Maples Group Advises Colina on Acquisition of Saxon

Maples and Calder, the Maples Group’s law firm, have advised the Bahamas-based Colina Holdings Bahamas Limited (“Colina”) 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 Partner John Dykstra, who leads the Group’s Cayman Islands insurance transactions, and Partner Sophia Scott, 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.

Commenting on the transaction, John said, “It has been a privilege to support Colina on their acquisition of Saxon. 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.