Bermuda Insurance and Reinsurance Practice Group

Walkers Bermuda’s multidisciplinary insurance and reinsurance team has deep industry experience and offers Bermuda legal and regulatory advice on the full scope of insurance matters including alternative risk transfer and insurance linked securities.

We pride ourselves on individual client service and practical industry expertise in order to help our clients achieve their business goals, seize new opportunities and find solutions to problems. Our team has first-hand insurance experience, which translates into pragmatic, commercial legal advice. We look to build relationships with our clients for the long term acting as their trusted legal advisor for all their Bermuda legal and regulatory insurance matters.

Our clients include: >> Insurance and Reinsurance Companies (including P&C, Life, Specialty, Professional Lines, Cyber); >> Hedge Funds, Private Equity, Pension Funds, Institutional Investors; >> Insurance Managers, Brokers & Agents; >> Captives, Special Purpose Insurers, Segregated Account Companies.

“Clients appreciate that the firm ‘wants to understand our business and culture’ adding that it ‘offers more in terms of geographic coverage’ than many of its competitors.” Chambers Bermuda Insurance and Reinsurance Practice Group Cont’d

Key Contacts: We offer a full suite of legal services to our clients including: >> Legal and regulatory advice in relation to the formation, structuring, licensing, ongoing operation and regulatory compliance of all types of Bermuda regulated insurance vehicles; >> Alternative risk transfer structures, including sidecars, transformers, life settlement transactions, longevity swaps, structured product transactions and insurance linked securities (including Jonathan Betts catastrophe bonds); Partner, Head of Corporate & Finance T: +1 441 242 1511 >> Financing, collateral arrangements and alternative capital solutions; M: +1 441 525 1511 E: [email protected] >> New product advisory and contract wording advice; >> Mergers and acquisitions, restructuring and portfolio transfers, run-offs and winding-ups; >> General advisory, regulatory and compliance work (including AML/ATF, Solvency II and PIPA/GDPR); >> Bermuda resident independent director services and corporate governance advisory;

Sarah Demerling >> BSX Listing Services; Partner, Co-Lead, Reinsurance & ILS >> T: +1 441 242 1525 Claims coverage advice, dispute resolution and regulatory investigations. M: +1 441 242 1525 E: [email protected] Insurance Transactional Experience Highlights:

>> Formation of long term insurance institutional fund and SPI transformer vehicle. >> Advising major Canadian PE firm on $750 million investment in new Class 4 reinsurer. Peter Dunlop >> Advising major US PE firm on $2.6 billion acquisition of Class 4 reinsurer. Partner, Co-Lead, Reinsurance & ILS T: +1 441 242 1524 >> Advising ILS arm of Swiss investment bank on new SPI and material change of Business Plan. M: +1 441 525 1524 E: [email protected] >> Advising US Crypto-asset company on formation of Class 1 crypto-captive insurer. >> Advising Bermuda (re)insurer in relation to its merger with a US property and casualty insurer resulting in a Bermuda domiciled NASDAQ listed company with over US$400 million in share capital. >> Acting for a lending consortium with respect to the provision of a $100 million facility to a “Excellent client worldwide insurance group which include a Bermuda class E insurer. service. They’re very >> Advising Captive Insurance Group on restructuring of operations. commercial, pragmatic >> Advising major US private equity firm in their acquisition of a significant stake in a leading insurance linked securities and catastrophe and weather risk investment manager. and good value >> Advising leading reinsurance group on the creation of a series of new sidecars. for money.” >> Advising sponsors on the formation and licensing of numerous Bermuda domiciled SPIs in Chambers connection with the issuance of catastrophe bonds. >> Advising in relation to the hostile acquisition of Class 4 reinsurer. >> Advising an LSE-listed insurer in relation to an agreed takeover of Bermuda reinsurer. >> Advising US asset management firm on a variety of renewed Industry Loss Warranties. >> Advising Bermuda life insurance company in relation to drafting of XOL and QS reinsurance and retrocession agreements. >> Advising third party capital arm of major reinsurance group on the formation of customised SPI Fund Structure.

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