Appleby acted as Bermuda counsel to RS Reinsurance and its parent company Insurent Agency Corporation (Insurent) in the sale of Insurent to MRI Software.
Insurent is a leading lease guarantor provider for renters, landlords, property owners and real estate brokers. Insurent helps a large segment of creditworthy renters qualify for and obtain an apartment by providing a lease guaranty and acting as the institutional guarantor on their lease. Founded in 2008, Insurent has guaranteed more than $1 billion in rent exposure since inception. Its services are accepted by over 9,000 buildings that manage in excess of 800,000 apartments.
Appleby advised on the Bermuda legal and regulatory aspects of the sale.
Brad Adderley, Bermuda Managing Partner, led the transaction with support from Matthew Carr, Partner and Melinda Mayne, Associate.
