RiverStone
250 Commercial Street
Suite 5000
Manchester
NH 03101
USA
Contact
Matt Kunish, Chief Business Development Officer
(603) 656-2572
matt_kunish@trg.com
www.trg.com
In the news
RiverStone is a group of insurance, reinsurance, and service companies that operates as part of the insurance and reinsurance operations of Fairfax Financial Holdings Limited. We specialize in acquiring and managing non-core commercial and captive insurance liabilities. In addition to the financial backing of our parent company, our in-house team brings deep knowledge and expertise to all areas of the business from finance, to legal to actuarial to claims administration. This unique blend of in-house expertise and financial stability enables RiverStone to deliver fresh ideas and tailored solutions that generate positive business outcomes for its clients.
As of year-end 2021, RiverStone maintains $2.8B in assets and manages over $2.3B in gross liabilities. Fairfax also had a very successful 2021, earning a record $3.4B in revenue, increasing its book value per share by over 34%, growing gross premiums by over 25% to almost $24B,and recording $86.6B of assets and $16.4B in equity.
In the last four years, we have expanded our service-based business model to the alternative risk market, offering run-off solutions commonplace in the legacy market to captive owners and risk retention groups. In 2022, we acquired an onshore domiciled single-parent captive in the hospitality industry after the core business was sold and no longer needed the captive. In 2019, we acquired two Cayman-domiciled captives to enable the business to move forward with more significant transactions.
By understanding each owner’s needs, we can offer solutions that free up capital from redundant or needless captives. For example, we provided stock purchase as the best solution in the abovementioned acquisitions. As we have done for over 20 years, we work with clients to offer custom solutions depending on each unique situation.
RiverStone’s team of highly skilled professionals enables the organization to provide tailored exit solutions while effectively managing the acquired liabilities. Our team of 350 employees is based in four offices and remote locations worldwide. We support all major property & casualty insurance and reinsurance lines, and loss types including, but not limited to:
• Employer/professional liability
• Medical malpractice
• Workers’ compensation
• Commercial and personal auto
• Asbestos, pollution and health hazard
• General liability.
With this specialized knowledge and experience in areas such as actuarial, claims management, data science, finance and litigation, RiverStone can effectively manage a wide range of run-off transactions.
In Q4 2021, we completed a loss portfolio transfer with adverse development cover with our sister company, Crum & Forster. Transactions with affiliates in the Fairfax family are a unique strategy to capitalize on the “float” and generate revenue for Fairfax while strengthening the financial standing of our companies.
With the acquisition of Rockville Risk Management and E.R. Quinn Company (collectively, “Rockville”) in 2019 and Arya Claims Services in 2020, we added specialized industry knowledge and greater portfolio diversity in areas such as marine and cyber security. Our growing capabilities and customer base continue solidifying our full-service run-off provider stake in the alternative risk market.
Our reputation was built on how we conduct business: partnering with our clients and owning their challenges and opportunities as if they’re our own. These strengths have grown our business into all areas of the risk management market. The captive industry recognizes that RiverStone has a seat at the table – and we look forward to building our relationships and impacting the industry for years to come.
