RiverStone International has entered a loss portfolio transfer reinsurance (LPT) and an insurance business transfer agreement with Zurich Insurance’s French branch.
The agreement involves French discontinued motor and architects & engineers professional indemnity portfolios.
Upon securing regulatory clearances, RiverStone International Ireland DAC will assume full responsibility for the portfolios.
This move said to leverage the global structure of RiverStone, with RiverStone International Bermuda Limited providing the LPT.
RiverStone International Bermuda Limited MD and M&A head David Rocke commented: “It was a delight to work with the Zurich team again in deepening the connection between our respective organisations”.
RiverStone International Ireland CEO Brian Myles said: “We are delighted to have worked with Zurich on these transactions and look forward to fully integrating the portfolios during 2025, whilst continuing to provide the highest level of service to Zurich’s insureds.”
This November, RiverStone concluded an LPT deal with QBE Insurance Group.
This agreement sees RiverStone subsidiaries taking on subject reserves worth $1.2bn (£925.35m).
It encompasses a diversified portfolio from international and North American markets, covering premiums earned up to 30 June 2024.
RiverStone International has been diverse transactions such as portfolio transfers, reinsurance deals, and company acquisitions.
According to its website, RiverStone International has acquired over $15.5bn of liabilities since 2010 and has approximately $6bn of liabilities under live management.
With a global presence, RiverStone operates through multiple offices and affiliates in the UK, Malta, Ireland, and Bermuda.
“RiverStone seals LPT deal with Zurich France group ” was originally created and published by Life Insurance International, a GlobalData owned brand.
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