Walkers Bermuda acts for AXA XL in Bluefire reinsurance deal
Cayman Islands-based law firm Walkers has acted as Bermudian counsel to AXA XL in relation to an alternative capital reinsurance transaction that has been completed between AXA XL Reinsurance in Bermuda, and Irving, Texas-based Bluefire Insurance.
AXA XL and Bluefire’s partnership dates back to 2014, and strengthened in 2019 when Bluefire consolidated its carrier assortment and moved their reinsurance buying to a portfolio basis.
The transaction represents Bluefire’s first risk-taking position on its business, and the first personal auto alternative capital transaction that AXA XL has completed in Bermuda.
Walkers’ team was led by Bermuda-based partners Sarah Demerling (pictured) and Peter Dunlop.
