Hudson Structured Capital Management Ltd. (HSCM) – conducting its insurance business as HSCM Bermuda – has announced the launch of the HSCM Insurance Credit Strategy.
Concurrent with the launch, Security Benefit Life Insurance Company (SBL), subject to certain conditions, has committed $400 million of initial capital to HSCM Bermuda for the strategy.
In a press release, HSCM stated that the credit strategy will seek to originate and invest in medium-to long-term debt issued by insurance companies, and re/insurance distribution & service companies.
Additionally, the firm also confirmed that Rachel Bardon, in addition to her role as Partner and Deputy Chief Investment Officer, HCSM Bermuda, has been named Chief Investment Officer of the strategy.
Bardon, commented: “We believe that insurance debt continues to achieve an attractive risk premium due to the complexity of the investment. I am thrilled to be spearheading our continued growth in high quality debt for insurance related enterprises.”
“We are delighted to be expanding our partnership with Security Benefit. We have collaborated successfully across life insurance in the past and are excited to continue to work with the team on Insurance Credit,” said Michael Millette, Managing Partner of HSCM Bermuda.
“We look forward to continuing and growing our relationship with HSCM Bermuda. HSCM Bermuda’s debt sourcing capabilities across the insurance industry will complement our existing origination capabilities and present us with new investment opportunities to build on our industry leading returns,” commented said Joseph Wittrock, Chief Investment Officer for Security Benefit.
The launch of this credit strategy will play a significant role in expanding HSCM Bermuda’s presence, as it continues to build diversified sourcing capabilities across a variety of lines of business.
