May 2023
Conyers advised special purpose insurer Alamo Re Ltd. on Bermuda law matters in connection with its new catastrophe bond issuance of US$500 million Series 2023-1 Class A Principal At-Risk Variable Notes, which are listed on the Bermuda Stock Exchange and due 7 June 2026.
Hannover Rück SE, one of the largest reinsurance groups in the world, sponsored the issuance, which will provide coverage with respect to reinsurance protection provided by Hannover to Texas Windstorm Insurance Association for losses resulting from named storms and severe thunderstorms in Texas.
Conyers Director Alexandra Macdonald and Associate Lauren Pereira worked alongside Mayer Brown LLP of New York.
More information is available here.