For immediate release
Contact: Lisa Strasser, 203 977 6006
Hudson Insurance Group Acquires Renewal Rights and Professional Lines Team from Validus Specialty Underwriting Services
Hudson Insurance Group (Hudson) today announced the completion of a business transfer agreement with Validus Specialty Underwriting Services, Inc. for the renewal rights transfer of a select portfolio of 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.
Hudson has experienced long-term and successful growth in both Management and Professional Liability lines of business and this acquisition further demonstrates the Company’s commitment to the Professional Liability market. Hudson President and CEO Christopher Gallagher stated, “Hudson continues to act swiftly and capitalize on opportunities that exist in the marketplace. This transaction accelerates our presence in the Financial Institutions market and we are very fortunate to bring Catherine Cossu and her colleagues on board.”
This new professional lines team brings deep experience and expertise across several disciplines including underwriting, actuarial, claims and legal. Ms. Cossu joins 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.
“I am pleased to welcome this highly experienced team to Hudson,” said Mr. Howard. “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.”
Ms. Cossu added, “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.”
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About Hudson Insurance Group
Hudson Insurance Group is a market-leading specialty insurer that offers a wide range of property and casualty insurance products to corporations, professional firms and individuals through retailers, wholesalers and program administrators. Headquartered in New York City with offices throughout the U.S. and in Vancouver, Canada, Hudson underwrites specialty primary and excess insurance on both an admitted and non-admitted basis. Its companies are rated A (Excellent) by A.M. Best, Financial Size Category XV.
Hudson Insurance Group is the U.S. Insurance Division of Odyssey Group Holdings, Inc., a leading global provider of reinsurance and specialty insurance. Odyssey Group is wholly-owned by Fairfax Financial Holdings Limited. For more information, visit hudsoninsgroup.com.