RiverStone
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Thomas is also non-executive director of IQUW Syndicate Management, while Vasquez is a NED of Allianz Holdings. -
The coverage supports a series of recent Lloyd’s transactions, including the £1.2bn MS Amlin RITC.
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The CVC-backed legacy player edged out Enstar in the process which was run by Gallagher Re.
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The transaction covers net reserves for losses and loss expenses of approximately $400mn and provides ground-up cover to a policy limit of $605mn.
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The process has been narrowed, with parties including Catalina and Premia not going forward.
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Sources said the net reserves in scope for the deal were marketed at £240mn.
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The transaction will mark Sompo International’s full withdrawal from the Lloyd’s market.
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The deal comes a year and a half after the Canadian conglomerate sold the European unit of RiverStone to private equity firm CVC for $750mn.
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David Rocke becomes group head of M&A, Jamie Saunders CUO and David Alexander strategy director.
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The transaction involves net technical provisions of more than £200mn.
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The deal allows MS Amlin to carve out the P&C portfolio for 2019 and prior years in an industry first.
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David Rocke brings more than 25 years' experience to RiverStone, joining the firm as its first MD in Bermuda.
