By Chris Munro

April 7 - (The Insurer) - Industry entrepreneur Simon Hudson has launched an MGU unit on the Mission Underwriters platform, initially offering a wind deductible buyback program for high-value homeowners backed by capacity from Lloyd’s.

Hudson announced on LinkedIn on Tuesday that he had joined Altamont Capital-backed Mission Underwriters as program head of a new unit called Hudson Series.

Sources have since told this publication that Hudson Series is business class agnostic, with Hudson looking to draft in talented underwriters from across the market if they can bring a proposition that makes sense for the MGU, its capital providers and capacity backers.

Hudson Series' debut offering is a wind deductible buyback program for high-value homeowners. Capacity for the program is provided by unnamed Lloyd’s syndicates.

“Simon has considerable experience in the marketplace and we're excited to launch this wind deductible buyback program for high-value homeowners with him,” Adam Erickson, Mission Underwriters' chief strategy officer, said in a statement to Program Manager.

“The product will enter the marketplace as soon as possible through our valued partners at Lloyd's who we're thrilled to work with. This is also a great opportunity for Mission to continue building our ecosystem of innovative products,” Erickson added.

Mission Underwriters was founded in 2021, with a strategy of building MGUs and program administrators around underwriters.

The company, which is led by CEO Jim Dwane, provides entrepreneurial underwriters with the back-office support, and in some instances capacity, to launch an MGU or program administrator.

It now has more than 25 MGUs/program administrators operating on its platform.

New York-based Hudson spent the past year leading Hudson Re Intermediaries.

His career includes time at West Point Insurance Services and reinsurance broker Atlantic Intermediaries, along with more than four years at RFIB Americas, where he served as a managing director.

He had joined London-based broker RFIB in 2016 with the launch of its Americas platform, which brought together existing Bermuda operations and U.S.-based Gracechurch Intermediaries.

Prior to RFIB Americas, Hudson was a senior vice president at reinsurance broker Holborn Corporation, while his career also includes time at Guy Carpenter and Collins. He was also a founding partner of medical professional liability MGU Sapphire Blue.