Legacy Specialist RiverStone Enters ILS Market; Completes QBE Loss Portfolio Transfers

RiverStone International, the Bermuda-based legacy acquisition specialist, announced two major loss portfolio transfer (LPT) reinsurance deals, including its first involving the insurance-linked securities (ILS) market.

The ILS transaction, announced on Oct. 30, involved the reinsurance of portfolios associated with funds managed by Leadenhall Capital Partners (LCP), the London-based investment management group. The second LPT reinsurance deal, also announced on Oct. 30, involves the completion of a number of reinsurance transactions with QBE Insurance Group, first detailed in August 2026.

Discussing the LCP deal, David Rocke, chief executive officer of RiverStone International Bermuda and group head of M&A, said:

“This is an important milestone for RiverStone as our first involvement in the insurance-linked securities market. It demonstrates our ability to provide tailored legacy solutions across a broad range of counterparties and risk structures.”

QBE’s LPT

The QBE transactions, which represent approximately US$1.6 billion of reserves, cover North American middle market and workers’ compensation portfolios and European liability books.

“Completing these transactions demonstrates RiverStone’s ability to deliver complex legacy solutions at scale. Our global platform, expertise and capital enable us to address portfolios across multiple lines and jurisdictions, creating meaningful certainty for our partners,” commented Paul Brockman, group chief executive officer of RiverStone International, in a statement.

“Our relationship with QBE has been built over the years, and these transactions are another strong example of what a successful partnership can deliver,” he added.

Source: RiverStone International

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