Appleby has advised Brookfield on the establishment of North End Re (Cayman) SPC.
Brookfield Asset Management Inc. launched a newly North End Re Ltd., a newly Cayman Islands reinsurer licensed by the Cayman Islands Monetary Authority.
North End Re is an indirect subsidiary of Brookfield Asset Management Reinsurance Partners Ltd. and has been assigned a Preliminary Credit Assessment by AM Best with a Financial Strength Assessment of A- pca (Excellent) and a Long-Term Issuer Credit Assessment of “a-” pca.
North End Re, as a segregated portfolio company, could even be used to channel investor funds to the reinsurance business the vehicle writes, providing Brookfield with a ready made structure that can enable it to partner with investors and bring them into this side of its business as it grows.
Brookfield Asset Management Inc. is a giant Canadian headquartered alternative asset manager that has around $575 billion of assets under management.
The Appleby team was led by Jacob MacAdam (Picture), a partner at the firm, with assistance from Appolina Bent, an associate, each based in the firm’s Cayman Islands office.
Law Firms: Appleby;
Clients: Brookfield Asset Management Inc;