Riverstone International signs RITC contract for HRP Syndicate 2689’s 2022 year of account

LONDON: 17 February 2025 – 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 support Hampden Risk Partners in this transaction to allow them to focus on their go-forward business.”

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About RiverStone International 

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, Bermuda, U.S. and Europe, RiverStone International has transacted a wide variety of deals – from insurance and reinsurance portfolio transfers to company purchases, acquiring more than US$17.3billion of liabilities since 2010 and with around US$6.9billion of total liabilities. RiverStone International’s highly skilled and tenured professionals employ ownership, accountability, commitment, and an open and flexible approach to all transactions to provide transactional certainty, deliver desired outcomes and maintain clients’ reputations. For further information about RiverStone International please visit: www.rsml.co.uk 

Riverstone International media contacts:

Haggie Partners
Damian Beeley and Bec Seaton
Tel: +44 (0)207 562 4444
Damian.Beeley@haggie.co.uk
Bec.Seaton@haggie.co.uk