Tim Faries

E [email protected]
T +1 441 298 3216

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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 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. 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 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

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
12 Aug 2021 | News

Appleby Bermuda Provides Summer Internships Across Practice Groups

Leading offshore law firm Appleby is delighted to provide internship opportunities to eight Bermudia...

10 Aug 2021 | News

Appleby Bermuda Awards 2021 Scholarships and Bursaries

Appleby’s Bermuda office is pleased to award four education scholarships and bursaries in 2021. Th...

7 Jul 2021

Economic Substance: Bermuda Expands Regime To Include All Partnerships

The Economic Substance Amendment Act 2021, which became operative on 30 June 2021, has expanded the ...

Contributors: Sally Penrose
30 Jun 2021 | News

Appleby team helps restore Warwick Pond’s native Bermudian ecosystem

Leading offshore law firm Appleby organised an employee volunteer day at Sherwin Nature Reserve to s...

21 May 2021 | News

Appleby Global Services to sponsor 46th Bermuda Festival of the Performing Arts

Appleby Global Services (AGS) Bermuda are pleased to once again sponsor the Bermuda Festival of the ...

3 May 2021 | Deals

Appleby acted as Bermuda counsel to e-TeleQuote

Appleby acted as Bermuda counsel to Etelequote Limited in connection with the sale of its operating ...

22 Apr 2021 | News

Appleby Donates $25,000 to Bermuda Hospital Vaccination Clinic

Leading offshore law firm Appleby has donated $25,000 to the Bermuda Hospitals Charitable Foundation...

Publications

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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