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Michael Frith

Managing Director - Senior Counsel

Michael Frith is Senior Counsel at Carey Olsen Bermuda, and Managing Director of the corporate services business. His legal practice focuses on all aspects of Bermuda corporate law, including all types of Bermuda corporate structures, equity and debt financings (public and private), IPOs.  Michael has particular experience advising on the formation and ongoing regulatory and transactional requirements of all types of Bermuda corporate and insurance structures, including commercial insurers and reinsurers (both life and non-life), captive insurers, ILS structures (including collateralised reinsurers, sidecars and cat bonds), segregated account companies and insurance intermediaries on regulatory and transactional matters.

Michael has significant experience in the provision of corporate administrative services to Bermuda groups, and has served as independent Director on a large number of Bermuda boards, including finance and holding vehicles, commercial and captive insurers, SPIs and investment funds.

Michael also has particular expertise in relation to Bermuda’s economic substance requirements, and has been a key advisor to the Bermuda Registrar of Companies and Ministry of Finance in relation the development and implementation of Bermuda’s economic substance legislation and related guidance.

Career

Prior to joining Carey Olsen in 2020, Michael was a Director in the Corporate Department (Insurance) at a major Bermuda-based offshore firm and corporate service provider, where he practiced for over 16 years.

In 2019, Michael served as Advisor to the Bermuda Registrar of Companies, advising on the development and implementation of the Economic Substance Act 2018, and related Regulations and Guidance Notes.  Michael also serves on the Economic Substance Task Force, providing industry advice to the Minister of Finance in relation to the economic substance requirements.

Michael has been a member of the Insurance Advisory Committee since 2011, advising the Minister of Finance on matters relating to the development and regulation of the insurance industry in Bermuda.

In 2013, Michael was appointed to the Bermuda Employment Tribunal.

Michael also serves as Commander of the Bermuda Sea Cadet Corps, and is on the Executive of the Bermuda Zoological Society and Chairman of their Governance Committee.

Carey Olsen Bermuda Limited is a limited liability company 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.

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