{"id":1249,"date":"2022-02-24T09:42:00","date_gmt":"2022-02-24T09:42:00","guid":{"rendered":"http:\/\/localhost\/?p=1249"},"modified":"2023-01-22T15:16:47","modified_gmt":"2023-01-22T15:16:47","slug":"riverstone-international-completes-ritc-transaction-with-ms-amlin","status":"publish","type":"post","link":"https:\/\/www.rsml.co.uk\/2022\/02\/riverstone-international-completes-ritc-transaction-with-ms-amlin\/","title":{"rendered":"RiverStone International completes RITC transaction with MS Amlin"},"content":{"rendered":"\n

Press release<\/strong> <\/p>\n\n\n\n

24 February 2022<\/strong><\/p>\n\n\n\n

RiverStone International, the industry-leading acquirer and reinsurer of legacy and discontinued insurance business, has completed an agreement with MS Amlin Underwriting Limited to undertake a split reinsurance-to-close (RITC) transaction of the UK property and casualty portfolio of the 2019 and prior years of account of MS Amlin\u2019s syndicate 2001. In addition, the companies have agreed a 100% quota share arrangement in respect of the 2020 year of account for the same lines of business,<\/p>\n\n\n\n

RiverStone International will undertake the split RITC through its specialist legacy syndicate 3500.  The RITC became effective on 1 January 2022, with net technical provisions of US$266 million.<\/p>\n\n\n\n

Andy Creed, Chief Financial Officer of RiverStone International, said:\u201d We are delighted that MS Amlin has chosen RiverStone to help deliver its strategic aims. This signing further reinforces our competitive edge and the trust that key players in the market have in us. We will ensure that MS Amlin\u2019s excellent reputation is maintained, and their insureds continue to receive the highest possible level of service.\u201d<\/p>\n\n\n\n

Phil Green, Chief Financial Officer, MS Amlin Underwriting Limited said: \u201cThis arrangement with RiverStone International helps us along our journey of transformation, by providing greater operational and financial simplicity for our business.\u201d<\/p>\n\n\n\n

About RiverStone International<\/strong> <\/p>\n\n\n\n

RiverStone International is an industry-leading acquirer and reinsurer of legacy and discontinued insurance business. Operating in the UK company and Lloyd\u2019s of London markets, RiverStone International has transacted a wide variety of deals \u2013 from insurance and reinsurance portfolio transfers to company purchases, acquiring over US$7 billion of liabilities since 2010 and with around US$4 billion of liabilities currently under management. RiverStone International\u2019s highly skilled and tenured professionals employ ownership, accountability, commitment, and an open and flexible approach to all transactions to provide transactional certainty, deliver desired outcomes and maintain clients\u2019 reputations. For further information about RiverStone International please visit: www.rsml.co.uk <\/em><\/p>\n\n\n\n

About MS Amlin<\/strong><\/p>\n\n\n\n

MS Amlin Underwriting Limited is a leading global (re)insurer, part of the global top-10 insurance group MS&AD, with operations in the Lloyd\u2019s, UK, Middle East, and Asia markets. With a 300-year record, MS Amlin delivers a quality service for businesses facing the most complex and demanding risks. Our role places us at the forefront of the Property & Casualty, Marine and Reinsurance markets.<\/em><\/p>\n\n\n\n

MS Amlin are experts in underwriting, with both technical capability and deep knowledge of the areas we insure. Our claims service aims to set the industry reference point for quality, with efficient, fair and timely claims management.<\/em><\/p>\n\n\n\n

Contacts:
<\/strong>For RiverStone<\/strong><\/p>\n\n\n\n

Haggie Partners
Damian Beeley \/ Cordelia Hawkings
Tel: +44 (0)207 562 4444
Damian.Beeley@haggie.co.uk<\/a> 
Cordelia.Hawkings@haggie.co.uk<\/a><\/p>\n\n\n\n

RiverStone International  
Federica Aversa, Global Brand and Communications Manager 
Tel\u202f: +44 20 7398 4329 
federica.aversa@rsml.co.uk<\/a><\/p>\n\n\n\n

For MS Amlin<\/strong><\/p>\n\n\n\n

FTI Consulting
Shipra Khanna \/ Gina Magnin: +44 (0)7866 822 205 \/ +44 (0)7815 585 751<\/p>\n","protected":false},"excerpt":{"rendered":"

Press release  24 February 2022 RiverStone International, the industry-leading acquirer and reinsurer of legacy and discontinued insurance business, has completed an agreement with MS Amlin Underwriting Limited to undertake a split reinsurance-to-close (RITC) transaction of the UK property and casualty portfolio of the 2019 and prior years of account of MS Amlin\u2019s syndicate 2001. In addition, the […]<\/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-1249","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"\nRiverStone International completes RITC transaction with MS Amlin - 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\/02\/riverstone-international-completes-ritc-transaction-with-ms-amlin\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RiverStone International completes RITC transaction with MS Amlin - RiverStone International\" \/>\n<meta property=\"og:description\" content=\"Press release  24 February 2022 RiverStone International, the industry-leading acquirer and reinsurer of legacy and discontinued insurance business, has completed an agreement with MS Amlin Underwriting Limited to undertake a split reinsurance-to-close (RITC) transaction of the UK property and casualty portfolio of the 2019 and prior years of account of MS Amlin\u2019s syndicate 2001. 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