RiverStone broadens European reach with acquisition

RiverStone International, a provider of legacy solutions in the Lloyd’s market, has acquired an Irish insurance company as part of its expansion strategy to grow capabilities within the European market.

RiverStone has signed an agreement with members of the Catalina Group to acquire Catalina Insurance Ireland, which is regulated by the Central Bank of Ireland.

Catalina Insurance Ireland has two main portfolios: a German med-mal book and a UK motor portfolio. Total reserves were approximately $350 milion at the time of evaluation.

Luke Tanzer, chief executive officer of RiverStone International, said: “This acquisition demonstrates our commitment to delivering on our geographical expansion strategy, and in particular our objective to continue to grow our capabilities within the European market.”

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