HSCM backs $150m credit facility for White Mountains’ HG Global

Re/insurer  Hudson Structured Capital Management (HSCM Bermuda) has backed a new $150 million credit facility for White Mountains Insurance Group’s bond insurer platform HG Global.

Security Benefit Life Insurance Company has also participated in the 10-year term loan credit facility with HSCM.

The proceeds of the loan will be used to pay a $120 million dividend to White Mountains and the other equity holders of HG.

The facility received an investment grade rating of BBB from Kroll Bond Rating Agency. The facility does not impact the reinsurance obligations of HG Re.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.