{"id":2267,"date":"2024-08-09T17:41:05","date_gmt":"2024-08-09T16:41:05","guid":{"rendered":"https:\/\/www.rsml.co.uk\/?p=2267"},"modified":"2024-08-09T17:41:07","modified_gmt":"2024-08-09T16:41:07","slug":"riverstone-international-announces-loss-portfolio-transfer-deal-with-qbe","status":"publish","type":"post","link":"https:\/\/www.rsml.co.uk\/2024\/08\/riverstone-international-announces-loss-portfolio-transfer-deal-with-qbe\/","title":{"rendered":"RiverStone International Announces Loss Portfolio Transfer Deal with QBE"},"content":{"rendered":"\n<p>Hamilton, Bermuda, August 9 2024 &#8211; RiverStone International today announced an agreement with QBE to provide a Loss Portfolio Transfer reinsurance (&#8220;LPT&#8221;) for various QBE subsidiaries, including their Lloyd\u2019s syndicates. This transaction covers a diversified portfolio of business from International and North America markets and includes premiums earned through June 30, 2024.<\/p>\n\n\n\n<p>Pending regulatory approvals and satisfaction of closing conditions, the LPT will be effective July 1, 2024. RiverStone subsidiaries will assume subject reserves of $1.2 billion.<\/p>\n\n\n\n<p>David Rocke, group head of M&amp;A and managing director of RiverStone International Bermuda Limited, commented: \u201cIn our continuing drive to become the premier acquirer of legacy business, we are very pleased that QBE has chosen RiverStone International for this transaction. This agreement marks a significant milestone in our acquisition strategy and considerably strengthens our Bermuda operations. Moreover, we will leverage the platform and expertise from our newly acquired U.S. operations to manage this business and welcome new talented colleagues from QBE upon closing. The collaboration between our teams during the structuring and negotiation phases has been exceptional, and we look forward to building a long-term partnership with QBE.\u201d<\/p>\n\n\n\n<p>Luke Tanzer, group chief executive officer of RiverStone International, said: \u201cThis transaction confirms our commitment to international growth and demonstrates our global capability through the utilisation of our Bermuda, US, and Lloyd\u2019s platforms. We are delighted to be transacting and building our strategic relationship with QBE, one of the world\u2019s leading insurance and reinsurance groups\u201d.<\/p>\n\n\n\n<p>Nick Schulson, CEO of RiverStone International Insurance Inc. said: \u201cWe are excited to welcome our new colleagues and look forward to building on their expertise to enhance our U.S. operations. It\u2019s thrilling to be supporting RiverStone International&#8217;s growth so soon after joining the group. This integration is a testament to our commitment to strengthen our North American capabilities while fostering a collaborative and inclusive work environment&#8221;.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Media Contacts:<\/strong><\/p>\n\n\n\n<p>RiverStone International&nbsp;&nbsp;<br>Federica Aversa, Global Brand and Communications Manager&nbsp;<br>Tel: +44 20 7398 4329&nbsp;<br><a href=\"mailto:federica.aversa@rsml.co.uk\">federica.aversa@rsml.co.uk<\/a><\/p>\n\n\n\n<p>Haggie Partners<br>Damian Beeley \/ Bec Seaton<br>Tel: +44 (0)207 562 4444<br><a href=\"mailto:Damian.Beeley@haggie.co.uk\">Damian.Beeley@haggie.co.uk<\/a><br><a href=\"mailto:Bec.Seaton@haggie.co.uk\">Bec.Seaton@haggie.co.uk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hamilton, Bermuda, August 9 2024 &#8211; RiverStone International today announced an agreement with QBE to provide a Loss Portfolio Transfer reinsurance (&#8220;LPT&#8221;) for various QBE subsidiaries, including their Lloyd\u2019s syndicates. This transaction covers a diversified portfolio of business from International and North America markets and includes premiums earned through June 30, 2024. Pending regulatory approvals [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-2267","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 Announces Loss Portfolio Transfer Deal with QBE - 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\/2024\/08\/riverstone-international-announces-loss-portfolio-transfer-deal-with-qbe\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RiverStone International Announces Loss Portfolio Transfer Deal with QBE - RiverStone International\" \/>\n<meta property=\"og:description\" content=\"Hamilton, Bermuda, August 9 2024 &#8211; RiverStone International today announced an agreement with QBE to provide a Loss Portfolio Transfer reinsurance (&#8220;LPT&#8221;) for various QBE subsidiaries, including their Lloyd\u2019s syndicates. 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