Appleby Bermuda Advised Photon Re Ltd. on USD175M Catastrophe Bond Issuance

Appleby Bermuda Advised Photon Re Ltd. on USD175M Catastrophe Bond Issuance

Appleby Bermuda advised Photon Re Ltd. in connection with the issuance of its Series 2026-1 Notes catastrophe bond, through which Lumen Re Ltd. secured USD 175 million of U.S. and Canada named storms and earthquake retrocession protection

Appleby acted as Bermuda counsel, advised on the formation and licensing of Photon Re Ltd. as a special purpose insurer and advised on all legal matters relating to Bermuda law.

Appleby Global Listing Services (Bermuda) Limited acted as listing sponsor for the Series 2026-1 Notes on The Bermuda Stock Exchange.

The transaction was led by Bermuda Brad Adderley (Managing Partner), with support from Aleisha Hollis (Senior Associates) and Melinda Mayne (Senior Associate), and Milaun Perott (Associate).

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