RiverStone International announces loss portfolio transfer deal with Pacific Valley Insurance Company

Beverly, Massachusetts, 20 March 2025

RiverStone International today announced that it has signed an agreement with Pacific Valley Insurance Company, a wholly owned subsidiary of Lyft, to provide a loss portfolio transfer reinsurance (LPT) for a commercial auto liability (CAL) portfolio effective from 1 January 2025.

Nick Schulson, CEO of RiverStone International Insurance, said: “We are thrilled to partner with Pacific Valley Insurance Company to complete our first transaction directly within RiverStone International’s recently-acquired US entity. We appreciate the opportunity to work on this loss portfolio transfer and recognise Lyft’s commitment to effective risk management. This loss portfolio transfer reinsurance marks a strong step in our commitment to expanding our presence in the US market, leveraging our robust platform and operations to deliver a tailored and effective solution for our client. RiverStone International is delighted to strengthen relationships and grow our scale in North America, and we welcome the opportunity to provide professional legacy solutions to markets in this region.”

Guy Carpenter was the broker of record.

Ends

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