Bermuda > Insurance/reinsurance
Appleby's 'impressive and experienced' Bermuda insurance team advises on the establishment, regulatory compliance and business operations of insurance and reinsurance companies, as well as insurance managers and brokers based in offshore jurisdictions. The team served as Bermuda counsel for Kizuna Re, the Bermuda special purpose insurer, which issued a $160m catastrophe bond to collateralise a reinsurance agreement that covered Japanese typhoon and windstorm risks. It also served as Bermuda counsel for Holpon Insurance, the Bermuda special purpose insurer, which issued €33m worth of notes to a handful of large investors, collateralising an insurance arrangement with MyLotto24 that protected against lottery winnings in their games exceeding a pre-set amount over a three year period, such arrangement being innovative because it put a cat bond-type structure in place in a completely new risk arena. Group leader Tim Faries specialises in non-contentious corporate insurance work. Brad Adderley specialises in insurance and reinsurance transactions; the structuring of segregated accounts transactions; private and public offerings; registrations on the NYSE; amalgamations of US corporations with Bermuda exempt companies; and the formation and structure of life companies and rent-a-captive companies. Janita Burke and Alan Bossin are noted for non-contentious insurance work, and John Wasty is group team leader of the insurance and reinsurance disputes team.
Conyers Dill & Pearman is deeply experienced in insurance transactional work, litigation and insurance regulatory advice. The practice acted for over half of all the insurance companies formed in Bermuda in 2011, and was particularly dominant in the recent upsurge of Bermuda-based insurance-linked securities transactions. Highlights included advising on the formation of Third Point Reinsurance and its wholly owned subsidiary, marking the first significant Class 4 insurer to set up in Bermuda in over a year. David Doyle is 'responsive, professional and business oriented'.
Attride-Stirling & Woloniecki has particular experience in relation to proposed new incorporations; insurance and reinsurance policy wording; complex insurance and reinsurance contracts; and advising clients in transactions involving segregated accounts companies, risk swaps, catastrophe bonds and credit derivatives. Neil Horner is recommended.
Marshall Diel & Myers's Katie Tornari is recommended for her management of the firm's (re)insurance disputes. Tornari has significant experience in handling large insurance coverage disputes in arbitration and, in particular, disputes concerning the Bermuda form. She also has extensive experience of arbitrations that have involved complex London market issues for both solvent and insolvent reinsurance companies. The firm has acted for clients in the live market and clients that are in run-off, including Lloyd's corporate members.
Sedgwick Chudleigh has a busy contentious insurance/reinsurance practice, and also advises regularly on non-contentious matters, including structuring/restructuring, underwriting, contract, and regulatory issues. The team represented several Bermuda insurers in relation to claims presented under Bermuda Form general liability policies, including three matters currently in arbitration. The practice also assisted three Bermuda insurers in connection with anti-suit injunctions, obtained from the Bermuda court, to restrain US court proceedings brought against insurers in breach of arbitration provisions in their policies.