Appleby has acted as Bermuda counsel to Integral ILS regarding the insurance-linked securities (ILS) fund manager’s total investor commitments of more than US$1.4 billion. Integral ILS is focused on natural catastrophe-linked insurance and reinsurance transactions, while offshore law firm Appleby provides advisory services for the establishment, regulatory compliance and business operations of insurance and reinsurance companies. This includes special purpose insurers, captive and rent-a-captive programmes, segregated accounts and portfolio companies, and collateralised reinsurance, as well as mergers and acquisitions, capital raising, and insurance portfolio transfer. Founded in July 2020, Integral ILS has received several new commitments from institutional investors on top of increased allocations from its cornerstone investors, New Holland Capital and the Public Sector Pension Investment Board. The transactions were advised by Appleby’s Bermuda managing partner Brad Adderley, as well as partner Matthew Ebbs-Brewer and associate Arielle DeSilva. Richard Lowther, co-founder and managing partner at Integral ILS, comments: “Our assets under management growth is a testament to the demand we have seen among sophisticated institutional investors to add catastrophic risk to their portfolios, especially those looking for alternatives to fixed income and credit strategies.” Adderley adds: “Congratulations to the Integral ILS team on their tremendous capital raising success in their first 18 months. We look forward to working with such a dynamic team for many years to come.”
