RiverStone International has acquired Catalina Insurance Ireland.
RiverStone International is an acquirer and reinsurer of legacy and discontinued insurance business. It operates in Lloyd’s of London markets, Bermuda and Europe.
Catalina Insurance Ireland is a Dublin-headquartered insurance company, which was previously owned by the Catalina group.
It has two main portfolios: a German med-mal book and a UK motor portfolio. Riverstone says total reserves were approximately US$350m at the time of evaluation.
Luke Tanzer, CEO of RiverStone International, comments: “This acquisition demonstrates our commitment to delivering on our geographical expansion strategy, and in particular our objective to continue to grow our capabilities within the European market”.
