Everest Re and Hudson Structured in insurtech partnership

Bermuda-based Everest Re Group and Hudson Structured Capital Management (HSCM) have entered into a strategic agreement that will see the reinsurer invest across several of HSCM’s investment funds, including as the anchor investor in HSCM’s new insurance technology strategy that will launch in early 2018.

The companies said that they will work together to identify and capitalize on trends and themes across the spectrum of insurtech opportunities.

Dominic Addesso, CEO of Everest Re Group, said: “We look forward to working with HSCM to continue our efforts to drive innovation in the re/insurance market. We believe HSCM Bermuda’s unique skills will enhance our development of creative solutions and leverage the full strength of the Everest Re Group across the spectrum of reinsurance, insurance, and alternative capital.”

Vikas Singhal who leads HSCM Bermuda’s insurtech strategy, commented: “Insurtech is evolving quickly and offers a strong pipeline of opportunities that will bring fundamental change to the re/insurance experience. We expect that through our collaboration with Everest we will be able to improve the likelihood of success and returns for the companies in which we invest.”