Nick Miles

Practice Areas

A partner in Kennedys’ Bermuda office, Nick's practice encompasses insurance and reinsurance, corporate, insolvency and restructuring and banking and finance matters. He is admitted as a Barrister and Attorney of the Supreme Court of Bermuda and is admitted and enrolled as a Solicitor of the Senior Courts of England and Wales.

Career

Nick advises insurers, reinsurers, insurance intermediaries, policyholders and investors in the insurance industry on a range of regulatory and corporate matters, including licensing of entities registered under the Insurance Act 1978, mergers and amalgamations, continuances and discontinuances and public and private offerings of securities. He advises clients from all sectors on restructuring and insolvency matters and advises on compliance with Bermuda’s new “economic substance” legislation.

Work Highlights

- Corebridge Insurance Company of Bermuda, Ltd., on the establishment of its new affiliate life and annuity reinsurance business in Bermuda, including building out governance, risk management framework and policies and procedures, and various transactions.

- Deloitte China in Re Ping An Securities Group (Holding) Ltd [2022] SC (Bda) 25 Com (8 April 2022), successfully securing an order appointing the nominees of a minority of creditors as joint liquidators, and defeating a rival application brought by the nominees of the majority of creditors, in the interests of the proper administration of the liquidation.

- Acting for the debtor company in Re Fullsun International Holdings Group Company, Ltd [2022] Bda LR 54, successfully securing orders adjourning hearings of a creditor winding up petition pending promotion, meetings and sanction of a Scheme of Arrangement.

- Recovery of collateral from a collateralized re transaction subject to contested ownership in connection with the Scheme of Arrangement between R&Q Re (Bermuda) Ltd. and its creditors.

- A Class C long-term insurer operating in the High Net Worth space, on a successful regulatory approval application to the BMA relating to a novel structure involving investments in bitcoin.

- Liquidators of VL Assurance (Bermuda) Ltd., an insolvent Class C insurer, on a wide range of matters arising in the course of the liquidation.

- A Class 3B insurer on an intended redomiciliation to Cayman.

- A Class C insurer on an intended cross-border amalgamation and continuance in Barbados.

- An insurance broker on an intended redomiciliation to Hong Kong