Artemis can reveal that specialist ILS manager Twelve Securis is the seller of a seasoned portfolio of life insurance-linked securities (ILS) that Hudson Structured Capital Management Ltd. (HSCM) is acquiring through the launch of a new fund, with this deal demonstrating the increasing sophistication of market players and growing maturity of the ILS sector.
Yesterday, we reported that Hudson Structured Capital Management Ltd. (HSCM), through the HSCM Bermuda unit, has raised $110 million to launch a new investment fund that has been specifically formed to acquire a seasoned portfolio of life insurance-linked securities (ILS).
HSCM explained that the HS Sawmill LP fund has been raised to fund the acquisition of a seasoned life ILS portfolio, as well as additional follow-on reserves, which we said at the time suggested an acquisition from another specialist manager of, or investor in, insurance and reinsurance linked assets.
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