Hamilton, Bermuda, August 9 2024 – RiverStone International today announced an agreement with QBE to provide a Loss Portfolio Transfer reinsurance (“LPT”) for various QBE subsidiaries, including their Lloyd’s syndicates. This transaction covers a diversified portfolio of business from International and North America markets and includes premiums earned through June 30, 2024.
Pending regulatory approvals and satisfaction of closing conditions, the LPT will be effective July 1, 2024. RiverStone subsidiaries will assume subject reserves of $1.2 billion.
