HSCM form investing partnership with Sciemus

Make text smaller Make text larger

  • Joining Sciemus board: Tim Tetlow of HSCM Bermuda

    Joining Sciemus board: Tim Tetlow of HSCM Bermuda

  • Rick Welsh, CEO of Sciemus

    Rick Welsh, CEO of Sciemus


HSCM Bermuda, a two-year-old firm that invests in insurance-linked assets, has formed an investing partnership with a Lloyd’s managing agency Sciemus.

As part of the new partnership, Sciemus will be renamed Argon Underwriting, subject to regulatory approval from the UK’s Financial Conduct Authority. Sciemus, is a specialty Lloyd’s MGA in the space, power, renewable energy, cyber and mining industries.

HSCM Bermuda was founded by Michael Millette, a former partner in Goldman Sachs, who was a founding member of Goldman’s reinsurance structured finance group.

The company has offices in Stamford, Connecticut and Bermuda, and invests in reinsurance and insurance-linked assets across the life, health, property and casualty sectors.

As part of the investment, Tim Tetlow, HSCM Bermuda’s chief operating officer, is expected to join the board of Sciemus.

Rick Welsh, Sciemus’s chief executive officer, said the aim was to develop Argon into a globally recognised insurer of specialty risk.

“The increasing convergence between traditional insurance, reinsurance and the capital markets is creating an opportunity in core economic sectors that represents both traditional and emerging risk that is lightly correlated to property cat,” Mr Welsh said.

“Our approach to modelling and data science enables us to be more creative and dynamic in our risk transfer and distribution, particularly in industries such as space, power, renewable energy, cyber and natural resources.

“HSCM Bermuda shares this vision and we are excited about exploring these opportunities with them — particularly, in the burgeoning insurance-linked securities market.”

Mr Tetlow said: “HSCM Bermuda is proud to partner with Rick and his team as we share their vision that superior data analytics can be harnessed to produce superior returns, and that the convergence of capital markets and insurance will only continue.”

You must be registered or signed-in to post comment or to vote.

Published Sep 12, 2017 at 8:00 am (Updated Sep 12, 2017 at 12:19 am)

HSCM form investing partnership with Sciemus

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    Today's Obituaries