Hamilton in £200m reinsurance-to-close deal with RiverStone

RiverStone International, a legacy specialist operating in the UK and Lloyd's of London markets, has completed a  £200 million reinsurance-to-close (RITC) transaction with Bermuda-based  Hamilton Insurance Group.

The transaction involves legacy liabilities of the 2019 and prior years of account of Acappella Syndicate 2014, which is managed by Hamilton Managing Agency, a wholly owned subsidiary of Hamilton.

The RITC, with net technical provisions of over £200 million, received Lloyd’s approval in early February, and became effective from 1 January 2022.

RiverStone International will work with Hamilton to transition the business operations over the coming months.

The transaction was facilitated by Aon’s Reinsurance Solutions Capital Advisory team.

Luke Tanzer (pictured), 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.”

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