• July 5, 2022
    David Rocke appointed as Group Head of M&A RiverStone International
    Press release   5 July 2022 RiverStone International, the industry-leading acquirer and reinsurer of legacy and discontinued insurance business, today announces that David Rocke has been appointed as Group Head of M&A.  David will continue his current role as Managing Director of RiverStone Insurance Bermuda Limited alongside this key appointment in RiverStone International’s growth strategy, Reporting in to David Rocke, Jamie Saunders, who has been with RiverStone since March, has been appointed as Chief Underwriting Officer and will also be based in Bermuda. Jamie brings with him nearly 20 years of experience in legacy insurance and reinsurance with a specific focus on transactions in Bermuda, the US and the UK, most recently in his former role as Head of M&A Operations and Integration at Enstar. Jamie will be responsible for the day-to-day operations of the Group M&A and Integration functions, as well as working with David Rocke on business development. David Rocke said: “I am excited to be taking on this expanded role at RiverStone and to be working with Jamie again.  We look forward to building on the foundations David Alexander laid and broadening RiverStone International's business globally in the coming years.” David Alexander, former Acquisitions and Business Development Director has been appointed Business Planning and Strategy Director. In his new role, David Alexander will support RiverStone’s financial development using his considerable expertise in insurance restructuring, run-off management and business transformation. Luke Tanzer, Chief Executive Officer of RiverStone International, said: “We are thrilled with the appointments of David Rocke, Jamie Saunders and David Alexander. All three are incredibly talented individuals and their experience will be essential as RiverStone International continues to expand worldwide. Our expertly skilled and talented team is reflected in RiverStone’s Internationals continued success and growing position within the market.”   -Ends- 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, RiverStone International has transacted a wide variety of deals – 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’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    Contacts: Haggie Partners Damian Beeley / Cordelia Hawkings Tel: +44 (0)207 562 4444 Damian.Beeley@haggie.co.uk  Cordelia.Hawkings@haggie.co.uk   RiverStone International   Federica Aversa, Global Brand and Communications Manager  Tel : +44 20 7398 4329  Federica.Aversa@rsml.co.uk   
  • June 27, 2022
    CONTINUING OUR COMMITMENT TO OFFSET ENERGY USAGE
     At the beginning of the year, we shared the news that we fully offset our 2020 energy usage. This milestone was possible also thanks to the collaboration with Climate Impact Partners, supporting one of their projects, The Aqua Clara Water Filters in Kenya.   Today we are pleased to announce that as part of our continued commitment to make a positive impact on climate change, we fully offset our 2021 energy usage by supporting the Clean Water and Cooking project in Guatemala. As over half of rural Guatemala does not have access to safe water, harvesting wood for boiling water is a major cause of deforestation. On top of the health risk of indoor smoke, many women and children must spend their time gathering fuel. The carbon finance allows the project to offer interest-free loans with no upfront cost so families can begin to save on fuel cost immediately. Together, the water filter and efficient cookstove can reduce a household’s fuel consumption and emissions by over half. The Ecofiltro ceramic filer is made locally of clay and sawdust; the project employs hundreds of people in local production and distribution. Through this project we have offset our energy use for 2021 based on the independent assessment of CO2 emissions produced by Coral Energy. RiverStone International is now looking to make further advances with energy sustainability to further limit its environmental impact and support more projects such as these. We are on track to have a comprehensive environmental, social and governance (ESG) policy in place by the end of the year and we look forward to updating you on progress over the coming months.          
  • June 24, 2022
    Acquisition of Argo Global Holdings (Malta) Ltd and its subsidiary by RiverStone Holdings Limited
    23 June 2022 Following the approval from the Malta Financial Services Authority (MFSA), RiverStone Holdings Limited can confirm that it has completed on the acquisition of ArgoGlobal Holdings (Malta) Ltd and its subsidiary, ArgoGlobal SE (“AGSE”). In additional, it should be noted that the AGSE name has changed to RiverStone Insurance (Malta) SE (“RMSE”).  Our key operational contacts are: Kevin Regan (Underwriting) rmse.uwsupport@riverstone.international Stephen Roberts (Claims) rmse.claims@riverstone.international Olivier D'Abadie de Lurbe (Reinsurance) rmse.reinsurance@riverstone.international Lucas Marshall (Delegated Authority Underwriting) rmse.bdx@riverstone.international Victoria Vincent (Delegated Claims) TPA@rsml.co.uk Danny Hinge (Complaints) complaints@rsml.co.uk Deeya Cheekhoree (Financial Sanctions Referrals) compliance@rsml.co.uk Bank Account Details In so far as making payments to RMSE, formerly AGSE, then please update the bank account name to “RiverStone Insurance (Malta) SE” and continue to use the existing bank account numbers.  Complaints If you have complaints handling authority from RMSE, formerly AGSE, then please process complaints received as they are currently processed. The only exception is that any final responses, where you currently handle complaints, should be sent to complaints@rsml.co.uk for review and agreement prior to issuance. If you do not handle complaints, then please forward all communications at the earliest opportunity to the same email address. Financial Sanctions   If you are paying claims, compensation, or making other financial transactions on behalf of RMSE, formerly AGSE, then please continue to ensure that all transactions are reviewed in line with EU, HMT, OFAC and United Nations financial sanctions requirements and that no payments are made in contravention of these. If you have any matches, or require further guidance, then immediately email compliance@rsml.co.uk on how to proceed.
  • May 18, 2022
    IRLA 2022: 60 Seconds Interview with Luke Tanzer
    The IRLA Congress returned to Brighton this week with a three-day event. As the Congress draws to a close, we caught up with Luke Tanzer, RiverStone’s CEO to get an insight on the main themes discussed and the key takeaways. Q. The return of in-person events brought everyone back together in Brighton for this iconic appointment in the legacy market’s calendar. Can you tell us what makes the IRLA Congress so special as an industry event? A. IRLA has a wide membership including buyers and sellers of legacy (re)insurance and a broad range of service providers, including the intermediaries that bring potential deals to the market. IRLA is ‘the voice of legacy’, encouraging and supporting the market, while also providing networking, training, and development opportunities. Additionally, they work with regulators to disseminate specific information and debate matters of interest to the legacy market. The Congress is special in that it brings all these parties together and encourages open communication and deep dives into some of the opportunities and challenges that the industry faces. Q. On this last point, can you tell us more about the challenges and opportunities that the legacy world is facing right now? A. Looking back at the past two years and the impact that COVID-19 has had on our industry, I believe that legacy has continued to deliver on the wider promise of protection, something that is important to all of us key players. Deals have become more sophisticated and while this is still a sellers’ market, we continue to focus on maintaining pricing discipline and resilience. The challenges faced by the industry including emerging claims and inflationary pressure, which were highlighted in panels at this year’s congress, should be also viewed as opportunities for the legacy market. We should continue to strive to provide innovative solutions to complex problems faced by the industry. Q. RiverStone has been a long-term supporter of IRLA. Can you tell us more about the role RiverStone plays and why is it important? A. We continue to recognise the importance of expanding a professional market for legacy transactions. Specifically, we believe in developing legacy market professionals and for this reason we fully support IRLA’s investment in the next generation of leaders. Their Young Professionals Group (YPG) is an outstanding mentoring scheme and will significantly contribute to fostering future talent. I would like to take this opportunity to congratulate Nicola Gaisford of R&Q on winning this year’s award and RiverStone's Gian Luigi Di Franco and Robbie Vaughan for their nominations. Q. And finally, what was your personal highlight of this year’s Congress? A. First and foremost, it was once again fantastic being able to meet with so many industry participants in person. The Association did fantastically well to hold the congress in September 2021 after a wait of over 2 years, but with the congress back to its usual time of the year and with a record attendance and fantastic format this year's congress felt very special after what has been a challenging time. Additionally, the Congress provides such a good platform to share insights in a collaborative, spontaneous and open manner. It was great that we took the time to recognise the outstanding contribution to the industry of colleagues who have recently or will soon retire, one of which was James Blake, senior manager, RSMA Claims, who had been with RiverStone for a long time. Finally, it was great to see the sun shining on the congress this year. Left to right: Gian Luigi Di Franco, Luke Tanzer and Robbie Vaughan
  • March 3, 2022
    RiverStone International completes RITC transaction with Hamilton
    03 March 2022 RiverStone International, the industry-leading acquirer and reinsurer of legacy and discontinued insurance business, today announces the completion of a reinsurance-to-close (RITC) transaction of the legacy liabilities of the 2019 and prior years of account of Acappella Syndicate 2014, managed by Hamilton Managing Agency Limited, a wholly owned subsidiary of Hamilton Insurance Group, Ltd. (“Hamilton”). This RITC with net technical provisions of over £200 million, received Lloyd’s approval in early February, with the RITC being effective from 1 January 2022. RiverStone International will now work with Hamilton to transition the business operations over the coming months. Luke Tanzer, chief executive officer of RiverStone International, said: “We are very pleased that Hamilton has again selected RiverStone as their partner for this transaction. This is further testament to our excellent reputation in the market and our ability to deliver legacy solutions for clients.” The transaction was facilitated by Aon’s Reinsurance Solutions Capital Advisory team.    Contacts: Haggie Partners Damian Beeley / Cordelia Hawkings Tel: +44 (0)207 562 4444 Damian.Beeley@haggie.co.uk  Cordelia.Hawkings@haggie.co.uk   RiverStone International   Federica Aversa, Global Brand and Communications Manager  Tel : +44 20 7398 4329  federica.aversa@rsml.co.uk   
  • February 24, 2022
    RiverStone International completes RITC transaction with MS Amlin
    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’s 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, 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. Andy Creed, Chief Financial Officer of RiverStone International, said:” 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’s excellent reputation is maintained, and their insureds continue to receive the highest possible level of service.” Phil Green, Chief Financial Officer, MS Amlin Underwriting Limited said: “This arrangement with RiverStone International helps us along our journey of transformation, by providing greater operational and financial simplicity for our business.”   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, RiverStone International has transacted a wide variety of deals – 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’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  About MS Amlin 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’s, 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. 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.   Contacts: For RiverStone Haggie Partners Damian Beeley / Cordelia Hawkings Tel: +44 (0)207 562 4444 Damian.Beeley@haggie.co.uk  Cordelia.Hawkings@haggie.co.uk RiverStone International   Federica Aversa, Global Brand and Communications Manager  Tel : +44 20 7398 4329  federica.aversa@rsml.co.uk   For MS Amlin FTI Consulting Shipra Khanna / Gina Magnin: +44 (0)7866 822 205 / +44 (0)7815 585 751
  • February 17, 2022
    ESG Update: An important milestone
    Like many firms, RiverStone International is concerned about its environmental impact and eager to do something about it. At the beginning of last year, we set ourselves the target of becoming carbon neutral in our energy usage by the end of 2021. By the start of this year, we were delighted to announce to all employees that we have fully offset our 2020 energy usage. Looking to improve upon this, we intend to continue to offset our energy usage and have a comprehensive environmental, social and governance (ESG) policy in place by the end of 2022.    With increased awareness and public understanding about climate change, demand is growing from various quarters for businesses to be more carbon aware and state what their ESG policy is. Becoming carbon neutral is achieved not only through partnerships with other organisations but also by being conscious of the many ways carbon can be reduced internally. The approach at RiverStone was to moderate and control factors in the everyday life of the company, such as improving technologies and assessing the necessity of travel. These initiatives have been put into practice within the business and will continue to produce environmental benefits. RiverStone also assessed how it could go about offsetting the energy use it couldn’t avoid. We were able to reach this target through collaborations with different organisations that all have environmental social governance at their core. Initially, we connected with Natural Capital Partners, experts on carbon neutrality and climate finance and we have offset our emissions through one of their projects that reduces emissions and has a positive environmental impact.  The Aqua Clara Water Filters project in Kenya provides safe drinking water for millions of Kenyans without the need to boil it first. Fewer than half of all Kenyans have access to safe drinking water, often collecting water from open rivers, streams and other unsafe sources. This leads to regular outbreaks of cholera and other water-borne diseases. People are encouraged to boil water before drinking to kill any pathogens, which is usually done by burning unsustainable sources of fuel like wood or charcoal, reducing forest cover, causing carbon emissions, and exposing people to household smoke. These methods clearly have poor environmental consequences which can be largely avoided by the use of Aqua Clara filters. The project brings affordable water filters to families and schools in Kenya, through community-led microfinance loans. Aqua Clara goes beyond providing the technology by also teaching people how to maintain the filters and to educate them on the importance of washing hands, fruit and vegetables, which helps to maintain the health of those communities. Through this project and the changes made to the internal running of the organisation, we managed to offset our energy use for 2020 based on the independent assessment of CO2 emissions produced by Coral Energy. RiverStone is now looking to make further advances with energy sustainability to further limit its environmental impact and support more projects such as these.
  • February 8, 2022
    RiverStone International launches Bermuda office and appoints David Rocke
    Press release  8 February 2022 RiverStone International, the industry-leading acquirer and reinsurer of legacy and discontinued insurance business, today announces that David Rocke has joined the company effective 1 February 2022 as managing director of their Bermuda division. Rocke has more than 25 years of experience in insurance and reinsurance legacy M&A, with a specific focus on transactions in Bermuda, the UK and the US. Prior to joining RiverStone, Rocke held the position of executive vice-president of M&A at Enstar and has been based in Bermuda since 2006. In this role he had a specialist focus on M&A projects and was responsible for numerous acquisition transactions involving billions of reserve liabilities. He also acted as a director for more than 20 regulated entities in Bermuda and the UK. Luke Tanzer, chief executive officer of RiverStone International, said: “We are delighted to welcome David to our group. He brings a wealth of market experience and will be central to the development of our Bermuda platform and achievement of our international growth plans. The talent within our team and their in-depth understanding of legacy and the wider insurance market is one of the key drivers of RiverStone’s continued success.” Rocke added: “RiverStone International has a well-deserved reputation in the legacy space and has been expanding at a rapid pace. I am thrilled to be joining at a time when the Bermuda and wider markets are presenting fantastic opportunities and I am looking forward to working with Luke and the team.” -Ends-   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, RiverStone International has transacted a wide variety of deals – 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’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    Contacts: Haggie Partners Damian Beeley / Cordelia Hawkings Tel: +44 (0)207 562 4444 Damian.Beeley@haggie.co.uk  Cordelia.Hawkings@haggie.co.uk   RiverStone International   Federica Aversa, Global Brand and Communications Manager  Tel : +44 20 7398 4329  federica.aversa@rsml.co.uk    
  • January 11, 2022
    RiverStone International completes loss portfolio transfer (LPT) reinsurance agreement with Canopius Group
    RiverStone International completes loss portfolio transfer (LPT) reinsurance agreement with Canopius December 24, 2021 Please read Canopius Group’s press release here: LONDON – 24th December 2021 - Canopius Group, a leading global specialty (re)insurer, today announces that it has completed a Loss Portfolio Transfer (LPT) agreement with RiverStone International (RiverStone). The agreement covers discontinued classes of business underwritten by Canopius’s Syndicates and will see RiverStone’s Syndicate 3500 indemnify Canopius against potential losses in respect of net liabilities valued at approximately $780m. The portfolio transfer was brokered by Gallagher Re. Nick Betteridge, Chief Actuary of Canopius, commented: “This LPT with RiverStone provides Canopius with finality on our discontinued lines, allowing us to focus on our core business and releasing capital to reinvest in support of our future growth aspirations. “With the current positive market environment, we see this as a great time to continue to invest and grow our business in 2022 and beyond.  I would like to thank Gallagher Re for their professional handling of this transaction and we look forward to working with RiverStone to transition the business over.” Riverstone’s CEO, Luke Tanzer, commented: “We are delighted to have executed this legacy portfolio transaction with Canopius, which continues to build upon our strong position in Lloyd’s.  We look forward to working closely with Canopius through the transition phase and to maintaining the high-quality level of service for policyholders and claimants”. – Ends – For further information please contact: David Haggie / Richard Adams, Haggie Partners                                       +44 20 7562 4444
  • December 20, 2021
    RiverStone International to acquire Argo Group International Holdings Ltd.’s Malta business operations, ArgoGlobal Holdings (Malta) Ltd. and its subsidiaries.
    December 20, 2021 “We are delighted to have executed a second legacy transaction with the Argo Group, which strengthens our important business relationship,” said Luke Tanzer, RiverStone International’s CEO. “We look forward to working closely with Argo through the completion phase and to continue to service ArgoGlobal SE policyholders and claimants to the high standards currently provided.” Please read Argo Group’s press release here: Argo Group Announces Sale of ArgoGlobal SE  HAMILTON, BERMUDA – Dec. 20, 2021 – Argo Group International Holdings Ltd. (NYSE: ARGO), an underwriter of specialty insurance, today announced an agreement to sell its Malta business operations, ArgoGlobal Holdings (Malta) Ltd. and its subsidiaries, to Riverstone Holdings Limited (part of the RiverStone International group), an industry-leading acquirer and reinsurer of legacy and discontinued insurance businesses. Closing of the transaction is subject to regulatory approval and is expected to occur during the first half of 2022. “This sale supports our strategy to focus on U.S.-based specialty insurance risks,” said Andy Borst, interim president of international operations. ArgoGlobal SE business was primarily focused on insuring risks in Europe and has not been actively underwriting business since 2020. “We are delighted to have executed a second legacy transaction with the Argo Group, which strengthens our important business relationship,” said Luke Tanzer, RiverStone International’s CEO. “We look forward to working closely with Argo through the completion phase and to continue to service ArgoGlobal SE policyholders and claimants to the high standards currently provided.” The terms of the agreement were not disclosed. ABOUT ARGO GROUP INTERNATIONAL HOLDINGS LTD. Argo Group International Holdings Ltd. (“Argo”) (NYSE: ARGO) is an underwriter of specialty insurance products in the property and casualty market. Argo offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo and its insurance subsidiaries are rated “A-” by Standard & Poor’s. Argo’s insurance subsidiaries are rated “A-” by AM Best. More information on Argo and its subsidiaries is available at argogroup.com. Investors: Greg Charpentier Investor Relations 646-312-6622 gregory.charpentier@argogroupus.com Media: David Snowden Senior Vice President, Argo Group Communications 210-321-2104 david.snowden@argogroupus.com Federica Aversa Global Brand & Communications Manager +44 (0) 207 398 4329 federica.aversa@rsml.co.uk