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
2016

Updates

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...

12 Mar 2020 | News

Appleby hires two Compliance Officers

Appleby Bermuda is pleased to welcome Rebecca Holloway and Joy Martin as compliance officers within ...

6 Mar 2020 | News

Bermuda tables immigration changes for mixed-status families

The Government of Bermuda tabled in the House today a Bill which would amend the Bermuda Immigration...

18 Feb 2020 | News

Bermuda Joins EU Whitelist

The Economic and Financial Affairs Council (ECOFIN) announced today that Bermuda has moved to the ...

Contributors: Sally Penrose
12 Feb 2020 | News

Appleby Global Services celebrates first year with 100 structures in Bermuda and an all-Bermudian team

Appleby Global Services (AGS), Appleby’s specialist trust and corporate services provider recently...

Contributors: Tonesan Amissah
20 Jan 2020 | News

Bermuda Recognised as a Global Leader in the Fight Against Financial Crime

Bermuda has made significant strides in strengthening its overall Anti-Money Laundering and Anti-Ter...

Contributors: Sally Penrose
20 Jan 2020 | News

Appleby Bermuda in Miami for the World Captive Forum

The World Captive Forum will be held in Miami, Florida from 27-29 January 2020.

Contributors: Matthew Carr, Eduardo Fox

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