Maples and Calder, the Maples Group’s law firm, advised Bahamas-based Colina Holdings Bahamas Limited on its acquisition of the Saxon group of companies.
The transaction included the purchase of leading Cayman Islands general insurance and pension administration businesses, and the follow-on corporate reorganisation, which includes a merger of the Cayman Islands insurance businesses under the Indigo Insurance brand.
The Group’s Cayman Islands legal team was headed by John Dykstra, partner, who leads the Group’s Cayman Islands insurance transactions, and Sophia Scott, partner, who works with Cayman Islands-based businesses on their corporate matters. The team advised Colina on the complex, cross-border acquisition and merger and advised on the regulatory aspects of the transaction, including those related to foreign ownership considerations and licensing requirements.
“It has been a privilege to support Colina on their acquisition of Saxon,” Dykstra said. “Our expert knowledge of the insurance and local business markets of the Cayman Islands was instrumental in guiding Colina through every stage of this significant cross-border acquisition. We look forward to the continued success this will bring Colina within the Cayman Islands.”
The successful acquisition significantly expands Colina’s footprint in the Cayman Islands’ general insurance market. Saxon Administration administers more than US$1.5 billion of assets for Cayman Islands-registered pension plans.
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