RiverStone International, an acquirer and reinsurer of legacy and discontinued insurance business, has announced that it has struck a deal with MS Amlin Underwriting Limited to undertake a split reinsurance-to-close transaction of its UK property and casualty portfolio for the 2019 and prior years of account of MS Amlin’s syndicate 2001.
In addition, the companies have agreed a 100% quota share arrangement in respect of the 2020 year of account for the same lines of business.
Andy Creed, CFO of RiverStone International, said: “We are delighted that MS Amlin has chosen RiverStone to help deliver its strategic aims. This signing further reinforces our competitive edge and the trust that key players in the market have in us. We will ensure that MS Amlin’s excellent reputation is maintained, and their insureds continue to receive the highest possible level of service.”
Phil Green, CFO of MS Amlin Underwriting, added: “This arrangement with RiverStone International helps us along our journey of transformation, by providing greater operational and financial simplicity for our business.”
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