Ross Dennett, the Chairman of Thomas Miller Captive Management, which acts as Ilex’s insurance manager, commented:  “As the first application for an insurance special purpose vehicle authorisation in the Isle of Man, this was always going to be a complex matter that required expert navigation through a range of novel legal issues.  Appleby’s support and guidance through the process has been absolutely critical.  They are skilled at distilling complex legal/regulatory issues into practical and user-friendly advice, and their responsiveness is first-class.”

Garry Manley, who led the Appleby team, reflected:  “We are very proud to have assisted Ilex and the Thomas Miller team on this ground-breaking matter.  Obtaining the first authorisation of its kind was always going to be a challenge, but we were able to draw on Appleby’s vast knowledge of the global insurance-linked securities market to make the process as efficient as possible for our client.  The Isle of Man Financial Services Authority team was pragmatic and approachable throughout, and we were delighted that the application was approved within just two-and-a-half days of submission.”

Alan Rowe, of the Isle of Man Financial Services Authority, added: “The speed of turnaround reflects the applicant’s lead-up preparation, supported by legal advice, and the quality of the completed application.”

Appleby has vast knowledge and experience of advising on all aspects of insurance and reinsurance matters.  As well as having the Isle of Man’s pre-eminent insurance and reinsurance practice, Appleby has an award-winning global (re)insurance practice, with lawyers in significant jurisdictions including Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Jersey and Hong Kong, meaning it is uniquely positioned to advise clients seeking to carry out (re)insurance business, or transact with (re)insurers, in those jurisdictions.


Twitter LinkedIn Email Save as PDF
More Deals
25 Jan 2023 | Deals

Appleby Isle of Man act for Alvarium on merger with Tiedemann

Appleby Isle of Man act for Alvarium on merger with Tiedemann

19 Dec 2022 | Deals

Appleby advises Lifezone Metals on its de-SPAC Business combination with NYSE-listed GoGreen Investments Corporation

Appleby has acted as Isle of Man and Cayman Islands counsel to Lifezone Metals, developer of cleaner...

7 Dec 2022 | Deals

Appleby acts on Transfer of Utmost Limited’s Entire Book of Long-Term Insurance Business

Appleby has acted as lead counsel on the transfer of Utmost Limited’s entire book of long-term ins...

21 Nov 2022 | Deals

Appleby acts for Zurich on sale of Singapore insurance business

Appleby is proud to have acted as Isle of Man legal counsel to Zurich International Life Limited on ...

11 Oct 2022 | Deals

Appleby Isle of Man advises Strix Group Plc on its equity fund raise

Appleby’s Isle of Man office advises Strix Group Plc on matters of Isle of Man law in connection w...

31 Jan 2022 | Deals

Appleby advises BGF on investment in fitness tech company Myzone

Appleby advised BGF on its recent $17.2 million investment in Myzone, the global manufacturer of wea...

9 Dec 2021 | Deals

Appleby advise TISE listed Atlantic Leaf Properties Limited on sale of its UK logistics portfolio

Leading offshore law firm Appleby acted as Jersey, Guernsey and Isle of Man counsel to TISE listed A...

1 Dec 2021 | Deals

Appleby advises Quilter on GBP483 million sale of life insurance business

Leading offshore law firm Appleby has acted as Isle of Man counsel to Quilter plc on the £483 milli...

21 Sep 2021 | Deals

Appleby advises joint lead managers on £400 million sustainability bond issue by the Isle of Man Government

Appleby has advised the joint lead managers, including among others, HSBC and Santander on the Isle ...

15 Mar 2021 | Deals

Appleby advises on recommended cash acquisition of RDI REIT PLC

Appleby is acting as Isle of Man and BVI counsel to SOF-12 Cambridge BidCo Limited, a newly formed c...