Appleby has advised longstanding client, Brookfield, on the establishment of North End Re (Cayman) SPC (North End Re) a Cayman Islands reinsurer licensed by the Cayman Islands Monetary Authority.
North End Re is an indirect subsidiary of Brookfield Asset Management Reinsurance Partners Ltd. and has been assigned a Preliminary Credit Assessment by AM Best with a Financial Strength Assessment of A- pca (Excellent) and a Long-Term Issuer Credit Assessment of "a-" pca.
The Appleby team was led by Jacob MacAdam, a partner at the firm, with assistance from Appolina Bent, an associate, each based in the firm's Cayman Islands office.
Jacob commented, "It has been a great pleasure working with Brookfield to establish North End Re and we have no doubt that the management team will be highly successful in executing their reinsurance strategies. We are delighted that Brookfield have chosen the Cayman Islands, with its sophisticated yet business-friendly legal and regulatory regimes, as the jurisdiction of incorporation for this vehicle."