Sophia Greaves

Practice Areas

Capital Markets

Corporate

Finance

Insurance & Reinsurance

Mergers & Acquisitions

Securitization & Structured Finance

Career

Sophia Greaves is a Director in the Corporate department in the Bermuda office of Conyers Dill & Pearman. Prior to joining the firm in 2010, Sophia qualified as an Associate in the Reinsurance and Commercial Risk department of Barlow Lyde & Gilbert LLP. During her time at Barlow Lyde & Gilbert, Sophia worked in both the London and Hong Kong offices, where she acted in a broad range of (re)insurance commercial litigation proceedings.

Sophia’s practice at Conyers Dill & Pearman spans a number of specializations, with particular emphasis on securitizations, mergers and acquisitions, banking regulation and (re)insurance transactions, including the formation, licensing and ongoing regulatory requirements for Bermuda captives, special purpose insurers in the insurance-linked securities sector and commercial (re)insurers.

Sophia also has an active general corporate practice, including advising on the Bermuda regulatory aspects of transactions for both local and exempted companies.

Sophia is instructed by a number of public companies, banks, (re)insurers and other leading financial institutions.

Professional Memberships

Bermuda Bar Association

Member of the Board of Directors of the Bermuda Tourism Authority

Justice of Peace

Publications

Insurance Bulletin Spring 2021

Corporate Digest: Notable Deals and Transactions – Winter 2020

Norway Practice Bulleting 2020 - May 2020

Corporate Digest: Notable Deals and Transactions – Autumn 2019

Corporate Digest: Notable Deals and Transactions - Spring 2019

Global IPO Report – July 2018

Bermuda Public Companies Update – July 2018

Norway Practice Bulletin – 2018, May 2018

2017 Global Corporate Year in Review, January 2018

Bermuda Public Companies Update – November 2017

Bermuda Securitisations Bulletin, September 2017

Bermuda Public Companies Update – May 2017

Work Highlights

Advised on the formation of Third Point Reinsurance Ltd. (NYSE: TPRE) (“Third Point”) and its wholly-owned subsidiary, Third Point Reinsurance Company Ltd. (“Third Point Re”), including the licensing of Third Point Re as a Class 4 reinsurer and the funding of Third Point Re by way of an initial private placement comprising the issuance of $784.3 million of equity capital of Third Point.

Advised on the formation, licensing and subsequent funding of Somerset Reinsurance Limited, a Class E reinsurer.

Advised Butler University on the on the formation and licensing of the first known student-run captive insurance company.

Advised Sagicor Financial Corporation Limited (BSE:SFC) (TTSE:SFC) (LSE:SFI), one of the largest financial services groups in the Caribbean, on its continuance from Barbardos to Bermuda.

Advised The Bank of N.T. Butterfield & Son Limited (NYSE:BNTB) on its US$287.5 million initial public offering and its US$349 million secondary offering.

Advised Bermuda Commercial Bank Limited (“BCB”) in connection with BCB’s restructuring involving the merger of BCB with BNL I Limited, a wholly owned subsidiary of Somers Limited (“Somers”), resulting in BCB becoming a wholly owned subsidiary of Somers, the delisting of the shares of BCB from the Bermuda Stock Exchange (“BSX”) and the subsequent listing of the shares of Somers on the BSX.

Advised Textainer Group Holdings Limited (NYSE: TGH) (“Textainer”), the world’s largest lessor of intermodal containers based on fleet size, on numerous credit/loan facilities and asset-backed note securitization transactions, most recently the issuance by Textainer Marine Containers V Limited (an indirect, wholly-owned subsidiary of Textainer) of US$500 million fixed rate asset backed notes which represented on one of the largest ABS transactions in the history of the intermodal containers leasing industry and the initial entry and subsequent refinance by Textainer Marine Containers II Limited (also an indirect, wholly-owned subsidiary of Textainer) of its $1.2 billion warehouse securitization facility.

Advised CAI International, Inc. (NYSE: CAP) (“CAI”), in connection with the issuance by CAL Funding III Limited (an indirect, wholly-owned subsidiary of CAI) of asset-backed notes totaling US$253.07 million.

Advised BW Offshore Limited (BWO:Oslo) on the implementation of a long-term financial platform comprising of amendments to the company’s USD2.4 billion facility and other credit facilities, extending the maturity and, inter alia, amending the redemption terms, equity ratio and margin of the Company’s four unsecured bond issuances and a fully underwritten rights issue of 8,559,810,000 new common shares of USD0.01 each at a subscription price of NOK0.10 per share, which was over overwritten by 44%.

Awards