Fleming Reinsurance Ltd. was initially licensed as a Class 3 insurer in 2015. Appleby was instructed to provide regulatory advice and insurance expertise in connection with its license as a Class 3A insurer. Appleby assisted with obtaining its license in December 2018 and in January 2019, Fleming Reinsurance Ltd. announced the completion of its first run-off transaction with the novation of all liabilities from Cayman-based captive insurer United SPC Segregated Portfolio #4.

Fleming Reinsurance Ltd. seeks to both consolidate and innovate the legacy risk transfer market through the use of unique structures, efficient capital, and ability to close within tight timelines.

Partner Brad Adderley led this transaction, with assistance from Associate Shannon Cann.

Share
Twitter LinkedIn Email Save as PDF
More Deals
11 Jun 2020 | Deals

Appleby Bermuda advised Normandy Limited in respect of its merger with Caribbean Investment Holdings Limited

Appleby Bermuda advised Normandy Limited in respect of its merger with Caribbean Investment Holdings...

Contributors: Jamie Rego
14 Apr 2020 | Deals

Appleby Bermuda advised Global Atlantic in their launch of Ivy, a USD1 billion reinsurance co-investment vehicle

Appleby acted as Bermuda counsel to Global Atlantic Financial Group Limited (Global Atlantic), a lea...

9 Apr 2020 | Deals

Appleby Bermuda advised Relm in the launch of its operation to offer insurance cover for cryptocurrency and cannabis businesses

Appleby advised Relm, the innovative insurer of emerging business categories, which is owned by Delt...

7 Apr 2020 | Deals

Appleby Bermuda assists Credit Suisse with USD461 million Operational Re cat bond coverage

Appleby has assisted with a third catastrophe bond issuance offering Credit Suisse protection for it...

Contributors: Matthew Carr
22 Jan 2020 | Deals

Appleby advises AXIS Capital in its 2020 issuance of insurance and reinsurance linked notes

Our insurance team advised AXIS Capital, the Bermuda-headquartered global (re)insurer, in its 2020 i...

15 Jan 2020 | Deals

Appleby Bermuda acted as counsel to Matterhorn Re Ltd., on the launch of its first catastrophe bond of 2020 under the sponsorship of Swiss Re

Matterhorn Re Ltd., registered as a Special Purpose Insurer in Bermuda, has via a segregated account...

Contributors: Josephine Noddings
15 Jan 2020 | Deals

Appleby Bermuda advised Sierra Ltd., the vehicle used by Bayview Asset Management, LLN in its first ever ILS transaction

Appleby Bermuda acted as counsel to Sierra Ltd. in connection with its offering of USD 150 million S...

Contributors: Josephine Noddings
10 Jan 2020 | Deals

Appleby acted as Bermuda counsel to AkinovA leading up to the completion of a ‘first of its kind’ parametric cyber risk transfer

Appleby’s insurance team acted as Bermuda counsel to AkinovA on all matters leading up to the comp...

8 Jan 2020 | Deals

Appleby Bermuda advised Sumitomo Dainippon Pharma in its USD 3 Billion acquisition of five biopharmaceutical companies

Our Bermuda team advised Sumitomo Dainippon Pharma, a leading Japanese pharmaceutical company in res...

Contributors: Jamie Rego
19 Dec 2019 | Deals

Appleby acted as Bermuda counsel to AccorInvest Group

Appleby acted as Bermuda counsel to AccorInvest Group in connection with the sale of its Fairmont So...