Legal firm Appleby has won a prestige award for offshore law firm of the year.

The US Captive Services Awards panel said: “Appleby is clearly committed to the offshore captive sector and demonstrates an ability to provide experienced legal advice to US-based owners of offshore risk financing structures.”

Timothy Faries, managing partner at Appleby Bermuda, added: “We are honoured to be recognised for this prestigious award for offshore law firm.

“Appleby is passionate about developing innovative solutions for our clients and the marketplace to solve their ever-changing needs.”

The award was presented at a ceremony in Vermont earlier this week. Bermuda was also recognised at the ceremony, picking up the award for offshore captive domicile.

The judges said: “The jurisdiction's ability to obtain Solvency II equivalence for its commercial sector while carving captives out a bifurcated approach means it will benefit from the increased expertise and substance that new commercial reinsurers and insurers will bring.”