Legacy specialist RiverStone has announced the acquisitions of GMPCI Insurance Company, Ltd. and Seaside Indemnity Alliance Company, Ltd., which are both Cayman-based captives.
Seaside Indemnity Alliance was established in 2013 in order to assume hospital and physician professional liabilities.
GMPCI Insurance was launched in 2005 to provide insurance to anaesthesiologists, certified registered nurse anaesthetists and registered nurses, primarily in the US State of Massachusetts.
RiverStone’s Chief Business Development Officer, Matt Kunish, commented on the two deals: “We are very excited to complete our first transactions in the captive space.
“We were able to provide a solution as part of a larger transaction. With over 20 years’ experience in the traditional insurance markets, we look forward to using our expertise in the captive space.
“In addition to providing insurance risk solutions, we also see an opportunity to use our skills to provide other services to the captive industry, including claim handling services.”
