Insurance & Reinsurance
We have experts in each of our jurisdictions in the insurance and reinsurance market who have a comprehensive knowledge of all legal and regulatory matters affecting the formation and operation of insurance and reinsurance structures.
Across our jurisdictions, we advise on captive insurance vehicles, insurance linked securities (ILS), pension longevity risk transfers, insurance business transfer schemes and migration of insurance companies. Our clients include regulatory authorities, governments, major corporates and ratings agencies.
We continue to place ourselves at the cutting-edge of legislative and regulatory developments, not least through our active involvement in various industry forums and committees.
The Cayman Islands is the second-largest captive jurisdiction in the world. Our Cayman Islands practice is one of the largest and fastest-growing insurance and captive insurance practice in the islands, advising international insurers and reinsurers on all aspects of the set-up, structure, restructuring, regulation and termination of Cayman Islands insurance vehicles.
In the captive space, our Cayman Islands expertise includes:
- Regulatory and corporate law advice
- Preparing or amending constitutional documents
- Preparing or reviewing shareholders agreements, subscription agreements and participation agreements and advising on shareholder exits
- Advising on reinsurance and quota share agreements
- Assisting with group lending arrangements impacting a captive
- Advising on loss portfolio transfers and commutation arrangements
- Establishing segregated portfolio companies
- Advising on the mergers of captives by statutory amalgamation and the sale or disposal of captives
- Advising on the inbound and outbound re-domestication of captives
Our highly experienced Guernsey team, headed by Richard Sharp, is ranked in the top tier by Legal 500. Guernsey is Europe’s premier insurance jurisdiction and is renowned for its innovation in the sector – including the creation of the protected cell company. As experts in cellular companies, we have drafted cell company legislation for foreign governments and are at the forefront of the provision of advice and services to the captive market.
Guernsey is increasingly a European jurisdiction of choice for transformer vehicles and insurance securitisation. We are leaders in the market in the area of insurance linked securities (ILS), and have been front runners in the developing area of convergence, bringing capital and insurance markets together.
The Guernsey team also advises on pension longevity transactions - where Guernsey captive insurance companies provide a cost effective longevity risk transfer solution for pension trustees - as well as insurance business transfer schemes, migrations and all aspects of the legal and regulatory framework for the local Guernsey insurance sector.
Jersey's reputation is building as an insurance jurisdiction and it has an active insurance business sector. Its modern company law has built on initiatives in other jurisdictions and provides for both protected cell companies and incorporated cell companies. Our Jersey team, headed by Martin Paul, advise on a range of insurance-related matters including the migration of insurance companies, insurance business transfer schemes, the effects of English insurance business transfer schemes and the establishment of business locally.
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Provides knowledge and understanding of ILS industry.
Knowledge and out of the box thinking.
The team has great experience of insurance business and leaves clients extremely satisfied with all its levels of service, particularly in responding to urgent queries.
We offer expert advice in BVI, Cayman Islands, Guernsey and Jersey law, from our conveniently located offices across Europe, the Americas and Asian time zones in order to handle the most challenging and complex cross-border deals, disputes and investigations.
11 September 2023Read more
22 February 2023Read more