Conyers is advising The Carlyle Group on its acquisition of a 71.5% stake in Fortitude Group Holdings, which holds the Bermuda registered Class 4 and Class E insurer, Fortitude Reinsurance Company Ltd. (“Fortitude Re”) from AIG.

Conyers’ role in this transaction is to provide Bermuda legal and regulatory advice in connection with obtaining all of the necessary Bermuda Monetary Authority approvals which included change of controller applications and the Authority’s approval to terminate the existing US$550 million letters of credit and replace those letters of credit with another source of statutory capital for Fortitude Re.

Director Charles Collis and Associate Jacqueline King of Conyers’ Bermuda office advised on the matter, working alongside Debevoise & Plimpton LLP.

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