Bermuda Public Companies Update – May 2016

We are pleased to present the latest edition of our Bermuda Public Companies Update which features a summary of significant transactions involving Bermuda public companies listed on the NYSE and Nasdaq for the period of Q4 2015 through Q1 2016.

Despite the unsettled state of the capital markets that have characterized the last six months, there have been significant positive developments that have consolidated Bermuda's position as a leading domicile for public companies on the principal US stock exchanges. In the insurance sector, Bermuda achieved Solvency II equivalence which has prompted global insurer XL Group plc to announce that it will move its corporate home from Ireland to Bermuda. Although there were no new Bermuda company IPOs in the US markets during the period, TAL International Group, Inc. (NYSE:TAL) (a Delaware corporation) announced a merger transaction that is expected to result in the listing of a new Bermuda holding company on the NYSE. Markit Ltd.