Nov 2025
Conyers acted as special Bermuda counsel advising on the establishment and licensing of Bellemeade Re 2025-1 Ltd. as a special purpose insurer. The transaction included the issuance of a total of US$199,295,000 Series 2025-1 Mortgage Insurance-Linked Notes due October 25, 2035 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 (BSX) alongside Conyers Securities (Bermuda) Limited as listing sponsor, and providing Bermuda law advice to the company up to closing.
This vehicle was sponsored by Arch Mortgage Insurance Company and United Guaranty Residential Insurance Company. This is Arch’s first transaction since August 2024 and is its 22nd mortgage ILS issuance under the Bellemeade Re platform.
Director Alexandra Macdonald and Associate Nicole Yearwood 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.
Counsel David Stubbs and Associate Nazari Woods of Conyers Securities (Bermuda) Limited acted as Listing Sponsor and advised on the listing of the notes on the BSX.