- Acquires discontinued portfolios to which we ensure security, finality, and reputation for sellers.
- Engages in alternative deal structures that include both stand-alone entities, as well as companies with ongoing premiums that may be transferred to affiliates.
- Seeks to acquire loss portfolio transfers focused on specific classes, portfolios, or years of account, including limited reinsurance and RITC transactions within Lloyd’s.
- Transfers claims control directly to RiverStone using a wide variety of insurance and reinsurance solutions.
- Retains a highly skilled and dedicated workforce to analyze and engage opportunities in this dynamic, complex, and fast-moving marketplace.
- Sets no short-term targets or goals for acquisition transactions, which allows us to remain smartly opportunistic and adaptive to market trends and sellers’ needs.
- We offer Sellers broad capacity and options for deals of various sizes and scope.
- We are known as specialists among our peers in certain areas and are capable in many… and will tell you if not.
- We have established and highly functional relationships with regulators.
- We are the only Lloyd’s Managing Agency specialising exclusively in run-off.
- Our due diligence establishes the standard of care in run-off.
- We are consistent and reliable in our pricing.
- Several sellers like what we do and come back to us, repeatedly.
*Based on third-party market research commissioned by RiverStone
RiverStone offers sellers a concentration of complex claims management expertise in one place, managed by skilled and tenured professionals who employ ownership, accountability, and commitment to cultivate transactional security and maintain sellers’ reputations.
RiverStone has transacted various types of deals – from insurance and reinsurance run-off portfolio purchases to outright acquisitions. We approach all our deals and stakeholders with the same level of professional integrity, innovation, and scrutiny to maximize the outcomes for sellers (finality, price, and reputation management) and shareholders, alike.
Insurance and Reinsurance Lines of Business that We Cover Include:
Asbestos, Pollution, and Health Hazard
Employers Liability and Public Liability
Personal and Commercial Auto
Marine and Aviation
Successful RiverStone transactions have included active company acquisitions with transfer of renewal rights to affiliates, active company acquisition with termination of policies in force, and inactive company acquisitions. In the UK, we have closed multiple RITC transactions and provided portfolio reinsurance run-off for multiple companies.
In fact, we are constantly “on the move” for our clients. Worldwide, RiverStone manages more than 500 active litigations and arbitrations for seller portfolios, and we have negotiated over 200 commutations of assumed and ceded reinsurance arrangements over the past 20 years.
Over the course of our history, RiverStone has successfully resolved legacy claim and reinsurance issues, as well as contributed to the establishment of industry case law positively affecting our clients.
- Major Toxic Tort actions – Sarabond, Breast Implants, Blood/HIV, Agent Orange, Polybutylene Pipe and numerous other Asbestos and Pollution matters
- Significant Asbestos bankruptcies including Manville, Clemtex, and many others
- Chinese Dry Wall exposure
- Stirling Cooke Brown assumed spiral litigation
- Asbestos allocation issues in Owens Corning case
- Significant arbitrations on retrospective reinsurance, workers’ compensation, and managed care
of our deals have been exclusive
of our deals have been brokered through third parties
of our deals are with repeat sellers, influenced by prior deals and relationships
The only specialist run-off provider operating at Lloyd’s of London
RiverStone and Lloyd’s have collaborated over a number of deals in a very relationship-driven approach, working on both discontinued structures and RITCs. Focused on simplifying administrative issues, RiverStone operates in a “state of readiness” for new deal types where we can deliver finality and peace of mind.
Speed and safety, all in one place
For one UK insurer, the Seller cared most about reputation and a quick close. RiverStone flexibly oriented ourselves to serve and support a complex situation with multiple parties. The deal closed in 90 days, from NDA to execution. RiverStone handled the volume of capital and claims that the transfer of the book required, including the migration of over 30 employees to RiverStone. The Seller invited RiverStone to its next deal elsewhere in Europe as a result.
Discretion and professionalism take the day
The Seller sought a profitable exit with legal finality. RiverStone’s due diligence differentiated our view of what was possible and what could make this deal work for everyone. In a very collaborative process with the Seller’s third-party broker, RiverStone stood out among two other run-off providers as the chosen partner. RiverStone’s due diligence paid off for all the stake holders, yielding savings that were divided among the parties involved.
American Safety Holdings Corporation
Safe hands for shareholders and claimants alike
Driven by Board-level directives to take care not only with the price but with the reputation of the company and service delivery to claimants, the Seller approached several potential run-off providers. RiverStone was selected for our approach to the company and its policy holders, as well as for the fair value we were able to give the Seller. RiverStone offered a “safe harbor” for claimants and shareholders.
Offering the right security and price in an absolute solution
Seeking the most competitive price, the Seller approached multiple providers and then circled back to complete the deal with RiverStone. The deal was closed within 6 weeks, and RiverStone gave the Seller economic certainty (and a reliable price), as well as the legal transfer of exposures. The security of RiverStone was primary, so that the Seller could tell the rating agencies that they had an absolute solution.