RiverStone
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Plus, the latest people moves and all the top news of the week. -
Andrew Creed has been promoted to group president in addition to his role as group CFO.
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Luke Tanzer is set to retire after 16 years at the helm of the run-off carrier.
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Renewable retrospective solutions were a key point during the discussion.
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The group reported a 19.1% return on opening adjusted tangible book.
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The process for the legacy book is believed to be in the late stages.
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Hampden embarked on a new “intelligent follow” strategy in 2023.
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Nicola Gaisford joined RiverStone from R&Q last year.
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The legacy firm said the deal would strengthen its Bermuda operations.
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The transactions will de-risk all North America middle-market reserves up to 30 June 2024.
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The deal is expected to close by year end.
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Some 39% of respondents expect deal volumes to increase in the next 12 months.
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The vehicle will give the legacy carrier a US platform.
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CEO Luke Tanzer talked about the expansion drive as the legacy firm reported a 14.3% RoE for 2023.
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The seller is facing an uphill struggle convincing its legacy rivals that there is strategic value in the merger deal.
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Catalina put its Irish subsidiary up for sale in May as it looks to streamline operations.
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In the wake of Enstar's $5.1bn go-private deal, here's our prior deep dive on the firm.
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Thomas is also non-executive director of IQUW Syndicate Management, while Vasquez is a NED of Allianz Holdings.
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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.
