According to figures published by Artemis, the Bermuda (re)insurance market benefited from this booming industry, with 75% of ILS transactions completed in 2015 taking place in Bermuda. Additionally, according to reports by the Bermuda Stock Exchange, 67% of all ILS transactions completed in 2015 were listed in Bermuda.

Appleby Bermuda, which has played a significant role in the ILS sector in recent years, continued to consolidate its presence in the ILS market. In particular, Appleby Bermuda acted on over two-thirds of Bermuda’s ILS transactions, including the majority of Bermuda’s collateralised reinsurance (or ‘cat bond lite’) transactions.

Appleby has seen a marked increase in the use of collateralised reinsurance programmes in recent years. Such programmes (which are often bespoke reinsurance structures that utilise an SPI or a more traditional ‘transformer’ vehicle, often with segregated accounts) offer sponsors a faster, more cost-effective access point to the ILS market, particularly when compared with more traditional cat bond transactions.

Should you have any queries or wish to obtain any advice regarding ILS transactions, please do not hesitate to contact us.

Share
Twitter LinkedIn Email Save as PDF
More Publications
5 Dec 2022

Business Crime and Investigations in Bermuda: Overview

A Q&A guide to business crime and investigations in Bermuda.

24 Nov 2022

Information Technology, Outsourcing, Privacy & Data Protection

All aspects of Bermuda's economy rely on information technology and data processing - an essential i...

Contributors: Duncan Card
22 Nov 2022

A Look Back on 2022 and What to Expect for 2023

As we approach the end of 2022, we are able to look back and say with certainty that the arena of la...

14 Nov 2022

When will the court enforce a promise?

As we all know, promises are made and broken all the time. What, if anything, can the law do to assi...

4 Nov 2022

Legally speaking: what not to do when outsourcing operations

In the course of my career, I have drafted, negotiated or otherwise provided commercial and legal ad...

1 Nov 2022

The Insolvency Review – Edition 10

The Insolvency Review offers an in-depth review of the most consequential features of the insolvenc...

25 Oct 2022

Bermuda: Mergers & Acquisitions Comparative Guide 2022

This country-specific Q&A provides an overview to Mergers & Acquisitions laws and regulati...

Contributors: Katie Blundy
24 Oct 2022

Directors’ duties on the eve of insolvency

It is common knowledge that directors of companies owe a duty to the company to act in its best inte...

Contributors: James Batten
13 Oct 2022

Employee probation periods: an update

The Employment Act 2000 is the island’s key piece of employment legislation, applicable to employe...

Contributors: Kiara Wilkinson
6 Oct 2022

Centre Stage: Bermuda’s Role In An Insurtech Revolution

Bermuda is rapidly becoming a focus for insurtechs seeking the island’s expertise, the accessibili...