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Local law firms gain Tier 1 rankings

The Legal 500 profiles allow in-house counsel to see an overview of the firm's strengths, locations, key contacts, individual lawyer biographies alongside the firm's current rankings. (File photograph)

Local law firms Appleby, Conyers, Carey Olsen Bermuda Limited, Wakefield Quinn and Walkers have all received Tier 1 rankings from international legal directory Legal 500 Caribbean.

Appleby and Conyers received Tier 1 rankings in six practice categories while Carey Olsen received two Tier 1 rankings.

For Conyers, they included: banking, finance and capital markets; corporate and commercial; dispute resolution; insurance/reinsurance; real estate; and, trusts/private client.

For Appleby, they included: banking, finance and capital markets; corporate and commercial; dispute resolution; insurance/reinsurance; regulatory and compliance; and, trusts/private client.

Carey Olsen maintained its Tier 1 rank in the trusts/private client category and was promoted to Tier 1 in dispute resolution for the first time.

Walkers received a Tier 1 rank in the regulatory and compliance category, and Wakefield Quinn ranked Tier 1 in real estate.

The Legal 500 legal market overview said of Bermuda: “Belying its size, the ‘world’s risk capital‘ has one of the highest per capita income rates and an A+ long-term issuer rating (KBRA) driven by its buoyant offshore financial services, insurance and reinsurance sectors.

“It is in the latter two industries where the jurisdiction most conspicuously thrives. Following a decades-long history of regulatory innovation, Bermuda is now the world’s second and third largest centre for captive insurance and reinsurance domiciliation, respectively – as well as the greatest supplier of catastrophe reinsurance coverage to US insurers.

“While tourism previously accounted for more than a quarter of the archipelago’s GDP, the pandemic had a predictably devastating effect on visitor numbers.

“With many of its Caribbean neighbours having already relaxed entry requirements in line with broader global trends in Covid-19 management, Bermuda joined them at the end of October 2022; pre-travel tests will no longer be mandatory.

“This will come as a relief with rebounding income from tourism expected to shore up the revenue gulf created by the withdrawal of Russian aircraft certification work.”

For the full list of rankings see www.legal500.com/c/bermuda.

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Published November 14, 2022 at 7:51 am (Updated November 14, 2022 at 3:58 pm)

Local law firms gain Tier 1 rankings

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