Occam Underwriting, which has been majority owned since 2021 by Hudson Structured Capital Management, carrying out its re/insurance business as HSCM Bermuda, is to come under new control.

Brown & Brown has agreed to acquire 100 per cent of the share capital of the London-based managing general agent and Lloyd’s cover holder.

HSCM made its initial investment in the business in 2017.

The deal has received regulatory approval, and the consideration is undisclosed.

Occam’s business is made up of two specialist MGAs focused on international space (Occam Underwriting) and UK terrorism and property (Beech Underwriting).

Occam will become part of Brown & Brown Europe’s MGA division, which includes Camberford Underwriting and Plum Underwriting, and will be led by Clive Nathan.

Phil Duffin, director of space and aviation, will continue to lead the space division supported by space underwriter Jack Kenneally.

Senior terrorism underwriter Andrew Woodhams, supported by senior property underwriter Matt Gates, will also continue in their leadership roles within Beech Underwriting.

Michael Millette, managing partner of HSCM Bermuda, said: “We are very proud of the specialist MGA business Occam has created.

“We believe that Brown & Brown is the best possible home for Occam to enable the business to make the most of its considerable experience in the next phase of its story.

“Brown & Brown will be excellent custodians for the business, the team, our customers and its people.”