Life insurance premium finance provider Gracie Point has secured $50m in funding to drive expansion.
The fundraising has been led by Hudson Structured Capital Management, which carries out its re/insurance operations as HSCM Bermuda.
HSCM Bermuda managing partner Michael Millette said: “The opportunity to build a global premium finance company in the life insurance space that is connected to the capital markets is one that we think will fundamentally shift how life insurance is bought and sold, and we have enjoyed our many year partnership with Gracie Point who we view as the market leader in the space.”
The latest funding marks the third capital raise of the firm.
With the new funds, Gracie Point intends to enter Canada as well as expand its presence in the US and Asia.
The firm also plans to strengthen its global funding capabilities using the fresh capital.
Gracie Point chairman Harish Raghavan said: “Gracie Point is uniquely qualified to provide flexible and innovative financing solutions in the global premium finance market.
“This latest round of capital allows us to continue our rapid growth and expand our platform in the United States, Canada and Asia.”
Gracie Point has branches in New York, Toronto as well as Hong Kong.