RiverStone expands into Australia with acquisition and Zurich legacy deal

RiverStone International  is entering the Australian market through the acquisition of a locally domiciled insurer and the launch of a new operating entity, RiverStone International Australia PTY LTD.

The company also appointed Mark Fleiser as managing director of its Australian operations. Fleiser brings more than two decades of experience across underwriting, reinsurance, governance, and claims in Australia and New Zealand.

Alongside the market entry, RiverStone completed a legacy portfolio transaction with Zurich Insurance Group, covering Australian professional indemnity, general liability, and workers’ compensation business in run-off for underwriting years 2023 and prior.

The portfolio carries net nominal reserves exceeding AUD 400 million. Liabilities will initially transfer through a loss portfolio transfer reinsurance agreement to RiverStone’s Bermuda entity.

The move expands RiverStone’s global legacy footprint while providing Zurich with capacity to focus on its ongoing Australian insurance operations.