Walkers is pleased to have acted for Onex Corporation
("Onex") in respect of Onex's recent
investment in Convex Group Limited
("Convex"), as well as associated fund
and co-investment structuring matters. In dollar value of capital,
Convex is the largest re/insurance start-up in the Bermuda
market's history and will be led by well-known insurance
industry veteran, Stephen Catlin, with $1.8 billion of committed
capital.
The invested capital comes from the Convex management team and Onex
Partners V, an Onex managed fund, and a consortium of
co-investors.
Convex will underwrite insurance and reinsurance in Bermuda and
London and is expected to create at least 50 jobs in Bermuda.
The Walkers team that advised on corporate, fund structuring and
co-investment aspects of the deal was led by Caroline Williams
(Partner) in the Cayman Islands and Jonathan Betts (Partner) in
Bermuda and included Bicrom Das (Senior Counsel), Matthew Bernardo
(Associate), Jennifer Sangaroonthong (Associate) and Rachel
Nightingale (Associate).
PRESS RELEASE
7 May 2019
Walkers Acts For Onex In $1.8 Billion Bermudian Re/Insurance Start-Up
Walkers
Contributor
We are a leading international law and professional services firm providing legal, corporate and fiduciary services to global corporations, financial institutions, capital market participants and investment fund managers. With a global presence spanning the Americas, Europe, the Middle East and Asia, we advise on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey.
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The invested capital comes from the Convex management team and Onex
Partners V, an Onex managed fund, and a consortium of
co-investors.