Cayman Islands > Insurance/reinsurance
Insurance/reinsurance
Appleby specialises in advising on the establishment, regulatory compliance and business operations of insurance and reinsurance companies, as well as insurance managers and brokers based in offshore jurisdictions. Simon Raftopoulos is the 'effective' local insurance team leader. The practice acted for CVC Capital Partners in connection with its acquisition of Cunningham Lindsey Group, one of the world's largest insurance claims adjusters. In contentious matters it represented excess of loss insurer Houston Casualty Company in respect of an insurance claim pursued by Hyatt Regency Grand Cayman Resort's owners, that concerned hurrican damage and business interruption losses.
Maples and Calder' 'knows the law and has the right experience'. The practice includes corporate and regulatory work for Cayman based insurer/reinsurers, whether captives or otherwise; advising local insurers on Cayman insurance law matters; assisting in dispute resolution for insurance companies in Cayman; and advising special purpose insurance companies, such as catastrophe bond issuers and finite risk vehicles. The team represented Scottish Re, a Cayman incorporated and licensed global life reinsurance specialist with operating businesses in Bermuda, Ireland and the US, in its acquisition by a company indirectly owned by its controlling shareholders. Team head Tim Frawley is 'right to the point'; and John Dykstra is noted for catastrophe bond transactions.
Campbells' team leader Alan Craig is involved in the formation, licensing and ongoing operation of a large proportion of the captive insurance entities established in the Cayman Islands, as well as advising reinsurers established in, or re-domesticating to, the Cayman Islands; assisting foreign insurers participating in the domestic market; and advising in relation to insurance-related capital market products. Craig has a 'good business sense on his head and is very good to work with'. The team advised Pan American Assurance Group on the acquisition of the Caribbean and Central American business of ALICO. Litigation partner Shaun McCann is also a key contact.
Solomon Harris is known for captive insurance. The practice acted for a Florida-based insurance carrier in the establishment of several agency group captives that provide workers compensation coverage; and provided regulatory advice to a Cayman captive arising from its change of control. Paul Scrivener is team head. Senior associate Kay Carter's 'advice is practical and she gets the job done'.
Conyers Dill & Pearman advises on the formation and structuring of insurance and reinsurance companies - including captives - catastrophe bonds and insurance linked securities, insurance derivatives, securitisations using special purpose vehicles, re-domestications and insurance-related financial services. Litigation lawyers complement the insurance practice. Highlights included representing American International Group with respect to the sale of American Life Insurance Company's stock. Kevin Butler receives 'top-notch reviews'.
Mourant Ozannes is experienced in captive insurance; cell company structures; insurance transformers; establishing insurance and reinsurance companies; regulatory compliance and business operations; risk management structuring; and securitisation products. Richard de Basto is praised.
Thorp Alberga is 'forward looking and sophisticated'. The practice acts in a range of corporate, coverage, regulatory, litigation, arbitration, claims and insolvency matters. Ruth Hatt has a significant insurance and reinsurance practice in the Cayman Islands. Ian Huskisson joined from Reed Smith's London office; Smith has experience of contentious insurance matters.
Walkers provides legal, regulatory, licensing and taxation advice for the establishment, structuring and on-going operation of all forms of insurance vehicles. Philip Paschalides is 'extremely responsive, helpful and technically astute'; Ramesh Maharaj is also rated.