Odyssey's Hudson acquires renewal rights of Validus business
Hudson Insurance Group, the US insurance arm of Odyssey Group Holdings, has acquired the renewal rights and professional lines team from Validus Specialty Underwriting Services.
The acquired portfolio includes miscellaneous professional liability, financial institutions liability and management liability policies.
The agreement also includes the transfer of ten employees to Hudson effective January 1, 2021, including underwriting, actuarial, claims and legal experts.
Catherine Cossu will join Hudson with more than 25 years of experience in professional lines. As senior vice president, she will serve as the head of the financial institutions and professional liability business units, which operate under the leadership of Trevor Howard.
Hudson said the acquisition represents its commitment to the professional liability market.
“Hudson continues to act swiftly and capitalize on opportunities that exist in the marketplace," said Hudson president and CEO Christopher Gallagher. "This transaction accelerates our presence in the Financial Institutions market and we are very fortunate to bring Catherine Cossu and her colleagues on board.”
Howard added: “I am pleased to welcome this highly experienced team to Hudson. 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.”
Cossu commented: “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.”
