Walkers acted as Bermudian counsel to AXA XL.
The transaction concerned an alternative capital reinsurance that has been completed between AXA XL Reinsurance in Bermuda, and Bluefire Insurance, a Texas-based Managing General Agency.
AXA XL and Bluefire’s partnership dates back to 2014, and strengthened in 2019 when Bluefire consolidated their carrier assortment and moved their reinsurance buying to a portfolio basis. The transaction represents Bluefire’s first risk taking position on its business, and the first personal auto alternative capital transaction that AXA XL has completed in Bermuda.
Walkers team was led by partners Sarah Demerling (Picture) and Peter Dunlop.
Law Firms: Walkers Global;
Clients: AXA XL Reinsurance;