RiverStone International has entered into a loss portfolio transfer (LPT) reinsurance and insurance business transfer agreement with the French branch of Zurich Insurance.

The agreement includes compensation portfolios for motoring professionals and French architects and engineers.

Once regulatory approvals are obtained, RiverStone International Ireland DAC will assume full responsibility for the portfolios.

The move is said to take advantage of RiverStone’s global structure, with RiverStone International Bermuda Limited providing the LPT.

David Rocke, Managing Director and Head of M&A, RiverStone International Bermuda Limited, commented: “It was a pleasure to work with the Zurich team again to deepen the connection between our respective organisations.”

RiverStone International Ireland chief executive Brian Myles said: “We are delighted to have worked with Zurich on these transactions and look forward to fully integrating the portfolios during 2025, whilst continuing to offer the highest level of service to Zurich’s policyholders” .

This November, RiverStone he concluded an LPT arrangement with QBE Insurance Group.

This deal sees RiverStone’s subsidiaries take on subject reserves worth $1.2 billion (£925.35 million).

It encompasses a diversified portfolio of international and US markets, covering premiums earned through June 30, 2024.

RiverStone International has completed various transactions including portfolio transfers, reinsurance arrangements and company acquisitions.

According to its website, RiverStone International has acquired more than $15.5 billion in liabilities since 2010 and has approximately $6 billion in liabilities under live management.

With a global presence, RiverStone operates through multiple offices and subsidiaries in the UK, Malta, Ireland and Bermuda.

“RiverStone seals LPT deal with Zurich France group” was originally created and published by International life insurancea trademark owned by GlobalData.

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