Specialist Bermuda law firm Attride-Stirling & Woloniecki (AS&W) celebrated its third year in business on October 1 by welcoming one of the Island's most experienced corporate attorneys to its ranks, Bala Nadarajah.

Having first arrived in Bermuda in 1979, Mr. Nadarajah has not only experienced the Island's evolution to become one of the leading centres for insurance and reinsurance in the world, but has also been instrumental in ensuring the Island's success as a leader in the competitive world of international business.

Mr. Nadarajah is listed in Euromoney's Guide to the best insurance and reinsurance lawyers in the world which fits perfectly with his new role as AS&W's Senior Counsel for Corporate & Commercial Law.

Speaking with The Royal Gazette yesterday, Mr. Nadarajah and AS&W partner Rod Attride-Stirling said how happy they were to again be working together.

Mr. Nadarajah arrived in Bermuda in 1979 to work with the Attorney General's Chambers as a legal advisor to registrar of companies Shelton Burgess as well as advise on insurance matters, a post he held until 1986.

He came to Bermuda after hearing about the job while studying for his masters in Comparative Law at Georgetown University in Washington D.C. During his studies, Mr. Burgess was also studying for his masters at the same university and, as Mr. Nadarajah remembers: “He sent out an SOS looking for someone who might be able to help with in-house insurance regulations.”

News of the job offer was passed from Mr. Nadarajah's professors to himself, and he got in touch with Mr. Burgess. Mr. Nadarajah has been serving the Island ever since.

Mr. Nadarajah assisted in the drafting and supervised the introduction of Bermuda's insurance regulations and the Bermuda Companies Act 1981. Mr. Nadarajah explained that at the time, the Island's Companies law was a collection of bits and pieces which were in dire need of being organised into one comprehensive piece of legislation.

From 1986 to 1993, Mr. Nadarajah worked in the US in Washington D.C., but maintained contact with the Island as a special consultant to the Ministry of Finance.

While in Washington, he kept an eye on legal changes that may have affected the Island and reported to the Financial Secretary.

Returning to private practice in Bermuda in 1993, Mr. Nadarajah said: “It was like coming home for me.”

On his present appointment, Mr. Nadarajah said Bermuda had matured into a specialised jurisdiction for insurance and reinsurance, and added: “Attride-Stirling & Woloniecki is a specialist firm in insurance and reinsurance and this presents me with a great opportunity with my background and experience.

“It is a fit to join a specialist firm in a specialist jurisdiction.”

Mr. Nadarajah said: “With the changing situations worldwide in the insurance and reinsurance industry, we will have to keep pace with the changes. Those changes can take place more effectively in a jurisdiction that is prepared and willing to accommodate that change while still meeting the very high standards of regulation.”

He said post Enron, when integrity and accountability were key for survival, Bermuda was well prepared as the Island's authorities and stakeholders had always realised the importance of being a credible jurisdiction.

“So when that credible jurisdiction can also be used as a laboratory for industry changes, then there is a great deal going for the jurisdiction,” said Mr. Nadarajah.

Firm Partner Rod Attride-Stirling said prior to setting up AS&W, he had worked with Mr. Nadarajah for six years and they knew each other well. “We knew the calibre of work that each did and the calibre of workmanship as well.” Mr. Attride-Stirling said: “When I worked with Bala, I was younger and it was always a great educational experience working with him. Having him join AS&W is a great coup for me personally. He is without a doubt, in my view, one of the most knowledgeable corporate insurance lawyers on the Island both in terms of regulatory experience and corporate law practice.”

Mr. Attride-Stirling said that while Mr. Nadarajah was often heralded for his work in insurance, his experience on the pure corporate law side was also quite significant.

“Bala's experience in insurance and reinsurance fits naturally into what we do an we are very happy that he has made the decision to join us,” said Mr. Attride-Stirling

Mr. Nadarajah presently serves as a director of the Bermuda Monetary Authority, he is a member of the Insurance Advisory Committee, a member of the Bermuda International Business Forum and has been chairman of the Investment Business Act Appeal Committee. With an office in Bermuda and London, AS&W now has eight lawyers and one studying lawyer who is expecting a call to the bar soon. The firm specialises in insurance and reinsurance, corporate and commercial law, commercial litigation and arbitration and insolvency law.