Paul Scrivener is an independent consultant and an acknowledged expert in insurance and reinsurance where he has a particular focus on captive insurance. He was formerly a senior partner and head of insurance at another Cayman Islands law firm that he joined as a partner in 1998. Prior to that Paul was a partner with Eversheds in the UK where he handled a wide range of corporate work.
Paul works with a wide array of insurers, reinsurers, captive owners, insurance managers and insurance consultants. His advice includes the formation, restructuring and liquidation of insurance and reinsurance entities and the review or preparation of constitutional documents, shareholder agreements, participation agreements, information memoranda, reinsurance agreements, letters of credit, loss portfolio transfers and commutation agreements. He has particular expertise in relation to cell companies and portfolio insurance companies and has been involved in many insurance mergers and redomestications.
Paul has been a speaker at many international insurance conferences and a regular contributor to industry publications. He has been actively involved in the Cayman insurance sector sitting on various committees including the Cayman Islands Financial Services Legislative Committee, a public/private sector committee tasked with keeping Cayman Islands financial services legislation under review. Paul was instrumental in developing Cayman’s cutting edge Portfolio Insurance Company structure and assisting government with implementing the legislation. He has been consistently ranked for many years by Chambers Global and Legal 500 and has been described by Chambers Global as “an outstanding, extraordinarily responsive lawyer whom clients consider to be approachable, knowledgeable and a pleasure to work with.”
What a year it has been since our last Insurance Bulletin in March 2020. Although the full impact of Covid-19 on the re/insurance industry remains unclear, the need to retain capital to meet potential losses has contributed to a general hardening of the market after 15 years of soft market conditions characterised by excess capacity, low prices and more relaxed policy terms.