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Conyers Dill & Pearman provided Bermuda legal and regulatory advice in relation to the formation and group structure of the Langhorne Group, including Langhorne Reinsurance (Bermuda) Ltd. (”Langhorne Re”), and its US$780 million private placement.
RenaissanceRe Holdings Ltd (“RenaissanceRe”) and Reinsurance Group of America, Incorporated (“RGA”) teamed up to launch a third- party capital backed life and annuity reinsurance start-up, Langhorne Re. Langhorne Re secured US$780 million of equity capital commitments including investments from RGA and RenaissanceRe.
Langhorne Re will combine a strong long-term capital base with underwriting and third-party capital management support from RGA and RenaissanceRe to purchase large inforce life and annuity blocks, allowing clients to de-risk and optimise their capital management.
Directors Michael Frith and Neil Henderson and Associates Jennifer Panchaud and William Cooper of Conyers’ Bermuda office worked on the matter.