Walkers works for a US$535million insurer and reinsurer listing on the NYSE

Walkers' expert knowledge of insurance and reinsurance law for the Bermuda jurisdiction

Drafting Bermuda-specific risk statements alongside a range of listing documents required specialist knowledge of the jurisdiction and a deep understanding of the commercial realities of the global insurance and reinsurance industry. We provided essential Bermuda input for admission documents, corporate approvals, shareholder circulars, proxy statements and resolutions, along with legal opinions for underwriters and amending company by-laws to align with the company's Bermuda listed entity.

Employment regulatory implications in Bermuda when planning to list on the NYSE

The company’s employee incentive plans and any potential employment issues were an important part of our team’s work too. With the listing running to tight commercial deadlines, this demanded swift and definitive perspectives on the regulatory implications of this important listing.  With a multi-disciplinary team familiar with the insurance and reinsurance industry we were able to deliver this seamlessly and keep the listing on target. 

The team worked alongside Sidley Austin LLP in New York - onshore counsel for private equity group Apollo owned Aspen.

Sarah Demerling, partner in Bermuda, said: “The incredible fast-pace of this proposed listing made it particularly significant for us and demanded all of our extensive Bermuda specialist insurance experience. The client was reorganising ahead of the listing and Bermuda’s corporate income tax regulations were set to change at the end of 2023 – realities that put added pressure on the delivery of sound commercial advice quickly and effectively.” 

Partners Sarah Demerling, Rachel Nightingale, and Natalie Neto took the lead, with support from senior associate Marah Smith, and associate Amelia Oatley.