Hudson Insurance Group has secured an agreement with Validus Specialty Underwriting Services to transfer the renewal rights of a portfolio of Miscellaneous Professional Liability, Financial Institutions Liability and Management Liability policies.
The agreement also includes the transfer of ten employees to Hudson.
The new team is led by senior vice president Catherine Cossu, who brings over 25 years’ experience in professional lines.
She will serve as the head of the Financial Institutions and Professional Liability business units, which operate under the leadership of Trevor Howard.
“Hudson has experienced long-term and successful growth in both Management and Professional Liability lines of business and this acquisition further demonstrates the Company’s commitment to the Professional Liability market” said Christopher Gallagher, Hudson President and Chief Executive Officer.
“Hudson continues to act swiftly and capitalize on opportunities that exist in the marketplace. This transaction accelerates our presence in the Financial Institutions market and we are very fortunate to bring Catherine Cossu and her colleagues on board.”
“I am pleased to welcome this highly experienced team to Hudson,” said Howard added.
“There will be many opportunities that stem from this acquisition and I look forward to demonstrating all that Hudson has to offer, especially to our new clients and brokers in the Financial Institutions market.”
Commenting on the announcement, Cossu said “We are all excited to become a part of this long-established and respected franchise, and I am confident that our current clients and business partners will see the value in this transaction.
“We look forward to working in collaboration with our Hudson colleagues to take advantage of the current marketplace, which while challenging, provides great opportunity for a solutions-oriented underwriting approach.”