Bio

Timothy Faries is the Bermuda Office Managing Partner and has overall responsibility for managing the operations of Appleby’s Bermuda office. He is also the Bermuda Group Head of the Corporate department and the Insurance and Reinsurance global sector leader.

Tim leads a team of lawyers who specialise in all manner of non-contentious corporate insurance work, including life and general insurance and reinsurance, mutual insurance and structured risk financing. 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 2020 and clients say: “He is very eloquent and knowledgeable of the law”. The Bermuda Insurance team is also top-ranked in Band 1 by Chambers Global. Clients regard the insurance department as “responsive, very client-oriented and a cut above the rest.”

Tim is also consistently recommended by Legal 500 Caribbean and recognised as a ‘Leading Individual’ in both their Insurance/Reinsurance and Corporate and Commercial rankings. 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.

Recent examples include:

 

Expertise:

Tim´s recent transactions include:

  • 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

24 Jul 2020 | News

Appleby Bermuda announce 2020 Scholarship and Bursary Recipients

For the last 40 years, the Partners of Appleby in Bermuda have provided scholarships and bursaries t...

6 Jul 2020 | News

Appleby Global Services announce new leadership team

Appleby Global Services (AGS) a global fiduciary services provider which was launched by offshore la...

14 May 2020 | News

Anti-takeover strategies during COVID-19

The unprecedented market volatility and substantial declines in stock prices that we have witnessed ...

1 May 2020 | News

Bermuda Launches Economic Substance Declaration Portal

Today marked a significant milestone in Bermuda’s economic substance regime with the launch of the...

Contributors: Sally Penrose
29 Apr 2020 | Analysis

COVID-19 Merger and Acquisition Update

In these uncertain times we have had numerous enquiries from clients as to what we think is going to...

24 Apr 2020 | News

Bermuda Re/Insurance Update: Agility and Innovation at the Forefront

Bermuda’s re/insurance industry has displayed remarkable agility while adapting in response to the...

Contributors: Brad Adderley, Alan Bossin
23 Apr 2020 | News

Corporate Governance during COVID-19

In each of Appleby’s jurisdictions, measures have been taken to combat the spread of COVID-19. Wh...

14 Apr 2020 | News

Bermuda’s Investment Funds Rules and Offering Documents

We previously provided an update that Bermuda’s Investment Funds Act 2006 (IFA) had been amended w...

Contributors: Matthew Ebbs-Brewer
30 Mar 2020 | News

Appleby Bermuda supports local restaurants with ‘virtual’ gift cards for all its employees

Appleby’s Bermuda office is supporting local restaurants by giving all its employees $100 gift car...

18 Mar 2020 | News

Appleby Bermuda’s COVID-19 Update – Our Commitment to Clients and Employees

We are following very closely the rapidly changing developments around the global coronavirus pandem...

Publications

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 |

Bermuda Law & Practice

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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