Cains Involved in Ground-Breaking Catastrophe Trading Deal
Cains worked alongside City of London law firm Travers Smith and US law firm Sullivan & Cromwell to assist Climate Exchange plc
(an Isle of Man company whose shares are traded on AIM) in an innovative arrangement with Deutsche Bank whereby Deutsche Bank may
acquire a minority stake in Climate Exchange in return for the contribution by Deutsche Bank of certain intellectual property rights
and expertise to facilitate the launch of a series of new event-linked futures contracts. These contracts, developed by Climate Exchange's
subsidiary Insurance Futures Exchange Services Limited ("IFEX") and listed on the Chicago Climate Futures Exchange, will offer investors the
ability to trade natural catastrophe loss risk as well as providing hedging capability for property/catastrophe insurance-linked exposure.
The Cains lawyer working on the deal was Tristan Head.
Andrew Corlett, Managing Director of Cains, commented: "The Climate Exchange deal is just one example of the many highly innovative cross-jurisdictional
transactions, involving Isle of Man companies, that this firm regularly advises upon. Our professional mix of London-trained and specialist international
lawyers, combined with first-hand experience of working closely with international law firms, banks and other professionals, ensures that we remain in the
perfect position to service the needs of our international clients."
For more information, please contact Tristan Head or Andrew Corlett
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