{"id":1241,"date":"2022-01-11T12:35:00","date_gmt":"2022-01-11T12:35:00","guid":{"rendered":"http:\/\/localhost\/?p=1241"},"modified":"2023-01-22T15:11:47","modified_gmt":"2023-01-22T15:11:47","slug":"riverstone-international-completes-loss-portfolio-transfer-lpt-reinsurance-agreement-with-canopius-group","status":"publish","type":"post","link":"https:\/\/www.rsml.co.uk\/2022\/01\/riverstone-international-completes-loss-portfolio-transfer-lpt-reinsurance-agreement-with-canopius-group\/","title":{"rendered":"RiverStone International completes loss portfolio transfer (LPT) reinsurance agreement with Canopius Group"},"content":{"rendered":"\n<p>December 24, 2021<\/p>\n\n\n\n<p>Please read Canopius Group\u2019s press release here:<\/p>\n\n\n\n<p><strong>LONDON \u2013 24<sup>th<\/sup> December 2021<\/strong> &#8211; Canopius Group, a leading global specialty (re)insurer, today announces that it has completed a Loss Portfolio Transfer (LPT) agreement with RiverStone International (RiverStone).<\/p>\n\n\n\n<p>The agreement covers discontinued classes of business underwritten by Canopius\u2019s Syndicates and will see RiverStone\u2019s Syndicate 3500 indemnify Canopius against potential losses in respect of net liabilities valued at approximately $780m. The portfolio transfer was brokered by Gallagher Re.<\/p>\n\n\n\n<p>Nick Betteridge, Chief Actuary of Canopius, commented: \u201cThis LPT with RiverStone provides Canopius with finality on our discontinued lines, allowing us to focus on our core business and releasing capital to reinvest in support of our future growth aspirations.<\/p>\n\n\n\n<p>\u201cWith the current positive market environment, we see this as a great time to continue to invest and grow our business in 2022 and beyond.&nbsp; I would like to thank Gallagher Re for their professional handling of this transaction and we look forward to working with RiverStone to transition the business over.\u201d<\/p>\n\n\n\n<p>Riverstone\u2019s CEO, Luke Tanzer, commented: \u201cWe are delighted to have executed this legacy portfolio transaction with Canopius, which continues to build upon our strong position in Lloyd\u2019s.&nbsp; We look forward to working closely with Canopius through the transition phase and to maintaining the high-quality level of service for policyholders and claimants\u201d.<\/p>\n\n\n\n<p>\u2013 Ends<em> \u2013<\/em><\/p>\n\n\n\n<p><strong>For further information please contact:<\/strong><\/p>\n\n\n\n<p>David Haggie \/ Richard Adams, Haggie Partners &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+44 20 7562 4444<\/p>\n","protected":false},"excerpt":{"rendered":"<p>December 24, 2021 Please read Canopius Group\u2019s press release here: LONDON \u2013 24th December 2021 &#8211; Canopius Group, a leading global specialty (re)insurer, today announces that it has completed a Loss Portfolio Transfer (LPT) agreement with RiverStone International (RiverStone). The agreement covers discontinued classes of business underwritten by Canopius\u2019s Syndicates and will see RiverStone\u2019s Syndicate [&hellip;]<\/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-1241","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RiverStone International completes loss portfolio transfer (LPT) reinsurance agreement with Canopius Group - RiverStone International<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rsml.co.uk\/2022\/01\/riverstone-international-completes-loss-portfolio-transfer-lpt-reinsurance-agreement-with-canopius-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RiverStone International completes loss portfolio transfer (LPT) reinsurance agreement with Canopius Group - RiverStone International\" \/>\n<meta property=\"og:description\" content=\"December 24, 2021 Please read Canopius Group\u2019s press release here: LONDON \u2013 24th December 2021 &#8211; Canopius Group, a leading global specialty (re)insurer, today announces that it has completed a Loss Portfolio Transfer (LPT) agreement with RiverStone International (RiverStone). 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