Sep 2023
Conyers advised on the establishment of incorporated segregated accounts company Monarch Point Re (ISAC) Ltd., and the subsequent licensing of it and related incorporated segregated accounts as Bermuda Collateralized Insurers.
Bermuda-based specialty insurer and reinsurer Axis Capital and Connecticut-headquartered alternative investment firm Stone Point Credit recently launched Monarch Point Re (ISA 2023) Ltd. with a multi-year reinsurance agreement effective 1 January 2023.
The launch of Monarch Point Re was accompanied by a capital raise of more than US$400 million of equity from a group of global investors, including a US$75 million equity investment from an Axis Capital subsidiary, and a US$75 million equity investment from Stone Point Credit.
This matter was advised by Director Jacqueline King and Associate Kathleen McBeath, alongside Latham & Watkins LLP.