Log In

Reset Password
BERMUDA | RSS PODCAST

RiverStone completes deal for Irish insurer

Luke Tanzer, group chief executive officer of RiverStone International (File photograph)

RiverStone International has completed the acquisition of Catalina Insurance Ireland, an insurance company regulated by the Central Bank of Ireland.

The acquiring company is an industry-leading acquirer and reinsurer of legacy and discontinued insurance business operating in the Bermuda, British company, Lloyd’s of London markets, and Europe.

RiverStone said it was the largest provider of legacy solutions in Lloyd’s.

The transaction received regulatory approval in January and closed last Friday.

RiverStone said Catalina Insurance Ireland had total reserves of approximately $350 million emanating mainly from a German med-mal portfolio and a British and Irish motor portfolio.

Luke Tanzer, group chief executive officer of RiverStone International, said: “We are very pleased to welcome the Irish team to RiverStone International.

“This acquisition demonstrates our commitment to delivering on our geographical expansion strategy and in particular our objective to continue to grow our capabilities within the European market."

RiverStone said it had transacted a wide variety of deals – from insurance and reinsurance portfolio transfers to company purchases, acquiring more than $14.1 billion of liabilities since 2010 and with around $7.5 billion of total liabilities.

You must be Registered or to post comment or to vote.

Published February 06, 2024 at 6:03 pm (Updated February 06, 2024 at 6:39 pm)

RiverStone completes deal for Irish insurer

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon