Walkers Acts on Kettle Limited's Bermuda Innovative Agent Licence

Walkers is pleased to have acted as Bermuda counsel to Our Kettle, Inc in relation to the formation of Kettle Limited in Bermuda and its recent granting of a Bermuda Innovative Agent Licence. This insurtech sandbox licence represents an innovative and exciting new source of reinsurance business for Bermuda reinsurers supporting Kettle Limited, which utilises Our Kettle, Inc's artificial intelligence and machine learning technology to analyse data from 47 different sources, including NASA satellites, weather satellites and laser-based Lidar mapping sensors in order to predict more accurately the likelihood of California wildfires in any given square mile.

With the increased frequency and severity of wildfire loss events in California, Kettle Limited takes advantage of disruptive data analytics to better predict risk of loss and thereby better source, price and distribute reinsurance coverage to insurers across the state of California, while providing the Bermuda reinsurance market with a robust and well packaged business line in this most volatile of risk areas in the global catastrophe market today.

Walkers was led by Bermuda partners Peter Dunlop and Natalie Neto, supported by Senior Associate Rachel Nightingale.