1. NTRODUCTION
Bermuda has long been one of the most important global insurance
and reinsurance centres, and is regarded as one of the most
sophisticated markets in the world. With innovation as its
hallmark, the island continues to be at the forefront of the
industry and has led the development of insurance-linked security
products, including a robust market for cat-bonds. With the
creation of the Special Purpose Insurer (“SPI”) vehicle
in 2009, Bermuda has become the dominant jurisdiction globally for
the majority of all new catbond transactions, and Conyers Dill
& Pearman (“Conyers”) remains the predominant
Bermuda firm advising on such transactions.
In a standard Bermuda cat-bond transaction, Conyers' role
as Bermuda counsel will include assisting with:
