Seawall Re Ltd.’s Establishment and Licensing as a Restricted Special Purpose Insurer

Aug 2025

Conyers acted as special Bermuda counsel, advising on the establishment and licensing of Seawall Re Ltd. as a restricted special purpose insurer.

The transaction included the issuance of preference shares to investors in the total amount of US$50,000,000 in connection with writing collateralised reinsurance contracts with Anchor Re Ltd. with respect to business produced by subject Carriers of SageSure Insurance Managers LLC (“SageSure”). This is SageSure’s debut reinsurance sidecar transaction diversifying its capacity solutions supporting its underwriting operations in catastrophe-exposed markets.

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, and providing Bermuda law advice to the company up to closing.

Director Alexandra Macdonald, Associate Nicole Yearwood worked 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.