Conyers acted as special Bermuda counsel, advising on the establishment and licensing of Sanders Re III Ltd. as a special purpose insurer. The transaction included the issuance of US$550,000,000 Series 2022-1 Principal-at-Risk Variable Rate Notes due 7 April 2026 to investors.

Conyers’ role included assisting with the preparation of documents, registering the company with the Bermuda Monetary Authority as a special purpose insurer, registering the company with the Registrar of Companies as a segregated accounts company, facilitating the listing of the notes on the Bermuda Stock Exchange and providing Bermuda law advice to the company up to closing.

Director Jacqueline King and Associates William Cooper and Davina Hargun of Conyers’ Bermuda office advised on the matter.

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