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Conyers Dill & Pearman acted as offshore counsel on the award-winning Non-Life Transaction Award at the annual Trading Risk Awards.
Conyers acted on four of the five deals short-listed in that category, with PennUnion Re: GC Securities and Goldman Sachs for Amtrak being the winning transaction.
Charles Collis, Director and Head of the Bermuda Insurance practice, said: “2015 was an active year in Bermuda’s (re)insurance sector. We were pleased to see our clients nominated for the award and congratulate PennUnion Re on their win”.
Details of the award-winning transaction:
Conyers Dill and Pearman advised PennUnion Re Ltd. On its issuance of US$275,000,000 Series 2015-1 Class A Principal At-Risk Variable Rate Notes due 7 December 2018 Pursuant to its Note Program. In order to fully collateralise a reinsurance agreement with Passenger Railroad Insurance, which in turn will provide coverage to Amtrak.
Globally, Conyers’ Insurance practice is recognised as a leader by the top onshore firms. We act for the large majority of Bermuda’s insurance and reinsurance companies, advising two-thirds of all Class 4 and Class E companies (the largest of the commercial insurers), as well as a substantial majority of all other classes of insurers, including captive insurers and special purpose insurers. We have consistently incorporated more new insurance companies than all other law firms in Bermuda combined, and provide comprehensive on-going legal and regulatory advice to such insurers following formation and licensing.
The Trading Risk Awards is an annual ceremony that brings together the top practitioners from the (re)insurance market to acknowledge the hard work and professionalism exhibited throughout the industry.