RiverStone International Expands Global Reach with Zurich Insurance Deal
In a strategic move to strengthen its global presence, RiverStone International has entered into a loss portfolio transfer reinsurance (LPT) agreement and an insurance business transfer agreement with Zurich Insurance’s French branch. This significant deal involves the transfer of French discontinued motor and architects & engineers professional indemnity portfolios.
Leveraging Global Structure
Upon securing regulatory clearances, RiverStone International Ireland DAC will assume full responsibility for the portfolios, leveraging the global structure of RiverStone. RiverStone International Bermuda Limited will provide the LPT, further solidifying the company’s position as a leading player in the industry.
Strengthening Ties
David Rocke, MD and M&A head of RiverStone International Bermuda Limited, expressed his delight in working with the Zurich team, stating that it has deepened the connection between their respective organizations. Brian Myles, CEO of RiverStone International Ireland, echoed this sentiment, looking forward to fully integrating the portfolios during 2025 while maintaining the highest level of service to Zurich’s insureds.
Recent Successes
This November, RiverStone concluded an LPT deal with QBE Insurance Group, assuming subject reserves worth $1.2bn (£925.35m). This agreement encompasses a diversified portfolio from international and North American markets, covering premiums earned up to 30 June 2024.
Diversified Transactions
RiverStone International has a proven track record of executing diverse transactions, including portfolio transfers, reinsurance deals, and company acquisitions. Since 2010, the company has acquired over $15.5bn of liabilities and currently manages approximately $6bn of liabilities under live management.
Global Presence
With a strong global presence, RiverStone operates through multiple offices and affiliates in the UK, Malta, Ireland, and Bermuda, positioning itself as a leader in the industry.
About RiverStone International
RiverStone International is a leading provider of insurance solutions, with a commitment to delivering exceptional service and value to its clients. With a rich history of successful transactions and a strong global presence, the company continues to expand its reach and capabilities.
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