RiverStone International, the London-based provider of legacy solutions, announced it has signed an agreement with the French branch of Zurich Å˽ðÁ«´«Ã½Ó³» Europe and Zurich Å˽ðÁ«´«Ã½Ó³» Co. to provide a loss portfolio transfer reinsurance (LPT) and an insurance business transfer relating to the French discontinued motor and architects & engineers (A&E) professional indemnity portfolios.
These transactions are a significant milestone for reinforcing RiverStone International’s European footprint with RiverStone International Ireland assuming full responsibility for the portfolios (after receiving the necessary regulatory approvals) and utilizing its global structure with RiverStone International Bermuda providing the LPT.
“It was a delight to work with the Zurich team again in deepening the connection between our respective organisations,” commented David Rocke, group head of M&A and managing director of RiverStone International Bermuda.
Brian Myles, CEO of RiverStone International Ireland, 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.”
Source: RiverStone
Topics Profit Loss
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