RiverStone International, a global acquirer and reinsurer of legacy and discontinued insurance business, has signed its second loss portfolio transfer (LPT) reinsurance agreement with Pacific Valley Insurance Company.
Pacific Valley is a wholly owned captive insurance subsidiary of the ride sharing company Lyft.
In March 2025, RiverStone secured its first LPT with the captive insurer, covering a commercial auto liability portfolio.
Effective from July 1st, 2026, this year’s repeat transaction builds on the strong and ongoing relationship between the two firms.
Paul Brockman, Group CEO of RiverStone International, commented: “We are delighted to have the opportunity to partner once again with Pacific Valley Insurance Company and Lyft on this transaction. This repeat transaction reflects the depth of the relationship between our organisations and demonstrates the value of long-term partnerships in the legacy market.
“We are pleased to continue supporting Lyft’s risk management and capital optimisation objectives and look forward to further developing our relationship in the years ahead. This transaction further strengthens our presence in North America and reinforces our commitment to providing innovative legacy solutions to clients across the region.”
Like last year, reinsurance broker Guy Carpenter, part of Marsh, was the broker of record.
For details on this legacy deal and many others, see our directory of legacy and run-off reinsurance transactions.
