Harneys, a legal and fiduciary services firm with offices in twelve countries, has added an insurance-linked securities (ILS) and reinsurance experienced lawyer to its Bermuda team, hiring Michael Skribic to its ranks.
Skribic has over 25 years of experience in reinsurance and banking law, having worked on ILS structures and transactions as well.
Most recently Skribic was employed by Kennedys Law LLP, in their London and Hong Kong offices. Previously he has held senior roles at major re/insurers including ACE Group and Zurich Financial Services, with investment banks Dresdner Kleinwort and Commerzbank, and at international law firms including Kennedys and CMS Cameron McKenna.
Kribic’s experience includes covering corporate insurance, reorganisations, insurance-linked securities transactions, life and general insurance and reinsurance, risk funding and transfer solutions, derivatives, fund and ISDA documentation, UK regulatory and compliance issues such as Solvency II, joint ventures, credit restructuring, investment funds, and investment banking transactions.
He has experience gained in the Bermuda market, advising on the formation and reorganisation of Bermuda insurance and reinsurance entities, special purpose vehicles, captives, segregated account companies, as well as time spent on corporate administration of Bermuda domiciled insurance corporations for lawfirm Appleby.
He was hired by ACE Insurance Bermuda as Vice President and Legal Counsel of their Bermuda “AA” rated capital markets subsidiary, ACE Capital Re International, gaining further experience of ILS and collateralised reinsurance structures. Previously, Skribic was involved in the catastrophe bond market in its early years and continued to develop innovative risk transfer structures through Bermuda following his return to London.
Skribic joins Harneys as its Bermuda Counsel, where he will carry on this focus on reinsurance, ILS and the capital market interesection of the insurance markets.
Sarah-Jane Hurrion, Managing Partner of Harneys Bermuda, commented on the hire; “Michael has a wealth of international relationships in the ILS market, as well as with financial institutions and (re)insurance companies in Asia. The addition of Michael adds significant depth of expertise and further strengthens our leading corporate, insurance, and investment funds practices, led by Michael J. Burns. Harneys is committed to building a leading full-service Bermuda legal and fiduciary services practice in Bermuda, and we are delighted to welcome Michael to the team.”
Michael Skrbic, said on his appointment; “It is an exciting time to join Harneys, who are actively growing in Bermuda. In the past few years the firm has also developed into one of the largest offshore law firms in Hong Kong. Combined with Singapore, Tokyo and Shanghai offices, Harneys has a strong presence in Asia, which drives a significant amount of business to Bermuda. I look forward to bringing my Asia and ILS market knowledge and expertise to bear in Bermuda as the ILS market continues to mature here, and in turn boosts Harneys’ insurance and corporate practice, and other areas such as asset management.”