Award

PRE00179 ILS Cat Bond Deal Legal Counsel

POOL REINSURANCE COMPANY LIMITED

This public procurement record has 1 release in its history.

Award

16 Aug 2024 at 09:47

Summary of the contracting process

Pool Reinsurance Company Limited has concluded its tender process for the appointment of a legal counsel for its insurance-linked security (ILS) terrorism bonds deal, titled "PRE00179 ILS Cat Bond Deal Legal Counsel." The tender, classified under the "Legal services" industry category, was geographically located in London, United Kingdom. The procurement process, which used a competitive quotation method under a limited procurement category, moved from planning to the award stage, with the final award issued on 26th July 2024. The contract, valued at £515,000, commences on 2nd August 2024 and concludes on 1st August 2027, covering a three-year term.

This tender presents significant opportunities for law firms specialising in legal services linked to financial instruments and securities. The contract, awarded to Clifford Chance LLP, exemplifies a substantial engagement for firms aiming to expand their portfolio in the highly specialised field of ILS terrorism bonds. Small and medium-sized enterprises (SMEs) with strong capabilities in legal counsel for insurance-linked securities would be well-suited to compete in similar tenders, given the specific requirements and significant duration of such contracts. Such opportunities can help law firms enhance their market presence and clientele in the financial services sector, particularly in high-stakes, long-term projects.

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Notice Title

PRE00179 ILS Cat Bond Deal Legal Counsel

Notice Description

Pool Re seeked to appoint a law firm to act as its deal counsel for a three-year term to assist in the issue of one or more insurance-linked security (ILS) terrorism bonds.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-00a78e87-6299-4ae5-b3b9-f7f16ab4a78b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/5b24e7ed-a1d9-4864-8c4d-085558a71aed
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Competitive quotation (below threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security


CPV Codes

79100000 - Legal services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£515,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
16 Aug 20241 years ago
Submission Deadline
23 Jul 2024Expired
Future Notice Date
Not specified
Award Date
25 Jul 20241 years ago
Contract Period
1 Aug 2024 - 1 Aug 2027 2-3 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
POOL REINSURANCE COMPANY LIMITED
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC4R 9AF
Post Town
Central London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLI London

Local Authority
City of London
Electoral Ward
Candlewick
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

CLIFFORD CHANCE

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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