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Chris Garrod

Director, Head of Fintech

Bermuda  +1 441 299 4923

Chris Garrod

      

Chris Garrod is a Director in the Corporate department of Conyers Dill & Pearman. He is Head of Fintech in Bermuda and is a member of the Firm's insurance practice.

Chris specialises in advising on reinsurance and ILS structures, including large commercial insurers, life reinsurers, special purpose insurers, cat bonds, sidecars and segregated account vehicles. In addition to his insurance practice, he also advises on all aspects of Bermuda corporate law, including mergers and acquisitions, takeovers, reorganisations and re-domestications. He has also formed cryptocurrency vehicles using blockchain-based technology, forming Bermuda’s first digital token issuer in late 2017. Chris is also a member of the Government of Bermuda’s Blockchain legal and working group and the Bermuda Business Development Agency’s Blockchain working group.

With over 15 years of experience working in Bermuda's reinsurance market, Chris acts for a number of large commercial insurers/reinsurers including Assured Guaranty, Chubb, Essent Re, Everest Re, Markel Corporation, Sirius International Insurance Group, Tokio Millennium Re, White Mountains Insurance Group, XL Group, and Zurich Insurance Group.

He has also been involved in the formation of a number of segregated account “alternative” reinsurance and ILS platforms, acting for reinsurers, investment hedge funds, investment managers, pension plans, investment banks and listed companies. Additionally, he acts for numerous Lloyd’s syndicates which have Bermuda platforms. Finally, Chris sits on various reinsurance and captive boards in a non-executive capacity advising on Bermuda insurance regulatory and general corporate legal updates to those boards.

Internationally recognised as a leading lawyer, Chris has been recommended in a number of legal directories including Chambers Global and Legal 500, where clients note that his “main strengths are his responsiveness and depth of knowledge” and that he is “very knowledgeable about Bermuda regulations and has a good working relationship with the Bermuda Monetary Authority”.

Experience Highlights

  • Acting for AXA in its pending US$15.3 billion acquisition of XL Group
  • Acted for OneBeacon Insurance Group, Ltd. and White Mountains Insurance Group, Ltd. in connection with the US$1.7 billion acquisition of OneBeacon by Intact Financial Corporation.
  • Advised Sirius International Group on the issuance of SEK 2.75 billion (approximately US$340 million) floating rate callable subordinated notes, due 2047, the largest SEK insurance hybrid issuance to date.
  • Acted for Bermuda based mortgage insurer and reinsurer Essent Group Ltd. in connection with providing Bermuda legal advice related to its US$200 million secondary public offering of five million common shares.
  • Acted for Sears Holdings Corporation in connection with providing Bermuda insurance regulatory advice related to the sale of its Craftsman tool brand, valued at US$900 million, to Stanley Black & Decker.
  • Acted for Lloyd’s syndicate Neon Underwriting in connection with the formation and licensing of Neon’s office in Bermuda.
  • Advised Sirius International Group on the issuance of US$400 million senior notes due 2026, of which approximately two-thirds were allocated to leading institutional investors in Asia.
  • Advised Somerset Reinsurance Ltd. on its US$375 million common share capitalization and registration as a Bermuda Class E life and annuity insurer.
  • Acted as Bermuda counsel for White Mountains Insurance Group, Ltd. in connection with its sale of Sirius International Insurance Group to CM International.

Professional Background

  • Trainee solicitor, Denton Hall

Education

  • The College of Law, Diploma in Law and Post-graduate Diploma in Legal Practice (with Commendation)
  • University College London, Anthropology and Geography, B.A. (First Class Honors)

Bar Admissions

  • Bermuda, 1998
  • Solicitor, Supreme Court of England & Wales, 1997

10 Sep 2018
Blockchain, Cryptocurrencies and ICOs: An Offshore Lawyer’s Perspective

21 Aug 2018
Bermuda Creates Legislative Framework to Promote Insurtech Innovation

10 Aug 2018
Digital Asset Business Act Marks a New Chapter in Bermuda’s Fintech Revolution

31 Jul 2018
IFCs, ICOs and Blockchain: Time to Pay Attention

16 Jul 2018
Bermuda ICO Legislation & Regulations Take Effect

13 Jun 2018
Setting Up A Bermuda (Class 2) Captive Insurer

13 Jun 2018
Setting Up A Bermuda (Class 1) Captive Insurer

14 May 2018
Bermuda’s FinTech Triangle: Blockchain, ICOs and Virtual Currencies

03 May 2018
Insurtech: Demystifying the Hype

16 Apr 2018
Bermuda Tables Initial Coin Offering (ICO) Legislation

01 Feb 2018
Why is Crypto so important and should I care?

12 Jan 2018
Conyers advised on the formation of iCash Ltd., and the creation of its Ethereum blockchain-based token, iCash

31 Oct 2017
Conyers Advises on First Cryptocurrency Launch in Bermuda

11 Oct 2017
Law firm disruption: the inevitability of blockchain everywhere

28 Mar 2017
Congratulations to our Corporate, Insurance, Dispute Resolution and Private Client & Trust teams on their Chambers & Partners Recognition

08 Mar 2017
Bermuda Insurance Update - 2016 Year in Review

22 Feb 2017
Opinion: How Bermuda turns uncertainty into opportunity

31 Jan 2017
Bermuda Corporate Practice Group 2016 Year in Review

07 Oct 2016
Are UK insurers heading to Bermuda post-Brexit?

22 Jul 2016
Bermuda Insurance Update - July 2016

31 Mar 2016
New Bermuda Legislation: Contracts (Rights of Third Parties) Act, 2016

11 Mar 2016
Bermuda's Competitive Insurance Advantage

29 Jan 2016
Bermuda Corporate Practice Group 2015 Year in Review

15 Jan 2016
Bermuda Insurance Update - January 2016

30 Sep 2015
Bermuda Insurance Update Q3 - September 2015

23 Jul 2015
Chris Garrod participates in Xuber’s Executive Bermuda Roundtable: Removing the Constraints to Growth

13 Feb 2015
Bermuda Corporate Practice Group 2014 Year in Review

16 Oct 2014
Offshore award for Conyers at 2014 US Captive Services Awards

10 Jan 2014
ILS and the Convergence of Insurance and Funds in Bermuda

08 Nov 2013
Chris Garrod discusses the rise of ILS in Global Reinsurance magazine

13 Jan 2012
Bermuda Monetary Authority's Group Supervision Rules and Group Solvency Rules

13 Jul 2011
Conyers named Bermuda Law Firm of the Year for sixth year

05 Mar 2018
Conyers advises AXA in connection with its US$15.3 billion agreement to acquire XL Group

12 Jan 2018
Conyers advised on the formation of iCash Ltd., and the creation of its new Ethereum blockchain-based token, iCash

31 Oct 2017
Conyers advises on the first Cryptocurrency launch in Bermuda

29 Sep 2017
Conyers advises OneBeacon Insurance Group, Ltd. and White Mountains Insurance Group, Ltd. in connection with the US$1.7 billion acquisition of OneBeacon by Intact Financial Corporation

22 Sep 2017
Conyers advised Sirius International Group Ltd. on its Swedish Krona (“SEK”) 2.75 billion (approximately US$340 million) Floating Rate Callable Subordinated Note offering

11 Aug 2017
Conyers advises Essent Group Ltd. in connection with a public offering of five million common shares

01 Nov 2016
Conyers advises Sirius International Group Ltd. on its issuance of US$400 million 4.6% Senior Notes

19 Oct 2016
Conyers advises Somerset Reinsurance Ltd. on its US$375 million common share capitalization

14 Apr 2014
Conyers advises on the licensing of Watford Re Ltd. as a Class 4 insurer

20 Nov 2013
Conyers advises Essent Group Ltd on US$335 million IPO

22 May 2013
Conyers advises Allstate Insurance Company on US$350 million catastrophe bond deal

30 Nov 2012
Conyers advises Validus Holdings, Ltd. on its acquisition of Flagstone Reinsurance Holdings S.A.

09 Nov 2012
Conyers advises OneBeacon Insurance Group, Ltd. on US$275 million debt offering of OneBeacon U.S. Holdings, Inc.

12 May 2010
Conyers advises on Max Capital Group and Harbour Point Merger - May 2010

  • Recognised in the 2018 edition (and since 2014) of Legal 500 Caribbean (insurance/reinsurance)
  • Recognised in the 2017 edition (and since 2011) of Chambers Global (insurance)
  • Recognised in the 2015 edition (and since 2011) of Who's Who Legal (insurance and reinsurance)
  • Recognised in the 2015 edition of Legal Media Groups' Expert Guides (insurance and reinsurance)
  • Recognised in the 2010 edition of Chambers Global (corporate and finance)
  • ILS Bermuda Steering Committee Member
  • Bermuda Foundation of Insurance Studies Member