{"id":1578,"date":"2023-02-14T17:33:00","date_gmt":"2023-02-14T17:33:00","guid":{"rendered":"https:\/\/www.rsml.co.uk\/?p=1578"},"modified":"2023-02-15T08:39:48","modified_gmt":"2023-02-15T08:39:48","slug":"riverstone-international-completes-ritc-and-lpt-transactions-with-ms-amlin","status":"publish","type":"post","link":"https:\/\/www.rsml.co.uk\/2023\/02\/riverstone-international-completes-ritc-and-lpt-transactions-with-ms-amlin\/","title":{"rendered":"RiverStone International completes RITC and LPT transactions with MS Amlin"},"content":{"rendered":"\n<p>RiverStone International, the industry-leading acquirer and reinsurer of legacy and discontinued insurance business, has completed an agreement with MS Amlin Underwriting Limited to provide MS Amlin Syndicate 2001 (\u201cMS Amlin\u201d) with a Reinsurance-to-close (\u201cRITC\u201d) of the 2018 and prior years of account, and a Loss Portfolio Transfer reinsurance (\u201cLPT\u201d) of specific discontinued classes in the 2019 to 2021 years of account. The RITC portion will be a \u2018Split\u2019 RITC as the 2018 and prior years of account have already been closed into MS Amlin\u2019s 2020 year of account.<\/p>\n\n\n\n<p>RiverStone International will undertake the split RITC and LPT through its specialist legacy syndicate 3500. The RITC and LPT became effective on 1st January 2023, with net technical provisions of \u00a31.2 billion.<\/p>\n\n\n\n<p>David Rocke, Group Head of M&amp;A of RiverStone International, said: \u201cWe are delighted that MS Amlin has once again chosen RiverStone International as its partner in meeting its strategic aims. This transaction further reinforces the trust key counterparties 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<p>Andrew Carrier, MS Amlin CEO, said: \u201cI am delighted we have completed this landmark transaction, which includes the largest third-party RITC in Lloyd\u2019s history. Through this transaction, we create the space to concentrate on our future strategy, reduce volatility, and better utilise our capital and resources. Transferring these legacy accounts to a trusted partner like RiverStone International, maintains our confidence in the support available from both our organisations to effectively service our clients\u2019 historic claims, as well as their current and future needs. I would like to thank RiverStone International for their professionalism, rigour and collaborative approach to partnership, as well as Gallagher Re for their vital support throughout this process.\u201d<\/p>\n\n\n\n<p>James Mounty, Global Leader of Customised &amp; Capital Solutions at Gallagher Re, commented: \u201cHelping clients maximise their capital efficiency is what drives our team of Retrospective Solutions\u2019 specialists, and we are pleased to have advised MS Amlin on this large and complex transaction. By devising innovative insurance restructuring solutions for clients\u2019 legacy portfolios, we can help them redeploy capital and take advantage of trading conditions. The scale of this transaction also demonstrates that the value and benefits created by back-book optimisation are increasingly accepted and embraced by those at the forefront of our industry.\u201d<\/p>\n\n\n\n<p><strong>About RiverStone International<\/strong><\/p>\n\n\n\n<p>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$11.6 billion of liabilities since 2010 and with around US$4.6 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<\/p>\n\n\n\n<p><strong>About MS Amlin<\/strong><\/p>\n\n\n\n<p>MS Amlin Underwriting Limited is a leading global (re)insurer, part of the global top-10 insurance group MS&amp;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 &amp; Casualty, Marine and Reinsurance markets.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.<\/p>\n\n\n\n<p><strong>Contacts:<\/strong><\/p>\n\n\n\n<p><strong>For RiverStone International:<\/strong><\/p>\n\n\n\n<p>Haggie Partners<br>Damian Beeley<br>Tel: +44 (0)207 562 4444<br><a href=\"mailto:Damian.Beeley@haggie.co.uk\">Damian.Beeley@haggie.co.uk<\/a><\/p>\n\n\n\n<p>RiverStone International<br>Federica Aversa, Global Brand and Communications Manager<br>Tel\u202f: +44 20 7398 4329<br><a href=\"mailto:federica.aversa@rsml.co.uk\">federica.aversa@rsml.co.uk<\/a><\/p>\n\n\n\n<p><strong>For MS Amlin:<\/strong><\/p>\n\n\n\n<p>FTI Consulting<br>Nathan Hambrook-Skinner<br>Tel: +44 (0) 7977 817092<br><a href=\"mailto:Nathan.Hambrook-Skinner@fticonsulting.com\">Nathan.Hambrook-Skinner@fticonsulting.com<\/a><\/p>\n\n\n\n<p>Shipra Khanna<br>Tel: +44 (0) 7866 822 205<br><a href=\"mailto:Shipra.Khanna@fticonsulting.com\">Shipra.Khanna@fticonsulting.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RiverStone International, the industry-leading acquirer and reinsurer of legacy and discontinued insurance business, has completed an agreement with MS Amlin Underwriting Limited to provide MS Amlin Syndicate 2001 (\u201cMS Amlin\u201d) with a Reinsurance-to-close (\u201cRITC\u201d) of the 2018 and prior years of account, and a Loss Portfolio Transfer reinsurance (\u201cLPT\u201d) of specific discontinued classes in the [&hellip;]<\/p>\n","protected":false},"author":3,"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-1578","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 - 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