Hudson Structured leads $500mn InsurTech quota share

Michael Millette's Hudson Structured Capital Management has
taken an 80 percent line on a quota share for on-demand car
insurance startup Metromile in a $500mn first-of-its-kind deal.
The seven-year placement, structured by JLT Re, sees Hudson and
Mapfre Re, which has a 10 percent line, pay higher ceding
commissions in the earlier years to offset the initial acquisition
costs for the startup carrier, The Insurance
Insider understands.
The deal effectively offers San Francisco-based Metromile a c