RiverStone
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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. -
David Rocke brings more than 25 years' experience to RiverStone, joining the firm as its first MD in Bermuda.
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The deal was brokered by Gallagher Re.
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Legacy business RiverStone International has appointed former PartnerRe CEO Costas Miranthis as an independent non-executive director and Neil Taylor as group chief investment officer.
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The deal will transfer legacy Pembroke business that still sat with Liberty Mutual Group for the 2018 and prior years of account.
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Both private equity deals were vetted under simplified EU merger procedure.
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The impending deal follows recent Lloyd’s legacy transactions with Neon and ArgoGlobal by RiverStone.
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Luke Tanzer will remain the managing director and said the deal represented a “runway for future growth”.
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The deal is structured as a reinsurance-to-close transaction for 2017 and prior years at Syndicate 1200.
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Enstar, R&Q and Riverstone remain as the Willis-run process heads towards its conclusion.
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The legacy bidder prevails over Enstar, Premia and start-up Marco.
