Appleby acted as Bermuda counsel for Chaucer, the international specialty (re)insurance group, in the formation and licensing of its Bermuda Class 4 insurer and insurance agent.
Chaucer will operate as a Class 4 re/insurer in Bermuda, writing a range of US property, casualty and specialty reinsurance business. The launch of a new reinsurance branch in Bermuda will provide US clients with greater access to its specialty underwriting expertise and capacity.
"Bermuda is a key market and we are excited to be here," said John Fowle, Chief Executive Officer of Chaucer. "This move builds on our existing infrastructure as we aim to provide brokers and clients with smart underwriting solutions."
Partner Brad Adderley led this transaction with assistance from Associates John Small and Jason Green.
Appleby's specialist Insurance & Reinsurance team provides advice on the establishment, regulatory compliance and business operations of (re)insurance companies, as well as advising (re)insurance managers and brokers based in international jurisdictions.
They specialise in advising on the establishment, regulatory compliance and business operations of (re)insurance companies, as well as (re)insurance managers and brokers based in international jurisdictions. They advise private and listed companies, including major New York and London finance houses, as well as FTSE 100 and Fortune 500 household names.