Walkers Acts as Bermuda Counsel to Inigo Insurance in US$115 million Multi-Peril Catastrophe Bond

Walkers has acted as Bermuda counsel to Inigo Insurance, a London-based specialty insurance and reinsurance underwriter at Lloyd's, in relation to Montoya Re Ltd., a Bermuda special purpose insurer and issuer of a $115 million multi-peril cat bond.

Launched on 30 March 2022, the Montoya Re Ltd Series 2022-1 cat bond benefits Inigo's Lloyd's Syndicate 1301 and provides aggregate reinsurance protection for international natural catastrophe perils on an indexed trigger basis, for a three year term.

Walkers' Bermuda insurance team was senior associate Melanie Fullerton and associate Malacia Madden, led by partners Peter Dunlop and Sarah Demerling, who worked on the formation and licensing of Montoya Re Ltd and advised on the Bermuda aspects of the cat bond issuance. Walkers Bermuda's listing team of partner Natalie Neto and associate Julian Wheddon acted as BSX listing sponsor of the cat bond.

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