UK insurance premium finance provider PremFina has agreed a new £350m securitisation facility with support from HSBC and Waterfall Asset Management.
The funding will be used to support £1.9bn in premium finance volumes, with £1bn already contracted.
The company was advised by SpecFin Capital.
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“This transaction represents a significant milestone for PremFina and a strong vote of confidence in our people, our investment in technology and our portfolio,” said Sharon Bishop (pictured), chief executive of PremFina.
“The transaction reflects our impressive performance over the last 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.”
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Mawgan Harris, managing director at HSBC, said: “We are delighted to support PremFina in this transaction. The facility reflects our continued commitment to backing high-quality UK businesses with scalable and sustainable funding platforms in the specialist finance sector.”
Krishin Uttamchandani, director at Waterfall Asset Management UK, 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.”
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