RiverStone assumes $400 million SiriusPoint legacy portfolio

RiverStone International  has completed a loss portfolio transfer with SiriusPoint, assuming a portfolio of legacy reinsurance liabilities with net liabilities of approximately $400 million.

The transaction is RiverStone’s first with SiriusPoint. Marsh Re served as broker of record.

SiriusPoint CEO Scott Egan said the deal further simplifies the company’s business, strengthens its capital position and closes the chapter on its legacy portfolio.

“We are pleased to be partnering with RiverStone, which has deep expertise in the legacy market,” Egan said.