Walkers Bermuda Acts as Counsel to Fleming Reinsurance Ltd in Acquisition of Locally Domiciled Captive Insurer

Walkers were pleased to act as Bermuda counsel to Fleming Reinsurance Ltd. ("Fleming") in connecting with its agreement to acquire Sinclair Insurance Company ("Sinclair"), a captive insurer domiciled in Bermuda.

Sinclair has operated in Bermuda for 35 years and has provided workers' compensation as well as general and products liability and commercial auto lines of business. Sinclair was used to provide reinsurance to the primary insurers of affiliated companies.

Fleming's acquisition provides Sinclair's shareholders with an absolute exit solution, allowing for operating expenses to be completely eliminated and capital to be released.

Acting alongside Sinclair's advisors at Aon, the Walkers team was led by Bermuda partners Natalie Neto and Peter Dunlop and supported by senior associate Rachel Nightingale.