London, 05 March<\/p>\n\n\n\n
RiverStone Europe is pleased to announce that it has completed a reinsurance-to-close (RITC) transaction of the legacy liabilities of the 2018 and prior years of account of Syndicate 4000, managed by Hamilton Managing Agency Limited, a wholly-owned subsidiary of Hamilton Insurance Group, Ltd. (\u201cHamilton\u201d). The transaction transfers legacy Pembroke business that remained with Liberty Mutual Group following Hamilton\u2019s acquisition of Pembroke and Syndicate 4000 in August 2019.<\/p>\n\n\n\n
This RITC with net technical provisions of over \u00a3370 million, received Lloyd\u2019s approval in early February, with the RITC becoming effective from 1 January 2021. RiverStone Europe will now work with Hamilton to transition the business operations over the coming months.<\/p>\n\n\n\n
\u201cWe are\u202fvery pleased that\u202fHamilton and Liberty selected RiverStone Europe as their partner for this transaction.\u201d, said Luke\u202fTanzer, RiverStone Europe’s Managing Director. \u201cWe have worked closely with them to ensure their strategic objectives are achieved through this RITC, and we will ensure that all stakeholders continue to receive the highest possible level of service. The completion of this transaction reinforces RiverStone Europe\u2019s competitive edge and outstanding reputation in the market.\u201d<\/p>\n\n\n\n
\u201cThis transaction is the final act of what has been a transformational deal for Hamilton,\u201d said Adrian Daws, CEO, Hamilton Managing Agency Limited*. \u201cAs we complete the integration of our acquired operations from Liberty, we\u2019re well-positioned to continue to focus on our long-term development in building a global, diversified specialty insurance and reinsurance franchise.\u201d<\/p>\n\n\n\n
*Subject to regulatory approval.<\/p>\n","protected":false},"excerpt":{"rendered":"
London, 05 March RiverStone Europe is pleased to announce that it has completed a reinsurance-to-close (RITC) transaction of the legacy liabilities of the 2018 and prior years of account of Syndicate 4000, managed by Hamilton Managing Agency Limited, a wholly-owned subsidiary of Hamilton Insurance Group, Ltd. (\u201cHamilton\u201d). The transaction transfers legacy Pembroke business that remained […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-1212","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"\n