Apr 2026
Conyers advised on the establishment and licensing of Abacab Re Ltd. as a special purpose insurer. The transaction included the issuance of a total of US$120 million Series 2026-1 Class A Principal At-Risk Variable Notes due 13 April 2029 to investors.
Conyers’ role included assisting with the preparation of documents, registering the company with the Bermuda Monetary Authority, facilitating the listing of the notes on the Bermuda Stock Exchange alongside Conyers Securities (Bermuda) Limited as listing sponsor and providing Bermuda law advice to the company up to closing.
This vehicle was sponsored by Olympus Insurance Company. This is Olympus’ first catastrophe bond.
Director Alexandra Macdonald and Associates Nicole Yearwood and Celine Collis of Conyers’ Bermuda office advised on the matter, working alongside Willkie Farr & Gallagher LLP as legal advisers to the Issuer. Private Client Director Davina Hargun and Associate Angelica Wales also assisted with the set up.
Conyers’ affiliate Conyers Securities (Bermuda) Limited, represented by Counsel David Stubbs and Associate Nazari Woods acted as listing sponsor.