PremFina has secured a £350 million private securitisation facility, backed by HSBC and Waterfall Asset Management.
The company plans to use the new facility to fund £1.9 billion in premium finance volumes, with £1 billion already contracted. The financing is intended to support PremFina’s long-term growth strategy and improve funding efficiency.
Waterfall Asset Management UK is an investment adviser specialising in private credit and asset-based lending, with US$14.1 billion in assets under management.
Sharon Bishop (pictured above), chief executive of PremFina, said the transaction is a key development for the business and reflects confidence in its personnel, technology investment, and portfolio performance over the past three years.
“We’re proud to partner with HSBC and Waterfall — two highly respected institutions — as we scale our operations and expand access to flexible, tech-enabled premium finance solutions across the UK,” Bishop said.
“We are excited to partner with PremFina. The company’s strong underwriting processes, consistent performance, and innovative technology, position it well for continued growth,” Waterfall Asset Management UK director Mawgan Harris said.
PremFina’s financing capabilities were previously strengthened through a funding round in 2017, which raised US$36 million (approximately £27 million) from investors including Draper Esprit Plc, Rakuten’s venture capital division, Rubicon Venture Capital, Emery Capital, Thomvest Ventures, and Talis Capital.
The previous capital raised was aimed at accelerating the company’s technology development and market expansion efforts, laying the groundwork for future growth initiatives such as the current securitisation.
PremFina has also expanded its distribution through partnerships. In April, the company announced a collaboration with Ardonagh Advisory. The partnership is designed to deliver enhanced premium finance solutions, leveraging both firms’ networks and expertise to provide greater access to flexible financing options for clients across the UK insurance market.
What are your thoughts on this story? Please feel free to share your comments below.
