Alexandra Macdonald

Director

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Alexandra Macdonald is a Director in the Bermuda Corporate practice. Alexandra’s practice includes all aspects of corporate and commercial law in Bermuda, with a focus on insurance and investment fund law and regulation.

Alexandra specialises in incorporating and licensing insurers and reinsurers, including captives, special purpose insurers, sidecars and segregated account companies and in the creation and offering of cat bonds. She has advised on the formation, licensing and listing on the Bermuda Stock Exchange of numerous cat bond special purpose insurance vehicles. Alexandra also has expertise in establishing investment funds, including hedge funds, private equity vehicles, closed ended funds, and master and feeder structures.

She has an active general corporate practice, including advising on the Bermuda law and regulatory aspects of acquisitions, continuations, amalgamations and reorganisations for both local and exempted companies.

Jurisdiction

Bermuda

Experience

Advised China Re on its USD 50 million Rule 4(2) Note, the first Chinese catastrophe bond transaction. The deal included the formation of a Bermuda special purpose insurer, Panda Re Ltd., established for the purpose of issuing cat bond notes which are listed on the Bermuda Stock Exchange. The issuance provided China Re with protection against Chinese earthquake exposures.
Advised Munich Re on the renewal of its fully collateralised reinsurance sidecar. The transaction used the existing special purpose insurer, Eden Re II Ltd. acting for and on behalf of the Segregated Account 2016-1, to offer two classes of cat bond notes. In particular, the Class B Notes were offered as a private placement to investors in the 2015 sidecar using a roll-forward mechanism.
Advised on the formation and registration of a new standard investment fund, including the preparation of offering documents and service provider agreements.
Providing advice to a leading investment fund in respect of its on-going regulatory and filing requirements.