Appleby advised on all matters of insurance and regulatory law, Bermuda funds and investment management as Integral ILS Ltd. builds out its first ILS fund portfolio in time for the January reinsurance renewals.
Integral said that this investment has provided it with significant limited partnership investment commitments to launch a new dedicated ILS strategy. This new ILS fund strategy will be focused predominantly on natural catastrophe-linked reinsurance and insurance transactions.
Integral will also be able to write direct collateralized reinsurance and retrocession itself as well, using its recently established Bermuda special purpose insurer Integral Reinsurance Ltd.
Integral says that it aims to, “Drive further evolution in the ILS fund management model with an investor-focused fiduciary that also benefits from a long-term and stable alignment with industry leaders in reinsurance and insurance underwriting and distribution.”
Partner Brad Adderley led the deal with assistance from Partners Matthew Ebbs-Brewer and Sally Penrose, Senior Associates Josephine Noddings and Bradley Houlston and Associates John Small and Riley O’Brien.