kin said it is “also succeeding in geographies where other legacy insurers are either leaving or stalling growth.”

“Investors are putting a premium on growth in the context of profitability, and we’re growing exceptionally fast because we’re able to profitably serve customers who aren’t being well served by incumbents,” explained Sean Harper, CEO of Kin. “Because we’re already profitable and well funded, we didn’t need to raise right now, but the additional funding strengthens our liquidity position and can be used to fuel more growth. Also, we were able to raise without too much effort, at the same share price, while so many other technology companies are having trouble securing capital.”

“Kin is structured to scale and skillfully manage the entire insurance value chain, which is why we’re so excited to double down on our investment in this truly seminal business,” added Amias Gerety, partner at QED. “By leveraging advanced analytics and led by an experienced and world-class management team, Kin is able to offer terrific service at an affordable price. Their direct-to-consumer approach and vertically integrated value-added chain assures that customers receive a best-in-class experience, even in markets that other insurers are pulling out of. We believe that Kin will be known as the defining company of the insurtech 2.0 era.”

HSCM continues to support Kin with growth capital, showing that it remains committed to the insurtech’s business model.

Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.