Cornell Capital, a private investment firm, and Hudson Structured Capital Management, an asset manager focused on alternative investments, agreed to acquire a majority stake in Vault, a provider of personal insurance to high-net-worth clients, from Allied World, a provider of insurance and reinsurance solutions. Financial terms were not disclosed. The transaction is expected to close in the first quarter of 2021, subject to the receipt of required regulatory approvals and other customary closing conditions. "In less than three years, Vault has progressed from a dynamic startup to a fast-growing disruptor. Our team brings significant experience partnering with and growing leading insurance companies, and we look forward to working closely with Scott, Charles, and the Vault team to execute on our shared vision for continued growth. Moving forward, Vault has the potential to become an even stronger, more nimble competitor, capable of reshaping the sector, attracting and retaining top talent, and achieving market leadership in high-net-worth personal insurance," Henry Cornell, Cornell Capital Founder and Senior Partner.