Sarah Demerling
Partner
Bermuda
We recently acted as Bermuda counsel advising on the establishment and licensing of Maschpark Re Ltd. as a special purpose insurer with the Bermuda Monetary Authority.
Our team was delighted to advise Talanx AG, in cooperation with its subsidiary, Hannover Re, on its debut catastrophe (cat) bond – a US$100m cat bond covering earthquake risks in Chile. The parametric cover provided by the cat bond means that the amount available under the bond to meet losses incurred by Talanx depends on the strength of an earthquake.
Our Bermuda team acted as listing sponsor for Maschpark Re Ltd. for its Series 2024-1 Principal At-Risk Variable Rate Note Program and US$100m Series 2024-1 Class A Principal At-Risk Variable Rate Notes due 10 January 2028, which were listed on the Bermuda Stock Exchange.
The team comprised partners Sarah Demerling and Nathalie West, senior associate Jack Ellison, and associates Aleisha Hollis and Karina Skinner.
Congratulations to Talanx AG and the entire working group, including AON Securities LLC and GC Securities, a division of MMC Securities LLC acting as placement agents. It has been a pleasure assisting with this transaction and working with you.
Visit the Artemis.bm listing for more information.
