Insurance premium finance provider PremFina has signed an agreement for a £350m private securitisation facility from HSBC and Waterfall Asset Management. The funding will support £1.9bn in premium finance volumes, with £1bn already contracted.

Sharon Bishop (pictured), CEO of PremFina, said: “This transaction represents a significant milestone for PremFina and a strong vote of confidence in our people, our investment in technology and our portfolio. 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.”

Mawgan Harris, managing director at HSBC, said: “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, added: “The company’s strong underwriting processes, consistent performance, and innovative technology, position it well for continued growth.”