Legacy acquirer RiverStone International has completed a reinsurance-to-close (RITC) transaction with Acappella Syndicate 2014, a wholly owned subsidiary of Hamilton Insurance Group.
The transaction, which involves the legacy liabilities of the 2019 and prior years of the syndicate, has net technical provisions of more than £200 million, and was facilitated by Aon’s Reinsurance Solutions Capital Advisory team.
Luke Tanzer, CEO of RiverStone International, said: “We are very pleased that Hamilton has again selected RiverStone as their partner for this transaction.
“This is further testament to our excellent reputation in the market and our ability to deliver legacy solutions for clients.”
RiverStone made a similar deal on 24 February when it and MS Amlin Underwriting agreed to undertake a split reinsurance-to-close transaction worth $266m of the UK property and casualty portfolio of the 2019 and prior years of account of MS Amlin’s Syndicate 2001 at Lloyd’s.
Other transactions that RiverStone has been involved with in recent months include its loss portfolio transfer agreement with Canopius Group in December.
