Rising Stars

Insurance/reinsurance in Bermuda


The specialised insurance and reinsurance practice at Appleby offers counsel on a wide array of insurance vehicles, with expertise in significant capital raisings, hybrid transactions, insurtech implementation, and new registrations. Characterised by its willingness to ‘be innovative and push the boundaries of what’s possible’, Brad Adderley leads the practice, handling insurance matters with a focus on ILS, alternative and collateralised reinsurance investment transactions. Alan Bossin specialises in insurance sector M&A, including capital raisings, securitisations, longevity issues and risk transference transactions, while Tim Faries excels in public and private insurance company capital raisings and public listings. The team also includes Matthew Carr, who advises on captives and catastrophe bonds for special purpose insurers, and commercial insurers, and Gary Harris, who specialises in M&A and risk transfer transactions.

Practice head(s):

Brad Adderley

Other key lawyers:

Alan Bossin; Tim Faries; Matthew Carr; Gary Harris; Josephine Noddings


‘Appleby is the foremost legal firm in Bermuda, bar none. If you have a large or high-profile deal there is no better place to go, and no safer place to go.’

‘Brad Adderley is my most competent, proactive, and trusted counsellor. He knows the insurance industry inside and out and is always willing to be innovative and push the boundaries of what’s possible. I recommend him wholeheartedly and without reservation.’

‘Gary Harris is an exceptional partner. He is hardworking and is unbelievably responsive and thoughtful. His advice is always pragmatic and useful, and most importantly, he does not waste my time. One of the best I have ever worked with, could not recommend more highly.’

‘Strong world view beyond just Bermuda and strong dedication to client service. A real desire to understand clients’ business at a more granular level to provide customised, expert service at all levels.’

‘Brad Adderley and Gary Harris are terrific. Tireless effort and great substantive experience both in Bermuda and more broadly.’

Key clients

Kuvare Holdings

African Risk Capacity Ltd

AUB Group Limited

Phoenix Re Limited

Meanwhile Services (Bermuda) Limited

Nascent Re Ltd.


HRS Management, LLC


Work highlights

  • Acted as Bermuda counsel on the establishment of Meanwhile Services (Bermuda) Limited.
  • Acted as Bermuda counsel to HRS Management, LLC on the formation, registration and investment into a new class E reinsurer, AeBe ISA Ltd.
  • Acting for AUB Group which has entered into an agreement with sellers Odyssey Investment Partners to acquire 100% of Tysers for A$880m.


The insurance team at Conyers utilises its ‘outstanding command of Bermuda regulation’ to sustain its position in the Bermudian market, advising a large client base of commercial insurers and reinsurers, special purpose insurers and captive insurers. Practice head Charles Collis has specialist expertise in corporate and regulatory matters, with over 30 years’ experience advising clients on IPO, regulatory, licensing and capital raising activities. Seasoned legal director Sophia Greaves is noted for her knowledge of the life insurance sector, and has experience in advising on regulatory transactions for both local and exempt companies. Other key contacts at the firm include Alexandra Macdonald, who is an expert in advising on the establishment and regulation of captive insurers; Jacqueline King, a specialist in the licensing and regulation of commercial insurance companies, and Chris Garrod, who has expertise in fintech and insurtech mandates.

Practice head(s):

Charles Collis

Other key lawyers:

Jacqueline King; Alexandra Macdonald; Sophia Greaves; Chris Garrod; Chiara Nannini; Sarah Lusher


‘The team has an outstanding command of Bermuda regulation, both in practice and interpretation as is always on the forefront of market evolution.’

‘Chiara Nannini and Jacqueline King deliver excellent advice related to the BMA, governance, and deal structuring.’

‘Conyers has an excellent insurance and reinsurance legal team with particularly strong capabilities in the insurance-linked securities space.’

‘Alexandra Macdonald is an excellent and collegial lawyer with deep knowledge of the Bermuda insurance/reinsurance regulatory environment. She is commercially minded and resolves issues amicably and with creativity.’

‘I value the ease of access to Sophia Greaves and Sarah Lusher. They both respond timely and comprehensively to the issues on which they are consulted.’

‘Conyers has provided a full service legal team for establishing a Bermuda-based reinsurance company. Their stand-out strength is their experience and relationships with applicable regulators in Bermuda.’

‘Jacqueline King has provided excellent service over the course of our engagement. She has a deep understanding and appreciation of business objectives, and proactively offers advice on how to achieve those objectives.’

Key clients

Conduit Reinsurance Limited

Assured Guaranty Ltd


Enstar Group Limited

RiverStone International Limited

Harrington Re Ltd.

Premia Reinsurance Ltd

Martello Re Limited

Resolution Re Ltd

Sirius Reinsurance Company Limited

Work highlights

  • Acted as Bermuda counsel to J.P. Morgan to provide funding to Swiss Re via a multi-year stop-loss transaction.
  • Advised Somerset on its business combination with Aquarian Holdings LLC.
  • Advised Coalition and BDT on the formation and licensing of Ferian Re Ltd., as a Class 3B insurer in Bermuda which launched with approximately $300m of third-party capital.


The re/insurance and ILS team at Walkers is continually expanding its presence in the Bermuda market, actively collaborating on a wide spectrum of both contentious and non-contentious issues. Peter Dunlop, who possesses extensive knowledge of underwriting issues, insurance disputes, and regulatory affairs, co-leads the practice alongside Sarah Demerling, who specialises in the formation, licensing and regulatory compliance of insurance companies and intermediaries; she also excels in M&A and alternative risk financing transactions. Adding to the team’s expertise is Melanie Fullerton, who has valuable experience in BMA insurance applications, and Natalie Neto, who heads up the fintech division, plays a pivotal role in facilitating the establishment and licensing of entities in the insurtech sector.

Practice head(s):

Sarah Demerling; Peter Dunlop

Other key lawyers:

Melanie Fullerton; Natalie Neto


‘Our experience with the Walker’s team has been nothing but exceptionally positive. They are knowledgeable and has been very proactive and attentive at all times in our communications as well as the communications with our clients.’

‘The Walkers team are knowledgeable and easy to work with. They are adept at navigating regulatory submissions and discussions which allows for a smooth application process.’

‘Peter Dunlop is always very responsive to requests. When meeting to discuss those requests, he always demonstrates an extremely strong knowledge of the subject matter at hand and has a strong commercial solution.’

‘Melanie Fullerton and Sarah Demerling continue to be valued business partners in the formation of insurance companies in Bermuda, allowing for a smooth regulatory process.’

‘Really excellent service and covers the technical insurance side very well.’

‘Sarah Demerling is a great support on insurance transactions.’

‘The team is well aware of the Bermuda licensing requirements and were instrumental in helping us get a license under a tight deadline.’

‘The individuals at Walkers have very relevant experience around Bermuda regulatory requirements, with past employment at the BMA. The individuals were very responsive and provided assistance in an expedited manner.’

Key clients

Aquarian Holdings

Athene Holdings Ltd.

Credit Suisse Insurance Linked Strategies

Credit Suisse Life (Bermuda) Limited


Inigo Lloyd’s Syndicate 1301


McGill and Partners

Munich Re

Our Kettle Inc.


Swiss Re

Yorkshire & Clydesdale Bank


Work highlights

  • Represented the trustee of Yorkshire and Clydesdale Bank Pension Scheme in a longevity swap transaction with Pacific Life Re International Limited and Zurich Assurance Ltd to manage longevity risk in relation to c.£1.6bn of pensioner liabilities.
  • Represented BDT Capital Partners, LLC as it led the investment into Ferian Re, an independent Bermuda Class 3B reinsurer and subsidiary of Coalition.

ASW Law Limited

ASW Law Limited‘s insurance and reinsurance practice provides expert guidance on high-value M&A transactions and also has a wealth of experience in incorporations, licensing issues, regulatory compliance, enforcement matters and insurance transactions. Spearheaded by Neil Horner, the practice assists major insurers with multi-billion-dollar deals and new company formations. Kehinde George specialises in corporate restructuring and insolvency work, actively participating in complex insurance sector mandates involving schemes of arrangement and distressed insurance companies. Hanno Tolhurst has extensive expertise in handling significant cross-border insurance and reinsurance cases, while Kim Willey serves as a trusted counsel for insurance regulatory matters. The team is further reinforced by the expertise of senior counsel Nikhil Lawton-Misra and senior associate Sangheetaa Phary.

Practice head(s):

Neil Horner

Other key lawyers:

Kehinde George; Hanno Tolhurst; Kim Willey; Nikhil Lawton-Misra; Sangeetaa Phary


‘Very knowledgeable about the regulatory regime and market in Bermuda and good relations with the BMA. Experienced in M&A and other insurance/reinsurance transactions and extremely responsive in producing advice in short turnaround time.’

‘Neil Horner – many years of experience in the industry so can suggest solutions from experience as well as how the BMA may approach things. Hanno Tolhurst – very responsive and will suggest commercial solutions rather than just quoting the law.’

‘Independence, standards of client service, responsiveness.’

‘Degree of knowledge and expertise in the insurance sector.’

Key clients

Argo Group International Holdings, Ltd.

BF&M Limited

Agam Capital Management LLC and 26North Partners LP

The Travelers Companies, Inc., Capital Z Partners & Further Global Capital Management

Nippon Life Insurance Company

Sagicor Financial Company Ltd.

Covéa Cooperations

Brookfield Reinsurance Ltd.

Legal & General Group PLC

Compre Group

Work highlights

  • Advising speciality insurance underwriter, Argo Group, on all Bermuda legal aspects and the Bermuda regulatory process for its acquisition by Brookfield Reinsurance, in an all-cash transaction valued at approximately $1.1bn.
  • Advising BF&M Limited, a key local Bermuda insurance group that is publicly listed on the Bermuda Stock Exchange, on all Bermuda legal aspects of its strategic review, including the potential sale of the company.
  • Advised Agam Capital Management LLC on the incorporation and licensing of Agam Bermuda ISAC Ltd., the first incorporated segregated accounts company to be licensed in Bermuda as a long-term Class E insurer.

Carey Olsen Bermuda Limited

Carey Olsen Bermuda Limited is highly regarded for its 'knowledgeable, responsive, and commercial' advice, offering comprehensive guidance on all facets of the Bermuda insurance industry, with a specific emphasis on company formations, licensing issues and regulatory compliance for insurance companies and intermediaries across various classes and categories. At the helm of the team, Gavin Woods specialises in insurance transactions and regulatory matters with a wealth of experience in insurance company licensings, alternative risk financings, and debt and equity financings. Further key names include Michelle Falcucci, who is a specialist in the licensing and regulation of insurance companies and intermediaries; Max Tetlow, who excels in advising private listed and overseas entities; and Alexander Collis, whose expertise extends to incorporations, M&A, reorganisations and restructurings.

Practice head(s):

Gavin Woods

Other key lawyers:

Michelle Falucci; Max Tetlow; Alexander Collis


‘Very proactive, know the Bermuda insurance market and regulation, and responsive.’

‘Gavin Woods is excellent and one of our “go-to” senior lawyers in Bermuda.’

‘The most important thing to know is that the Carey Olsen Bermuda insurance/reinsurance team hits all of the following in their advice: knowledgeable, responsive, and commercial.’

‘Very approachable, personable team, and desire to work on innovative projects.’

‘Gavin Woods – very knowledgeable and efficient.’

‘Gavin Woods and his team are great to work with. I find them very open and practical, while demonstrating a great knowledge of the matters we are referring to them on. CO are a trusted partner for us, with deep industry knowledge, coupled with a friendly ‘can do’ attitude.’

‘Gavin Woods is my main point of contact. He is a great sounding board and centre of knowledge, always willing to listen and understand our needs, prior to trying to find a solution for them. He is extremely capable, yet pragmatic in his approach.’

Key clients


Bermuda Captive Network

Chard Re Investment Management Ltd

Hiscox Ltd.


Work highlights

  • Advised RenaissanceRe Holdings Ltd. on its £3bn acquisition of American International Group Inc.’s treaty reinsurance business.
  • Advised Hiscox Ltd. on its £250m investment grade bond/note issuance.
  • Advised a US life insurance company on establishing a presence in Bermuda, including the incorporation and licensing of a Bermuda captive insurer (Class 2) and a Bermuda life reinsurance company (Class E).


The team at Kennedys adeptly manages a comprehensive spectrum of both contentious and non-contentious matters, representing insurers, reinsurers, captive insurance companies and their insured clients. Mark Chudleigh co-leads the practice alongside Nick Miles, who is recognised as a ‘stellar regulatory lawyer‘ whose expertise spans public company mergers and economic substance regulations. Laura Williamson adds further depth to the team with her proficiency in handling professional liability claims, director’s liability matters, complex insurance arbitrations, and multi-jurisdictional cases. Other notable contacts within the firm also encompass special counsel Erik Penz, who acts in contentious insurance matters; senior associate Nicolas Champ, who is a specialist in corporate insurance; and associates David Thom and Alexandra Miller.

Practice head(s):

Mark Chudleigh; Nick Miles

Other key lawyers:

Laura Williamson; Erik Penz; Nicolas Champ; David Thom; Alexandra Miller


‘The Bermuda team provided invaluable local knowledge and broader advice on a technical claims problem with an impressive level of communication and understanding of my needs.’

‘I have worked with Erik Penz and Mark Chudleigh. Each possesses the requisite knowledge, experience and litigation skills necessary to provide strategic, common sense and sound legal advice.’

‘Nick Miles is a stellar regulatory lawyer.’

‘We have worked with Kennedys Bermuda offices for many years now. They have been very additive in terms of structuring a transaction and adding value beyond the typical scope.’

‘Eric Penz and Mark Chudleigh provided me with the advice. They understood exactly what I needed and were able to pivot when required. There was a great deal of information to digest, which they did quickly and were able to translate to me in good time.’

‘Eric Penz responds quickly and was very good at coordinating the work with other attorneys on the claim.’

‘Laura Williamson is outstanding. She’s smart, responsive and incredibly hard-working.’

Key clients

Swiss Reinsurance Company

Chubb Insurance

SiriusPoint Insurance Bermuda


Arch Reinsurance Ltd.

Allied World Insurance Company


Markel Bermuda Ltd

Securis ILS Management

National Westminster Bank plc

Work highlights

  • Acting as Bermuda Counsel to long-term insurer CICA LIFE, LTD. on all aspects of a long-term business transfer scheme to transfer its entire life book to an affiliate insurer in Puerto Rico.
  • Acting as Bermuda representatives for Travelers in connection with all claims notified under Travelers’ Bermuda programmes for “punitive wrap” insurance coverage.
  • Serving as Bermuda Counsel to Arch Reinsurance in connection with the acquisition of a minority interest in Helix Underwriting Ltd., a Bermuda insurance agent.