RiverStone has built a reputation as a “best in class” run-off specialist, both as a highly effective operator and as a respected employer. The continuous evolution of our business and our associates is both a collective and individual responsibility, fostered by an entrepreneurial environment where associates are fulfilled and valued.
For sellers, brokers, and other stakeholders, we strive to be unassuming, straight-forward, and easy to engage. We have always stood for and always will aim towards responsible run-off. We will never compromise the honesty and integrity that are essential to all our relationships.
Fairfax Values Define Who We Are
- We are results oriented – not political.
- We are team players – no egos.
- We are loyal to each other and to our stakeholders.
- We are hard-working but not at the expense of our families.
- We seek opportunities but emphasize downside protection.
- We are entrepreneurial and encourage calculated risk taking.
- We will never bet the company on any project or acquisition.
- We believe in having fun – at work!
“Compared to competitors – RiverStone is exceptionally trustworthy and reputable.”
Global Insurance Broker
Our professional ethos ultimately translates into better service for claimants, greater risk control for insurers, and higher returns for shareholders. We believe greater openness and collaboration create better deals for everyone, leading to practical relationships that are friendly and flexible.
We are the professionals in our industry.
Sellers, advisors, and brokers we work with use this term to describe us, over and over. At the same time, we are responsible for the industry’s most creative and sustainable deals. We actively foster a family culture, and we care about our values and our people. We are an understated and powerful force for great in global run-off.
Our Leadership Team
RiverStone is a highly experienced group of global professionals from various disciplines.
The RiverStone Group is a group of insurance, reinsurance, and service companies specializing in the management of legacy and run-off insurance businesses and portfolios. As an industry leader in claims resolution, reinsurance recovery, and dispute resolution, we employ over 400 professionals worldwide, operating globally across multiple offices and affiliates spread throughout the US and the UK.
RiverStone comprises a highly experienced group of international professionals from various disciplines, including finance, actuarial, litigation, claims handling, technology, and HR. Our team has worked on numerous high-profile, global run-off transactions, and our executives typically have more than 25 years of industry experience and on average have been with the company for over 15 years.
Chairman of the Board and Chief Executive Officer
With over 30 years of experience in the insurance and reinsurance industries, Nick leads the RiverStone organization. He has served a number of roles with RiverStone and its predecessors for almost 20 years. Before joining RiverStone, Nick was responsible for the claims settlements across all classes of reinsurance business at Lloyd’s. Prior to that, he spent over 15 years working with Lloyd’s brokers, which culminated in the role of Chief Executive of Alwen Hough Johnson Management Services Ltd.
Fun Fact: Nick enjoys traveling and skiing, and is an avid fan of Stoke City Football Club (the second oldest and poorest performing professional football club in the world).
UK Managing Director
With over 25 years in insurance and reinsurance industries, Luke runs RiverStone’s UK operations. He joined RiverStone in 1998 and has held a number of positions including Head of Workout, Reinsurance Director and Operations Director before his promotion to Managing Director in 2009. Prior to RiverStone, Luke spent a number of years in the Claims and Placing Divisions of Alwen Hough Johnson and Sedgewick Re. Luke was also a Board Member of the Insurance Reinsurance Legacy Association (IRLA) from 2005-2013. Luke graduated from James Cook University, North Queensland with a Bachelor of Economics.
Fun Fact: Luke walks to stay fit and since July 2015, he has walked over 5,000 miles and climbed over 35,000 floors.
With over 25 years of insurance industry experience, Matt leads the Actuarial and Business Development groups in the US. Prior to RiverStone, he worked at Crum & Forster for 10 years, the last six years as Chief Actuary. Before that Matt was a consulting actuary for Milliman Inc. for 5 years in New York, working on a variety of consulting assignments in the US and Europe. He began his career as a consulting actuary for Deloitte (formerly Bacon & Woodrow) in London. Matt earned a BSc with Honors, in Mathematics and Economics from the University of Bristol.
Fun Fact: Matt is a big golf fan (and golfer) in the summer and likes to hit the ski slopes in the winter.
Chief Financial Officer
With over 20 years of experience in the reinsurance industry, Deborah is responsible for running the financial aspect of RiverStone worldwide. Prior to joining RiverStone, Deborah served in several leadership roles with OdysseyRe, including Vice President of Finance and Senior Vice President and Chief Agent for the company’s Canadian Branch. She has also held multiple finance leadership roles at Swiss Re, including CFO and Vice President of Strategic Planning and Capital Management for their Canadian Property & Casualty business. Deborah is a Chartered Professional Accountant of Ontario (CGA) and holds an MBA from the Richard Ivey School of Business and a BA in Economics from the University of Western Ontario.
Fun Fact: Deborah is a hockey goalie mom and enjoys watching NHL games, supporting the Toronto Maple Leafs.
With over 25 years of experience, Lorna is responsible for all finance and actuarial related matters for RiverStone UK. She joined RiverStone UK in 1998 as Deputy Accountant, after which time she was appointed Head of Finance (2003) and then Finance Director (2008). Prior to joining RiverStone, she spent ten years at a UK accountancy practice where she qualified as a chartered accountant in 1991 and was involved with a wide variety of clients, resolving numerous complex financial issues. Lorna earned her BA with Honors in Accounting and Finance and achieved a First from the University of Brighton.
Fun Fact: Lorna enjoys spending time in her garden to see what she can grow.
Nina Lynn Caroselli
With over thirty years of experience in insurance and litigation, Nina has taken on responsibility for providing advice and counsel to the run-off team with respect to some of the more significant risks it faces. Currently her primary focus is advising the Company on its global asbestos strategy. She began her career in private practice in New York and New Jersey specializing in the litigation of insurance coverage and product liability matters. Subsequently she moved in house joining the run-off team in 1996 as Senior Attorney focusing on asbestos, pollution and health hazard claims. Nina’s career with RiverStone has progressed and varied in responsibility having had executive responsibilities for Claims, Reinsurance and Operations. Nina earned her law degree from St. John’s University School of Law. She is a member of Perrin Conferences advisory board and is a frequent speaker at industry seminars and conferences.
Fun Fact: Nina spends her free time at the Jersey Shore, west coast of Florida, or the Caribbean where she enjoys fishing, boating, and swimming.
Nina Lynn Caroselli
With over 20 years of experience in the insurance industry, Mark is responsible for the Claims and Reinsurance Departments of RiverStone UK. He joined the company in 1994 as a key contributor on the Technical Team of Sphere Drake Underwriting Management. While at RiverStone, he has managed the Financial Run-off Unit, the Commutations Group, and the Workout and Reinsurance teams. From 2014 to 2016, Mark spent two years as Vice President and member of the US Leadership Team before returning to the UK to fill his current role. He received his Bachelor of Arts with Honors in Public Administration from the University of South Wales.
Fun Fact: Mark is an avid swimmer and is related to Roger Bannister, a world-class runner who broke the 4 minute mile barrier.
Chief Claims Officer
With over 20 years of experience in the Property/Casualty Insurance Industry, Bob runs the Claims department at RiverStone US. Bob joined RiverStone in 1996 as a claims professional, managing and resolving some of the organization's largest claims and coverage disputes. As the former Director of Claims Training and Development, Bob has been responsible for coaching and developing RiverStone's claims staff. Prior to RiverStone, Bob was an Account Executive with Travelers Insurance Company, specializing in asbestos, pollution, and health hazard claims. He earned his BA in Economics from Bucknell University.
Fun Fact: Bob is an avid sports fan, a die-hard NY Giants and NY Yankees supporter in particular, and coaches youth football and baseball in his local community.
With 35 years in the insurance industry, Stephen oversees all inwards claims into the RiverStone Europe Group. He joined RiverStone in 2012, and has served in a number of industry leadership roles and trade groups, including the Insurance and Reinsurance Legacy Association (IRLA) as well the Board of the Claims Faculty of the Chartered Insurance Institute. Stephen is ACII qualified and prior to RiverStone, he was with Brit Insurance for 10 years, most recently as Head of UK Claims. He also helped found Specialist Liability Insurance Limited, a loss adjusting company. Stephen joined Lloyd’s Broker Leslie & Godwin directly after successful completion of his A levels in English, History and Economics.
Fun Fact: Stephen is a rock-and-roll and blues drummer who plays in several bands.
Acquisitions & Business Development Director
With over 25 years of both live and run-off experience, Tony is currently the Acquisitions and Business Development Director for RiverStone Management Limited, responsible for managing the processes around due diligence and integration of new portfolios into RiverStone. He also leads the reinsurance activity for the RiverStone Europe Group, including technical reinsurance issuance, credit control, and commutation activity. Tony joined RiverStone in 1991 and has held various management positions, including Head of Special Projects, Lloyd’s Run-off Manager and Reinsurance Director. He graduated from Brighton University with a BSc in Combined Sciences (Mathematics and Physics).
Fun Fact: Tony is related to comedian Ronnie Corbett, who is famous for the "Four Candles" sketch.
General Counsel, Director of Litigation
With over 27 years resolving complex insurance and reinsurance issues, Rich leads a team of experienced professionals responsible for all legal matters in the U.S. He joined RiverStone in 1999 and has served as Senior Latent Claims Attorney, Director of Assumed Reinsurance, Director of Litigation, and General Counsel. Before RiverStone, Richard was national counsel to various international insurers and reinsurers at Luce, Forward, Hamilton & Scripps. He earned his BA in English from Marquette University and a Juris Doctor from Boston University School of Law.
Fun Fact: Rich enjoys, writing, fishing, and building intricate wooden replicas of famous ships, while spending his leisure time along the shore in Rockport, Massachusetts.
Director, General Counsel & Company Secretary
With over 20 years of legal experience, Fraser is responsible for all corporate legal, company secretarial, and litigation matters for the RiverStone UK group. Fraser joined RiverStone as a Corporate Solicitor in 2004 with 8 years’ corporate legal experience. He was promoted to General Counsel and Company Secretary in 2007 and appointed to the Board of RiverStone Management Limited in 2012. Prior to joining RiverStone, Fraser worked in the corporate departments of DMH and Osborne Clarke. Fraser graduated from the University of Manchester with a BA in Economics and was awarded an LLM in Commercial Law from Bristol University.
Fun Fact: Once when visiting Japan, Fraser got himself invited backstage to a theatre performance and played the role of a drunken Samurai warrior.
Chief Human Resources Officer
With over 25 years of experience in HR, Jim is responsible for all the human capital processes that drives employee development at RiverStone US. As part of the company's belief that people are our most important asset, Jim ensures that all employees have the opportunity to participate in their own growth to contribute to the organization’s success. Prior to RiverStone, Jim was an HR executive with Kroll, Inc. He earned his BA at The University of Vermont, and his MA in Organizational Psychology from Columbia University.
Fun Fact: Jim enjoys sailing and alpine skiing, while his work has found him living in a wide range of locations, from national parks to a Caribbean island and major U.S. cities.
Head of Human Resources
With over 30 years of HR experience, Judith is responsible for all elements of the Human Resources function for the RiverStone UK group. She is proud to have spent her entire career at RiverStone, having joined the company as a Recruitment Officer in 1987. She was appointed Head of HR in 2006 having been promoted several times within the department in the intervening years. Judith graduated from the University of Greenwich with an upper second class BA with Honors in Business Studies, majoring in Human Resources, and has been a member of the Chartered Institute of Personnel and Development ever since.
Fun Fact: Judith currently spends most of her holiday time on the Mediterranean coast of Spain where she is renovating a property and dabbling with learning the language.
We are results oriented – not political.
We are team players – no egos.
We are loyal to each other and to our stakeholders.
We are hard-working but not at the expense of our families.
We seek opportunities but emphasize downside protection.
We are entrepreneurial and encourage calculated risk taking.
We will never bet the company on any project or acquisition.
We believe in having fun – at work!