• June 25, 2019
    60 seconds interview with Stephen Roberts – IRLA 2019
    Recently RiverStone UK sponsored the Insurance and Reinsurance Legacy Association (IRLA’s) annual conference at the Grand Hotel in Brighton. Claims Director Stephen Roberts has formally become IRLA’s new Chairman, succeeding Paul Corver. We caught up with Stephen on his new appointment and the role of IRLA in our industry.   Q: What is IRLA and what role does it play within the Legacy world? IRLA has a wide membership, which include buyers and sellers of legacy (re)insurance and a wide range of service providers, including the intermediaries that bring potential deals to the market. IRLA considers itself to be “the voice of legacy” encouraging and supporting the legacy market, providing networking opportunities, training and development. We also work with regulators to disseminate regulatory information and debate matters of interest to the legacy market. Q: RiverStone is a main sponsor of the annual conference, can you tell us more about the role we play from within and why is it important? Riverstone has been a long term supporter of IRLA, recognising, the benefit of developing a professional market for legacy transactions. We also support IRLA’s aim to develop legacy market professionals, through the IRLA Young Professionals Group (YPG) and the IRLA mentoring scheme. Q: Many congratulations on your appointment, can you tell us more about your Chairman role? Thank you! Having been a board member of IRLA for four years, I was excited by the opportunity that chairing IRLA presents. It enables me to champion professional development within the legacy market space and to demonstrate the high degree of skill and professionalism we can bring to resolving legacy claims. Q: What do you think will be the biggest challenge for the industry and the association? Ensuring that we maintain our discipline as a market as we grow, thereby retaining the confidence and support of our clients and the regulators. Q: What do you hope will be your biggest achievement? Confirmation from our members that IRLA helped make Legacy a market of innovation and career opportunity and that we were able to create elegant and fair solutions to historical claims issues. Q: And finally, why is the Legacy market an exciting place to be in right now? There are new models being developed for legacy disposals in the USA and surveys showing multi-billions of dollars of potential legacy business along-side of an active and growing market; there are tremendous opportunities for legacy acquirers and the potential to be engaged in solving some of the most complex (re) insurance issues of our time.
  • April 24, 2019
    RiverStone at the 2019 Fairfax AGM
    On April 11th, RiverStone attended the Fairfax Annual General Meeting held at the Roy Thomson Hall in Toronto, Ontario. For the second consecutive year, RiverStone had a booth at the event showcasing its brand, complete with striking banners, information sheets, and branded swag.   The event was another huge success as the booth drew attention and sparked conversation from shareholders and affiliates alike. We look forward to attending again in 2020.  
  • March 8, 2019
    Loss Portfolio Reinsurance contract with Brit for certain discontinued lines
    With effect from 30th November 2018, RiverStone completed the acquisition of certain discontinued business from Brit Syndicate 2987 ("Brit") through a loss portfolio transfer ("LPT") reinsurance arrangement. The business comprises of the following two portfolios: Non-US Professional Indemnity ("Non-US PI") portfolio - excess of loss insurance business written from 2002 to 2017 covering risks emanating primarily from the UK and Australia; and Historical discontinued legacy portfolios UK employers' liability ("EL") and public liability ("PL") business written from 2002 to 2014; and Aviation Hull and Cargo business written from 2002 to 2004; and discontinued UK property and professional indemnity business written from 2002 to 2012. Please direct any correspondence pertaining to risks written in these portfolios within the stated years of account to their dedicated mailboxes at RiverStone, as follows: Non-US Professional Indemnity to Legatum_PI@rsml.co.uk UK Employers' and Public Liability to Legatum_EL_PL@rsml.co.uk Aviation Hull and Cargo to Legatum_Discontinued@rsml.co.uk Please note, that under the LPT, RiverStone has assumed the responsibility of handling all claims within the portfolio, however in the event that a claim is directed to RiverStone or Brit Syndicates in error, it will be redirected to the correct handling entity and you will be informed of any such redirection. For further information please contact: Luke Tanzer Managing Director RiverStone Managing Agency Limited Luke.Tanzer@rsml.co.uk
  • January 2, 2019
    Novation of Advent syndicate to RiverStone
    RiverStone is pleased to announce that with effect from 1 January 2019 all years of account of Lloyd’s Syndicate 780, which were under the management of Advent Underwriting Limited, have been novated to the management of RiverStone Managing Agency Limited. RiverStone is also delighted to welcome 51 London-based colleagues who will transfer from Advent to RiverStone, bringing a wealth of experience and skills across all aspects of the business.  The extended team will continue to work out of our London office at number 2 Minster Court.  This novation results from a strategic review by Advent of its business model in July 2018, with the consequent changes being implemented by Advent and RiverStone over the course of the 4th Quarter 2018. For further information please contact: Luke Tanzer  Managing Director  RiverStone Managing Agency Limited Luke.Tanzer@rsml.co.uk
  • November 29, 2018
    RiverStone was proud to sponsor the Broking Team of the Year award
    RiverStone was proud to sponsor the Broking Team of the Year award at last week’s Insurance Day London Market Awards ceremony in memory of Brian Caudle, founder of Syndicate 780. Brian was a long-term business partner and friend of RiverStone and its affiliates. He was awarded Insurance Day’s Lifetime Achievement Award at the Worldwide Reinsurance Awards in 2012 for his 60 years of service in the industry. Congratulations to AON Securities on winning this category.
  • November 27, 2018
    RiverStone takes on a new historical disease liability book of business
    Effective October 1st 2018 (re)insurer, RiverStone Insurance (UK) Limited (“RiverStone”) have taken on a new historical disease liability book of business from AXA Insurance UK plc (“AXA”) AXA’s book of UK, Channel Islands and Isle of Man employers’ liability and public liability policies issued prior to 1st January 2002 will transfer to RiverStone, while disease claims related to AXA policies issued between the same date and 31st December 2014 will be reinsured by RiverStone. This includes claims relating to mesothelioma, noise induced hearing loss (NIHL) and other industrial related diseases. The transfer was sanctioned by the High Court on September 14th 2018 as an insurance business transfer pursuant to Part VII of the Financial Services and Markets Act 2000 (“Part VII Transfer”). On October 1st 2018 Riverstone officially opened a new office in Ipswich Suffolk to accommodate 39 AXA Liabilities Managers’ employees who have transferred to the RiverStone Group. These employees were responsible for the day to day management and administration of the book of business for AXA and their transfer ensures continuity of service for customers. This does not affect any other part of the AXA Liabilities Managers’ or AXA’s operations.   Nick Bentley, President of the RiverStone Group said: “RiverStone are delighted to be have partnered with AXA on these transactions. We have worked closely and collaboratively with AXA to ensure that their strategic objectives are achieved, and through our responsible management and adherence to our core principle of treating customers and other stakeholders fairly, we will ensure that their excellent reputation is maintained. This is a ground-breaking achievement being the first significant Part VII transfer comprising solely Employers Liability and Public Liability policies. The timely completion of the Part VII is testament to RiverStone’s ability to design and execute complex finality solutions in accordance with our partners expectations and our own high standards.”
  • May 14, 2018
    RiverStone at the 2018 Fairfax AGM
    On April 26th, RiverStone attended the Fairfax Annual General Meeting held at the Roy Thomson Hall in Toronto, Ontario. Each year, Prem Watsa, founder, chairman and CEO of Fairfax invites representatives of all Fairfax companies and its shareholders to learn of prior year financial results and future initiatives. For the first time, RiverStone had a booth at the event showcasing its new brand, complete with striking banners, information sheets, and branded swag. The event was a huge success as the booth drew attention and sparked conversation from shareholders and affiliates alike.
  • May 14, 2018
    RiverStone Spirit Week raises $184,000 for Community Foodbanks
    RiverStone cares not only about its associates, but also about the communities that it is a part of. The company gives back to those communities throughout the year and encourages associates to do the same. However, once a year, RiverStone dedicates a full Spirit Week to raise money for foodbanks in the three communities that it calls home: Manchester, NH, San Diego, CA and Atlanta, GA. The theme for 2018’s event was Survivor. Three teams were formed to foster friendly competition with activities held throughout the week that promoted teamwork, creativity and fun to see which team could Outwit, Outplay and Outlast the others. Gauntlets were thrown, challenges were made and team-colored buffs were worn with pride. There was something for everyone, including daily outfit competitions (polka dots and stripes oh my!), lunch time School Yard games (hopscotch, penny tossing and Four Square), trivia (did you know that Mario was originally called “Jumpman”?) and an intense Lip Sync battle featuring a surprise appearance by ZZ Top (made up of our enthusiastic Executive Leadership team). RiverStone successfully achieved 100% associate participation in the event and the week culminated with a fierce competition of Human Hungry Hungry Hippos featuring members of our fearless management team. While a lot of fun was had, the most amazing outcome was seeing the tremendous generosity of RiverStone associates. RiverStone matched associate donations 3-to-1 and the total that was raised came to just under $184,000! Considering that the foodbanks can provide multiple meals for every dollar raised, the donation will provide a significant contribution to help those in need.   For more information about the individual foodbanks, please see the links below: New Hampshire: https://www.nhfoodbank.org/ San Diego: https://sandiegofoodbank.org Atlanta: http://www.acfb.org
  • December 4, 2017
    UK Charity update.
    Each year our associates choose a charitable cause local to each of our UK office locations to receive a donation from the Company. For 2017 the charity chosen by our Darlington office is The Great North Air Ambulance who bring pioneering pre-hospital care to hundreds of severely injured or ill patients every year. They have received a corporate donation of £11,000. The charity chosen by our London office is King’s College Hospital. Their corporate donation of £36,000 will help fund their Critical Care Unit. The charity chosen by our Brighton office is RISE who help those across Brighton, Hove and Sussex who have been affected by domestic abuse, giving them practical support to rebuild safer lives. They have received a corporate donation of £92,000. Through associate donations which are triple matched by the Company, in addition to ad hoc corporate donations, we have also raised money for a variety of charities such as the British Heart Foundation, Alzheimer’s Society, Railway Children, Essex & Herts Air Ambulance Trust, National Literacy Trust, Cystic Fibrosis, Mind, Cancer Research UK and YoungMinds Trust. The total raised by associates so far this year is £7,042 and the total matched or donated by RiverStone so far is £160,875.
  • July 29, 2016
    DRI Northeast Regional Claims Conference
    Craig Brown, Deputy General Counsel and Vice President, will be speaking at the second annual DRI Northeast Regional Claims Conference, September 20, 2016, at Hilton Hartford in Hartford, Connecticut. Mr. Brown will be speaking at the conference on September 20 at 2:00 pm in the session titled 'Putting Your Best Foot Forward: How to Prepare the Corporate Witness'. This one-day regional seminar is designed for in-house insurer counsel, claim professionals and their managers, and outside defense counsel in the Northeast who primarily handle insurance coverage matters or property and casualty claims. DRI will host a networking luncheon with moderated table discussions so that you can discuss what matters most to you. The program will be submitted for CE and CLE credit. Looking forward to seeing you in Hartford!