Hudson Structured Capital Management Buys Majority Stake in MGA Occam

Occam Underwriting, the London-based specialist lines managing general agency, announced that Hudson Structured Capital Management (HSCM) has recently acquired a majority stake in the company.

HSCM, an asset manager specializing in the re/insurance and transportation sectors, has also made a further investment in Occam to enable the company to expand into new lines of complex risk by attracting further talent and upgrading the company’s technology platforms. HSCM is headquartered in Stamford, Conn.

As part of the expansion, Steve Hart has joined Occam as director and head of Trade Credit, Political Risk, Surety and Terrorism reinsurance business. Hart has more than 30 years’ industry experience. He was previously at Vibe Syndicate Management, where he was head of Specialty Reinsurance. Hart has commenced building out a new business at Occam in each of these related product lines.sursur

Occam, an independent MGA and Lloyd’s coverholder, specializes in space and energy risks. The planned growth and improved technology platforms will provide clients with access to wider markets and additional risks, said Occam.

On Aug. 2, Occam announced it had hired Oliver Litterick as head and director of Low Carbon Energy to build a re/insurance unit supporting the clean energy industry.

“I am delighted that HSCM has further demonstrated its tremendous support for the team at Occam with its move to become our majority shareholder,” commented Occam 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,” Fisher continued.

“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,” said Hart.

Source: Occam Underwriting

Topics Mergers & Acquisitions Insurance Wholesale