RiverStone International, the leading acquirer of legacy business in the Lloyd’s market, today announced that it has signed a reinsurance to close contract with Asta Managing Agency, under which the 2022 underwriting year of account of Hampden Risk Partners (HRP) Syndicate 2689 will close into Riverstone International Syndicate 3500. The net technical provisions as at Q3 2024 were £62.5m.
Andy Creed, UK CEO and Group CFO said: “We are pleased to have partnered with Asta and Hampden to complete this transaction. RiverStone International remains committed to being the premier acquirer of legacy business in Lloyd’s and we are dedicated to supporting the success of our clients and the wider market in this space.”
Chris Sharp, active underwriter HRP Syndicate 2689, added: “I am delighted that we have been able to work with Riverstone International on this mutually beneficial transaction. The closure of the 2022 underwriting year of account and prior in this manner further reinforces our commitment to our ‘intelligent follow’ model as introduced for the 2023 year of account.”
Kevin Soopen, director, Howden Re Legacy, said: “We are delighted to have supported Hampden Risk Partners in this transaction to allow them to focus on their go-forward business.”