11 Sep, 2023
RiverStone International broadens European reach with Catalina Insurance Ireland acquisition
11 September 2023
RiverStone International, the largest provider of legacy solutions in the Lloyd’s market, has signed an agreement with members of the Catalina Group to acquire Catalina Insurance Ireland, an Irish insurance company regulated by the Central Bank of Ireland. The acquisition remains subject to regulatory approvals.
Catalina Insurance Ireland has two main portfolios: a German med-mal book and a UK motor portfolio. Total reserves were approximately US$350m at the time of evaluation.
Luke Tanzer, chief executive officer of RiverStone International, said: “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”.
Notes to Editors
About RiverStone International
RiverStone International is an industry-leading acquirer and reinsurer of legacy and discontinued insurance business. Operating in the UK company and Lloyd’s of London markets, Bermuda, and Europe, RiverStone International has transacted a wide variety of deals – from insurance and reinsurance portfolio transfers to company purchases, acquiring over US$14.1billion of liabilities since 2010 and with around US$7.5billion of total liabilities. RiverStone International’s 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’ reputations. For further information about RiverStone International please visit: www.rsml.co.uk
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