RiverStone

The transaction will mark Sompo International’s full withdrawal from the Lloyd’s market.

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.

David Rocke becomes group head of M&A, Jamie Saunders CUO and David Alexander strategy director.

The transaction involves net technical provisions of more than £200mn.

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.

The deal was brokered by Gallagher Re.

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.

The deal will transfer legacy Pembroke business that still sat with Liberty Mutual Group for the 2018 and prior years of account.

Both private equity deals were vetted under simplified EU merger procedure.

The impending deal follows recent Lloyd’s legacy transactions with Neon and ArgoGlobal by RiverStone.

Luke Tanzer will remain the managing director and said the deal represented a “runway for future growth”.