13 September 2021
Carey Olsen Bermuda advises Coralisle Group on Massy United Insurance acquisition
Carey Olsen Bermuda Limited has acted as lead counsel to Coralisle Group Ltd., a Bermuda-based insurance group with subsidiaries across the Caribbean, on its acquisition of Massy United Insurance Ltd.
The purchase of Massy United, a Barbados-based insurer with operations across the Caribbean, will significantly expand Coralisle Group's existing presence in the region with the addition of 14 new markets to its offering – Anguilla, Antigua & Barbuda, St. Kitts & Nevis, Montserrat, Dominica, St. Lucia, St. Vincent, Grenada, Trinidad & Tobago, Guyana, Curacao, Aruba, Jamaica and Belize.
The two insurers already share complementary operations in the Bahamas, Turks & Caicos, British Virgin Islands, Barbados and the Cayman Islands. The acquisition, which is subject to regulatory approval, will also allow Coralisle Group to add a complementary suite of property and casualty insurance products to enhance its core life, health and property, and casualty product offerings in those locations.
The Carey Olsen team, which acted as lead counsel to Coralisle Group, comprised partner Mary Ward, senior associate Max Tetlow and associate Alexandra Fox. RBC Capital Markets acted as financial adviser to Coralisle Group.
Mary said: "We were delighted to assist Coralisle Group with this important transaction and significant expansion of its business in the Caribbean."
Carey Olsen Bermuda Limited is a company limited by shares incorporated in Bermuda and approved and recognised under the Bermuda Bar (Professional Companies) Rules 2009. The use of the title “Partner” is merely to denote seniority. Services are provided on the basis of our current terms of business, which can be viewed at: www.careyolsen.com/terms-business.