Matthew Cowman
Managing Partner
British Virgin Islands
Our team contributed to the Corporate M&A 2026 guide, covering legal and regulatory developments in the Cayman Islands, Bermuda and British Virgin Islands (BVI).
The guide provides key legal insights on company acquisitions, takeover rules and related regulatory frameworks across more than 90 jurisdictions.
Cayman Islands M&A trends 2025
The Cayman Islands strengthened its position in 2025 as the leading offshore financial centre, continuing to dominate in investment funds and playing a growing role in global M&A and IPO activity. This was driven by legislative reforms, a robust legal system and stable market conditions. The jurisdiction also saw a resurgence in SPAC formations accounting for around 95% of new SPACs alongside active dealmaking across restructurings, joint ventures and venture capital transactions.
The section was contributed by partners Jason Allison, Michael Beck, Christopher Brett Young, and James Murrie.
Renewed momentum in Bermuda’s M&A market
The Bermuda chapter outlines the key trends shaping deal activity in a leading offshore financial centre closely aligned with US and European markets. After a cautious rebound in 2025, M&A activity has been driven by improving economic conditions, with a focus on larger transactions and continued strength in sectors such as insurance, shipping, energy and fintech. The guide highlights Bermuda’s role as a major (re)insurance hub, ongoing consolidation across that sector and increasing transactional activity linked to regulatory developments, including the introduction of a corporate income tax regime aligned with global standards.
The guide was authored by partners Natalie Neto, Rachel Nightingale, Hannah Tildesley and senior associate Marah Smith.
BVI: M&A market developments
The British Virgin Islands chapter highlights the jurisdiction’s role as a global hub for cross‑border transactions, reflecting broader international deal trends. In 2025, M&A activity was characterised by larger deal sizes despite lower volumes, with transactions concentrated in sectors such as technology, life sciences and digital assets. The guide also notes continued use of BVI structures for take‑private transactions and complex cross‑border deals, alongside a revival in SPAC activity and an increase in distressed M&A driven by higher interest rates.
The BVI guide was written by partners Matthew Cowman, Alex Drysdale, Rosalind Nicholson and Omonike Robinson-Pickering.
