Clifford Chance

Clifford Chance advises RiverStone International on reinsurance of £1.2 billion run-off portfolio from MS Amlin

Leading international law firm Clifford Chance has advised RiverStone International on its reinsurance of a £1.2 billion run-off portfolio from MS Amlin based on Reinsurance to close (RITC) and Loss Portfolio Transfer reinsurance (LPT) agreements. This is the largest ever third party RITC transaction at Lloyd's. The team was led by partner Ashley Prebble and Director of Insurance James Cashier. They were supported by senior associates Mark Comber and Francesca Baker.

RiverStone International is an industry-leading acquirer and reinsurer of legacy and discontinued insurance business. Operating in the UK company and Lloyd’s of London markets, RiverStone International has transacted a wide variety of deals – from insurance and reinsurance portfolio transfers to company purchases, acquiring over US$11.6 billion of liabilities since 2010 and with around US$4.6 billion of liabilities currently under management.

The Insurance team has been advising on key deals including Lloyd's major expansion of its ground-breaking insurance linked securities platform and Inigo’s US$800 million capital raise and acquisition of StarStone Underwriting Limited.