Press Release 23 April 2015
Hassans involved in first ILS type transaction in Gibraltar
As announced today by the Government of Gibraltar, the first ILS type transaction has been completed through Gibraltar with Hassans advising the lead Gibraltar party, Euroguard Insurance Company PCC Limited, in the insurance transaction – see link to the Government of Gibraltar’s official release here: https://www.gibraltar.gov.gi/new/sites/default/files/press/2015/Press%20Releases/249%20-2015.pdf
Hassans were perfectly placed to advise on this landmark transaction due to its specialist expertise in the Insurance sector; the firm assisted with the drafting of Gibraltar’s Insurance Companies (Special Purpose Vehicles) Regulations 2009, was involved in drafting the Protected Cell Companies and insurance legislation and has helped to set up the majority of Gibraltar insurance companies over the last 14 years, including protected cell companies.
Nigel Feetham, a senior partner at Hassans said:
“Hassans have acted for Euroguard Insurance Company PCC Limited since its establishment almost 20 years ago. This is an interesting deal, and importantly, it is good to see the ILS market embracing this transaction. Hassans’ capital markets practice has been built over many years of advising leading international institutions. Our professional insight in both capital markets and insurance structuring therefore allows us to provide clients with a unique offering in the ILS space. We are delighted to have been professionally involved”.
Hassans was founded in 1939 and is the largest law firm in Gibraltar with 36 partners, over 55 other lawyers and 250 staff in total.
Hassans was the first firm in Gibraltar to structure itself as a modern international law firm, with separate departments for different fields of specialisation and the first outside of the UK to accredited by the Law Society of England and Wales to offer training contracts to aspiring solicitors, this puts them firmly at the forefront of legal training in Gibraltar.
The firm has an international clientele, links with major European and US law firms and has consistently been listed as the leading law firm in Gibraltar by Chambers and Partners and Legal 500 across the majority of its practice areas.
Nigel Feetham: Nigel is a senior partner of Hassans and a Visiting Professor at Nottingham Law School, Nottingham Trent University. He is also an author and co-author of a number of books including ‘‘Protected Cell Companies: A Guide to their Implementation and Use’’ which is the leading reference work on protected cell companies. Nigel combines in-depth legal knowledge with considerable practical business experience.