Specialist lines-focussed managing general agency Occam Underwriting has announced Hudson Structured Capital Management’s decision to become a majority shareholder.
Additional investment from HSCM, an asset manager specialising in the re/insurance and transportation sectors, is expected to help Occam expand into new lines via new talent acquisitions and upgrades to its various technology platforms.
As part of the expansion, Steve Hart joins Occam as Director and Head of Trade Credit, Political Risk, Surety and Terrorism reinsurance business.
Hart has more than 30 years’ industry experience and was previously at Vibe Syndicate Management, where he was Head of Specialty Reinsurance.
He has commenced building out a new business at Occam in each of these related product lines.
“I am delighted that HSCM has further demonstrated its tremendous support for the team at Occam with its move to become our majority shareholder,” said Occam’s Chief Executive Officer Mark Fisher.
“As evidenced by the recent announcement of our expansion into the renewable energy market, the additional investment provided will help enable the company to move forward at pace with its planned growth strategy.
“It is an exciting time for Occam, and I look forward to working with Steve Hart as he builds out our Trade Credit, Political Risk, Surety and Terrorism reinsurance business.”
HSCM Founder and Managing Partner Michael Millette added, “We are delighted to take a lead as Occam repositions its business into renewables on the energy side, and into trade credit and political risk. We are excited about additional opportunities that we are considering.”
Hart added, “I am delighted to have joined Occam during these challenging but exciting times in our industry.
“The current trading environment is not without its challenges, but the solid investment from Hudson and the combined underwriting expertise that Occam has acquired and continues to add to means we are primed and perfectly placed to develop our business in this next stage of its evolution.”
