Hedgehog Risk, a leading provider of specialist sports and prize insurance, has announced that SIG Insurance Holdings, LLC (SIG Insurance), part of the Susquehanna International Group of Companies (Susquehanna), one of the largest privately held financial institutions and quantitative trading firms in the world, has acquired a substantial interest in their company.

Since its inception in 2013, Hedgehog Risk has been amongst the most prominent group of underwriters in London for all Contractual Bonus and Prize Indemnity business. The firm's focus is to work with sponsors, teams, and agencies to help structure and insure performance bonus incentives in player/team contracts, protect performance-linked revenues, as well as provide coverage for promotions linked to sporting events.

Hedgehog Risk's innovative model, as a direct market with access to global specialty (re)insurance markets, allows the firm to take a proactive approach, working with clients in a consultative capacity. The ability to underwrite in-house allows the firm to not only cover risk, but also help shape the structure of deals to maximize client benefit.

"Our collaboration with SIG Insurance is a significant moment in our journey as it will help fuel growth across key markets and allow us to move into new lines of business in the sports and entertainment insurance sectors," said Luke de Rougemont, managing director of Hedgehog Risk. "We're delighted to be working with the SIG Insurance team because ultimately it means we will be better able to meet the needs of our clients."

While Hedgehog will be working in collaboration with SIG Insurance's efforts in the United States, the funding provided by SIG Insurance will also facilitate Hedgehog Risk's expansion and focus in both the UK and Europe. This broader platform will allow Hedgehog Risk to develop a deeper and wider-ranging pricing capability across all sports disciplines. It will also increase the capacity to cover larger and longer-term risks and provide them the ability to structure new products with creative solutions.