Appleby Global Services’ Bermuda office has celebrated its one year anniversary and the onboarding of “100 structures”.
The business is the specialist trust and corporate services provider of international law firm Appleby.
The structures on-boarded include publicly listed industrial conglomerates and global commercial re/insurers in both P&C and life, in addition to captives and insurance-linked securities.
One ILS example is a Singapore provider listing on the Bermuda Stock Exchange, with the company saying it continues to support the BSX by sponsoring issuers.
In Bermuda, services also include incorporation, registered office, company secretarial, board support, statutory records maintenance, director services, and trust services.
The AGS office in Bermuda has eight employees, with two more hires joining next month. All staff are either Bermudian, or the spouse of a Bermudian.
The operation is led by Tim Faries and Tonesan Amissah. Mr Faries serves as chairman for AGS Bermuda and managing partner of Appleby’s Bermuda office, while Ms Amissah is managing director for AGS Bermuda and a former partner at Appleby.
Mr Faries said: “As regulation and compliance requirements continue to increase at a rapid pace, clients are seeking integrated legal, fiduciary and administration services.
“Appleby’s legal expertise and knowledge of the local regulatory environments enable us to advise on all legal and regulatory developments. Appleby works closely with the AGS team of specialist administration professionals to implement customised solutions and provide clients with an efficient integrated service offering.”
Ms Amissah added: “We are very pleased with the growth of our business in the first year and expect client demand to continue, especially in the insurance sector. We have built a technically strong and client-centric team and look forward to hiring more Bermudians in 2020 as our business expands further.”
AGS also has offices in the Cayman Islands, Hong Kong, Isle of Man, Jersey, Mauritius, and Seychelles.