Next Generation Partners

Insurance/reinsurance in Cayman Islands

Campbells

Praised as ‘responsive and very knowledgeable‘, Campbells’ insurance and reinsurance practice handles the formation, licensing and operation of a large percentage of the captive insurance entities established in the Cayman Islands, with particular expertise in captives sponsored by healthcare and not-for-profit entities. Practice head Alan Craig is a key name in the market for dealing with both domestic and international insurers; he specialises in advising reinsurers on establishing in and re-domesticating to Cayman, as well as foreign insurers participating in the domestic market, most notably in relation to M&A and insurance-related capital markets. In March 2021, Alistair Walters  retired, and newly promoted partner Paul Kennedy is now the go-to name for contentious insurance work.

Practice head(s):

Alan Craig

Other key lawyers:

Paul Kennedy

Testimonials

‘The Campbells team are responsive and very knowledgeable. I have always found the Campbells team to be reliable and a great resource, which is why I have no hesitation in working with them or recommending them.’

Key clients

Athene

Marsh McLennan

Willis Towers Watson

Cooper Gay / Ed Broking

Island Heritage

ICWI (Insurance Company of the West Indies)

Guardian Life

Global Captive Management

Artex Risk Solutions

Caribbean Catastrophe Risk Insurance Facility

Guardian Insurance

Strategic Risk Solutions

Beecher Carlson

Fidelity Insurance

Eastern Alliance Insurance Group

Crum & Forster

Cottingham & Butler

United Health Group

Innovative Captive Strategies

Caribbean Alliance

Pan-American Life

Investors Trust

Work highlights

  • Advising the World Bank sponsored Caribbean Catastrophe Risk Insurance Facility on the provision of catastrophe risk coverage to governments in the Caribbean and Central American.
  • Advising Athene Holdings on financing arrangements with a value in excess of $1bn.
  • Advising various clients on issues arising from the insolvency of insurance counterparties (including Premier Assurance Group SPC) and with respect to regulatory matters.

Conyers

The dedicated team of insurance specialists at Conyers possess an extensive track record across the full spectrum of insurance work, which it handles for a broad client base comprising insurers, reinsurers, captive owners, insurance managers and insurance consultants. Most notably, the department, which is led by Derek Stenson , frequently handles major reinsurer establishments, mergers and migrations, as well as insurance-related M&A, regulatory advisory issues, insurance litigation and insurance-linked securities work. Other noteworthy advisers include counsel Rob Humphries and associate Philippa Gilkes , both of whom are well-versed in regulatory, commercial and transactional matters arising from the insurance and reinsurance sphere.

Practice head(s):

Derek Stenson

Key clients

AIG

Aon

Aran Re

Athene Holding Ltd.

Ascension Health

Assurant Inc.

BlackStone

Berkshire Hathaway

CIBC Reinsurance

CIGNA

Coinbase

CRICO

Crestline Re

Aran Re

Global Atlantic Financial Group

Island Heritage Insurance Company, Ltd.

Knighthead Annuity

Liberty Mutual

Longtail Re

MetLife

Premia

Prudential plc

Randall & Quilter Investment Holdings Ltd.

RBC Re

Root Inc.

Tokio Marine

Zurich North America

Work highlights

  • Advised for Premia Holdings Ltd. on the establishment of Elevation Re (SPC) Ltd, a collateralised reinsurance sidecar structure capitalised with more than $265m by third-party investors.
  • Advised Royal Bank of Canada Insurance Company Ltd. on its redomicile from Barbados to the Cayman Islands and licensing as a Class D insurer with the Cayman islands Monetary Authority.
  • Advised CommonSpirit Health on the amalgamation of its insurance subsidiaries, All Saints Insurance Company, SPC, Ltd. and First Initiatives Insurance, Ltd by way of a court-approved scheme of arrangement.

Walkers

Walkers fields a multi-disciplinary team of lawyers who collectively have a deep well of experience across regulatory, corporate, structured finance, derivatives, insolvency and litigation issues that emanate from the insurance and reinsurance space. Among the key pillars of the practice are handling the establishment and licensing of life and non-life insurers and reinsurers, financing arrangements, M&A, restructurings, alternative risk transfer structures and regulatory issues. Insurance-linked securities expert Philip Paschalides and global regulatory lead Lucy Frew  head up the group, which also includes Tony De Quintal, who 'is really solid on the regulatory side' where his ‘experience, knowledge and professionalism definitely stand out’.

Practice head(s):

Lucy Frew; Philip Paschalides

Other key lawyers:

Sarah Dombowsky; Tony De Quintal

Testimonials

‘Members of the team do not operate in ‘silos’ and act in the best interests of their clients.’

‘Tony De Quintal has shown leadership and created a knowledgeable team and created a strategy that the client could follow, has shown a personal approach and ability to listen to clients.’

‘Solid all-round team with good breadth of knowledge and excellent bench strength.’

‘Tony De Quintal is really solid on the regulatory side.’

‘Team or teamwork are terms that are used very commonly but Walkers actually exemplifies these ideas. You do feel like you are working with a team and not an isolated individual. From a client perspective, this is very reassuring as it connotes consistency, durability and resiliency.’

There are a number of good law firms in the Cayman Islands, but Walkers most clearly demonstrates a team approach.’

‘In the insurance/reinsurance sector, Tony De Quintal’s experience, knowledge and professionalism definitely stand out. This is particularly true in respect of regulatory affairs, which has become a major area of focus. Tony is very accessible and his ability to quickly grasp the underlying issues, the client perspective and devise solutions is quite unique. Much of this is predicated on really listening to the client, which is a skill often discussed but rarely observed.’

‘Philip Paschalides has extensive structuring and deal expertise that helps guide clients through the process and reach their desired strategic objectives.’

Key clients

FGL Holdings

Work highlights

  • Advised FGL Holdings on a multi-jurisdictional Class D reinsurance licence application with the Cayman Islands Monetary Authority and incorporation of the legal entity applying for the class D licence.

Appleby

Integrated into the firm’s corporate department, the insurance practice at Appleby regularly advises on the establishment, licensing, regulatory compliance and business operations of insurance and reinsurance companies, in addition to assisting insurance managers and brokers based in international jurisdictions. As key names to note, Simon Raftopoulos and Jacob MacAdam are particularly active in cross-border finance and corporate deals involving insurance entities, along with reinsurer incorporations.

Practice head(s):

Simon Raftopoulos

Other key lawyers:

Jacob MacAdam ; Appolina Bent

Testimonials

They have a dedicated Insurance /Reinsurance Practice across multiple jurisdictions which enables them to access the best industry advice. They also have no bias in regards to where best to establish a global reinsurance carrier, which serves clients needs best when they are making a decision on where to establish their operations.

Jacob MacAdam and Appolina Bent have been super helpful with the launch of our commercial reinsurer. They are trusted advisers.’

Key clients

Brookfield Asset Management Inc.

Willis North America Inc.

Kuvare Life Re Ltd.

Aon Plc

Work highlights

  • Advised Brookfield Asset Management Inc. on its obligations under the laws of the Cayman Islands in respect of an indirect acquisition of a controlling stake in Oaktree Capital.
  • Advised Willis North America Inc. and Aon plc on the acquisition by Aon, by way of a merger, of Willis.
  • Acted for Brickell Insurance Holdings LLC in connection with Brickell’s share exchange investment in Randall & Quilter, an AIM-listed insurance group.

Maples Group

Maples Group’s insurance team specialises in insurance-related M&A, corporate advisory work and regulatory compliance mandates. Tim Frawley leads the practice, which has experience handling the licensing of insurers, reinsurers, managers and brokers, with a proven record assisting catastrophe bond and other special purpose insurers in particular. The standout name in the firm’s Cayman office for insurance and reinsurance matters is Abraham Thoppil .

Practice head(s):

Tim Frawley

Other key lawyers:

Abraham Thoppil 

Key clients

United Insurance Company

Signature Insurance Company

United SPC

Cayman First Insurance Company Limited

Oxbridge Reinsurance Limited

Knighthead Annuity & Life Assurance Company

Nassau Re (Cayman) Ltd.

Island Heritage Insurance Company, Ltd.

Brac Insurance Associates Ltd.

Magni Re Ltd.

Work highlights

  • Advised Blackstone on the $2.8bn acquisition of AllState’s Life Insurance business.
  • Providing ongoing advice to Knighthead Re and most recently provided insurance and corporate advice relating to proposed new initiatives.
  • Advising Insurance Managers Association/Cayman Finance on new legislative initiatives for the insurance industry in the Cayman Islands.