Offshore business focused law firm Carey Olsen has announced the hiring of Michael Frith in Bermuda, a lawyer that is experienced in advising on and assisting with ILS, catastrophe bond and collateralized reinsurance transactions.
Michael Frith most recently worked for another offshore specialist law firm with insurance-linked securities (ILS) market expertise in Conyers.
His career has seen him act on numerous ILS transactions, across sidecars, catastrophe bonds and collateralized reinsurance arrangements.
He’s also a frequent name to see registered as a Director of Bermuda domiciled ILS structures and vehicles.
Carey Olsen Bermuda said it has appointed senior hire Frith in the firm’s corporate law practice.
A specialist in all aspects of Bermuda corporate law, Frith has had a particular focus on insurance or reinsurance regulatory and transactional matters, including ILS, as well as on the economic substance requirements expected of regulated firms.
Frith assists as a member of the Insurance Advisory Committee, providing advise to the Bermuda Ministry of Finance on matters relating to the Bermuda insurance and reinsurance sector.
He has also advised the Bermuda Registrar of Companies and Ministry of Finance on matters relating to the Economic Substance Act 2018 and its Guidance Notes. Frith serves on the Economic Substance Task Force.
Frith also acts as an independent director for a number of Bermuda incorporated companies, both in the insurance and non-insurance sectors, including ILS market vehicles.
Michael Hanson, a managing partner at Carey Olsen Bermuda, commented on Frith’s hire, “We are delighted to have someone of Michael’s calibre and experience joining the firm. He has a fabulous reputation both in Bermuda and internationally and his arrival is a very welcome addition to an extremely busy corporate practice.”
Frith added, “Carey Olsen has very quickly built an exceptionally talented team here in Bermuda, and I am thrilled to be a part of its continued growth in the jurisdiction. I am very much looking forward to the challenge of helping to expand the high level of client service for which the firm has become known.”