Overview

For more than 30 years, our lawyers have been instrumental in the structuring, formation and operation of onshore and offshore captives and insurers.

We are well-known for our experience in the formation of Bermuda-based insurance companies, including Everest Re Group, LaSalle Re, Intrepid Re and Endurance Specialty. We have been counsel or co-counsel in high-profile IPOs, including those of ACE, Assured Guaranty, LaSalle Re, IPC Re, Montpelier Re and Endurance. We have also structured and formed US and offshore captives for many of our non-insurance clients. Several of our captive clients are organized as risk retention groups under the Federal Risk Retention Act of 1986.

See our work in connection with Insurance Linked Securities and Side Cars.

Experiencia

Select Bermuda and offshore engagements by Mayer Brown partners include:

  • ACE. We represented ACE in its 1995 initial public offering and have represented ACE in all of its significant capital markets and mergers and acquisitions transactions since then.
  • Everest Re. We represented Everest Reinsurance Holdings, Inc. in the sale of Mt. McKinley Insurance Company to Clearwater Insurance Company, an affiliate of Fairfax Financial Holdings Limited, and represented Everest Re in its migration to Bermuda in 2000. We also regularly advise Everest Re on various tax, regulatory, and corporate matters.
  • Bermuda-based reinsurer. We represented a Bermuda-based reinsurer as fronting reinsurer in an insurance runoff solution for a £170m UK employers’ liability book.
  • Startup Insurers. We represented Bermuda startup Insurers from each of the catastrophe “classes” including: Harbor Point (now Alterra); Endurance Specialty; and LaSalle Re.
  • Bermuda Corporate Organization. We represented Assured Guaranty, CIG Re, Centre Re, Lehman Re, Morgan Stanley Re, Q Re, and Tokio Millennium Re in connection with tax, regulatory, capital markets, M&A and corporate organizational matters.
  • Underwriters. We represented the underwriters in public offerings on behalf of Bermuda companies, including Max Re.
  • Sanctions Issues. We represented a Bermuda reinsurer on US sanctions issues in connection with reinsurance transactions and payments.