Pembroke, Bermuda, December 15, 2022 – RiverStone International today announced that it has entered into loss portfolio transfer (“LPT”) reinsurance agreements with affiliates of AXIS Capital Holdings Limited (“AXIS Capital” or “AXIS” or “the Company”) (NYSE: AXS), which cover several of its professional lines and liability insurance portfolios, predominantly relating to 2019 and prior accident years.
The transaction, subject to regulatory approval, covers net reserves for losses and loss expenses of approximately $400 million and provides ground-up cover to a policy limit of $605 million.
