Tim Faries

E [email protected]
T +1 441 298 3216

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Bio

Tim Faries is a partner in the Corporate department in Bermuda and a member of the Insurance team. Tim is also Chief Executive Officer of AGS Global. Tim was Bermuda Office Managing Partner from 2015–2021.

Tim has extensive experience of public and private insurance company capital raising and M&A activity, public listings on US, UK and European securities exchanges, the establishment and licencing of alternative risk financing vehicles such as cat bonds, ILWs and other insurance-linked securities and captive insurance companies in established and emerging markets.

Tim is recognised as an ‘Eminent Practitioner’ in Insurance by Chambers Global 2021 where he is described as a “valuable and trusted adviser,” while another interviewee added: “He is always able to help find a solution to a problem.” Tim has longstanding-experience assisting clients with non-contentious insurance and regulatory compliance mandates.

Tim is also consistently recognised by Legal 500 Caribbean as a ‘Leading Individual’ in both their Insurance/Reinsurance and Corporate and Commercial categories. Tim is further recognised as a ´Leading Lawyer´ in IFLR1000’s Banking and Capital Markets category, where clients say Tim is “excellent, and frankly he really is my go-to guy there for anything that’s complicated. He’s got a good style to him, he’s very pragmatic, very responsive, and I’ve been very happy with him.”

Tim was recognised by Captive Review in its 2013 Power 50 list, where he was described as “a respected attorney well-versed in the establishment and licensing of all alternative risk financing vehicles in Bermuda.”

Tim speaks at insurance industry conferences both in Bermuda and abroad, is a frequent author of articles and other thought pieces, and provides commentary to international and Bermuda media on the Bermuda insurance industry.

PUBLICATIONS:

DEALS:

  • ETELEQUOTE LTD., Acted as Bermuda counsel to e-TeleQuote in connection with the sale of its operating subsidiaries to Primerica, a well established provider of financial services to middle-income families throughout the United States and Canada. This deal gives an enterprise value of $600 million;
  • L. F. WADE INTERNATIONAL AIRPORT, The Financial Investors, advised  on the Bermuda law relating to the financing of the redevelopment of the L. F. Wade International Airport in Bermuda (Redevelopment) pursuant to which the clients subscribed for USD 285 million of fixed coupon notes;
  • PARTNERRE LTD., Acting in connection with the acquisition by Exor (the investment group of Italy’s Agnelli family) of all of the outstanding common shares of PartnerRe. The total transaction is valued at USD 6.9 billion and is expected to close during the course of Q1 2016;
  • GALILEO RE LTD., Acted for a Bermuda domiciled special purpose insurer on the issuance of three tranches of Series 2016-1 catastrophe bond notes to support the risk transfer needs of XL Insurance (Bermuda) Ltd. and its affiliates. This was the first tranche of notes sponsored by XL Insurance (Bermuda) Ltd. since XL Group’s acquisition of insurance and reinsurance group specialist Catlin Group Limited;
  • AMERICAN SAFETY INTERNATIONAL HOLDINGS, LTD., Advised in the acquisition by Fairfax Financial Holdings Limited, a Canadian firm, of the shares of American Safety International Holdings, Ltd (ASI), a Bermuda domiciled specialist insurer and reinsurer with operations in Bermuda and the U.S.;
  • Advised a (re)insurance company on a joint venture with a private equity firm in the formation of a new Bermuda company that will be the holding company for funds offering insurance-linked  and traditional insurance products. Appleby’s role included incorporating the company and advising on elements of the joint venture, such as the constitutional documents and shareholders agreement;
  • VECTOR REINSURANCE LTD., Acted in the establishment of Vector Reinsurance Ltd., which is licensed as a special purpose insurer to participate in collateralised reinsurance and other non-traditional risk placements for the XL Group;
  • NEW OCEAN CAPITAL MANAGEMENT LIMITED., Launched an investment platform incorporating strategies dedicated to the insurance and reinsurance capital markets by New Ocean Capital Management Limited.

Education:

University of Alberta (Canada)

McGill University (Canada)

“Excellent, and frankly he really is my go-to guy there for anything that’s complicated. He’s got a good style to him, he’s very pragmatic, very responsive, and I’ve been very happy with him.”

IFLR1000

Updates

7 Dec 2021 | News

Appleby Bermuda Hires Two New Corporate Lawyers

Leading offshore law firm Appleby is delighted to welcome Katie Blundy and Carl Meyer to its Bermuda...

Contributors: Katie Blundy, Carl Meyer
10 Nov 2021

Appleby Top Ranked In Bermuda Across Six Practice Areas

Leading offshore law firm Appleby has received top rankings in the 2022 Legal 500 Caribbean Guide. L...

9 Nov 2021 | News

Two Pupils Join Appleby Bermuda Trainee Programme

Appleby would like to welcome Karim Creary and Kiara Wilkinson to its two-year legal trainee program...

5 Nov 2021 | News

Arielle Desilva Is Called To The Bemuda Bar

Appleby is delighted to announce that Arielle DeSilva was called to the Bermuda Bar on Friday 5 Nove...

26 Oct 2021 | News

Kaisha Wilson Is Called To The Bermuda Bar

Appleby is delighted to announce that Kaisha Wilson was called to the Bermuda Bar on Friday 15 Octob...

26 Oct 2021 | News

Zantae Dill Is Called To The Bermuda Bar

Appleby is delighted to announce that Zantae Dill was called to the Bermuda Bar on Friday 15 October...

21 Oct 2021 | News

Appleby Announce New Office Managing Partner In Bermuda

Leading offshore firm Appleby has appointed Brad Adderley as the new Office Managing Partner in Berm...

Contributors: Brad Adderley
1 Oct 2021 | News

Appleby Announce Two Partner And Two Counsel Promotions In Bermuda

Leading offshore firm Appleby is pleased to announced four promotions in the Bermuda office. Bermudi...

26 Aug 2021 | News

Appleby Bermuda Is An Official Partner Of France Sail Grand Prix Saint-Tropez

Leading offshore law firm Appleby is an Official Partner of the upcoming France Sail Grand Prix. Sai...

Contributors: Brad Adderley

Publications

16 Feb 2022

Chambers Insurance & Reinsurance Guide 2022: Bermuda

This guide provides the latest information on sources of insurance and reinsurance law, overseas-bas...

17 May 2021

Maintaining a robust profile at the top of multiple sectors

This Country Report provides the latest update on how Bermuda is positioning itself as the perfect b...

10 Feb 2021

Chambers Insurance & Reinsurance Guide 2021: Bermuda

This guide provides the latest information on sources of insurance and reinsurance law, insurance an...

4 Jun 2020

Financial crime in Bermuda: overview

A Q&A guide to financial and business crime law in Bermuda. This Q&A gives a high level o...

21 Jan 2020

Chambers Insurance & Reinsurance Guide 2020: Bermuda

First Published in Chambers Insurance & Reinsurance 2020 Guide

4 Sep 2019

Cyber insurance to drive innovation, take industry by storm

The structures and products developed to tackle cyber risk over the next five years will take the gl...

1 Jul 2019

Latest Developments in Bermuda’s Economic Substance Regime

The Economic Substance Amendment Act 2019 (Amendment Act) became operative on 28 June 2019. Bermuda ...

Contributors: Sally Penrose

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