Reinsurance News

RiverStone

AFG completes Lloyd’s market exit with sale of Neon to RiverStone

28th September 2020

American Financial Group, Inc. (AFG) is set to complete its previously announced exit from the Lloyd's of London re/insurance marketplace via the sale of GAI Holding Bermuda and its subsidiaries, which comprises the legal entities that own its Neon business, to RiverStone Holdings Limited. AFG announced at the start of ... Read the full article

RiverStone assumes reinsurance portfolio from Aioi Nissay Dowa

26th February 2020

RiverStone, the insurance run-off management firm owned by Fairfax, has assumed a portfolio of reinsurance business from the UK branch of Aioi Nissay Dowa Insurance Company, Ltd (ADI). The portfolio was transferred under Part VII of the Financial Services and Markets Act 2000 and is effective from January 31, 2020. The UK ... Read the full article

SCOR’s Channel Syndicate completes RITC transaction with RiverStone

11th February 2020

The Channel Syndicate at Lloyd’s of London, which is part of global re/insurer SCOR’s Specialty Insurance platform, has completed its reinsurance to close (RITC) transaction with legacy specialist, RiverStone. Effective January 1st, 2020 the transaction covers the 2017 and prior years of account of Syndicate 2015. First announced in November of ... Read the full article

OMERS takes 40% stake in Fairfax’s RiverStone UK

20th December 2019

OMERS, one of the largest Canadian defined benefit pension plans, has entered into an agreement with Fairfax Financial Holdings Limited to acquire a 40% interest in RiverStone UK, Fairfax's UK run-off group. Following the transaction, RiverStone UK will benefit from the joint operational expertise of Fairfax and OMERS, providing it with ... Read the full article

RiverStone acquires two Cayman-based captives

30th October 2019

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 ... Read the full article

Reputation of the vibrant, claims-focused run-off market is growing: RiverStone

29th July 2019

The insurance and reinsurance run-off sector has matured into a healthy, vibrant, claims-focused marketplace, supported by a growing reputation, according to legacy specialist RiverStone. The RiverStone Group is a Fairfax company that specialises in the management of legacy and run-off re/insurance businesses and portfolios. As of the end of March 2019 ... Read the full article