RiverStone has acquired two Cayman-based captives, GMPCI Insurance Company and Seaside Indemnity Alliance Company.
Seaside was formed in 2013 for the purpose of assuming hospital and physician professional liabilities in Connecticut.
GMPCI was formed in 2005 to insure anesthesiologists, certified registered nurse anaesthetists and registered nurses and is primarily based in Massachusetts.
Matt Kunish, chief business development officer of RiverStone, said: “We are very excited to complete our first transactions in the captive space. “We were able to provide a solution as part of a larger transaction. “
He continued: “With over 20 years’ experience in the traditional insurance markets, we look forward to using our expertise in the captive space.”
Kunish added: “In addition to providing insurance risk solutions, we also see an opportunity to use our skills to provide other services to the captive industry, including claim handling services.”