RiverStone Management Limited’s Reinsurance-to-Close Transaction With ArgoGlobal

Slaughter and May advised RiverStone Management Limited on the deal.

The transaction involved RiverStone Management Limited’s reinsurance-to-close transaction (“RITC”) with ArgoGlobal, the Lloyd’s insurer and member of the Argo Group. Effective as of 1 January 2021, RiverStone has undertaken the RITC of ArgoGlobal’s Syndicate 1200 for 2017 and prior years with net technical provisions of £356 million.

In connection with the RITC, RiverStone has outsourced the provision of certain services, including claims handling, to ArgoGobal for a transitional period.

Slaughter and May’s team included Robert Chaplin (Picture), Partner, Edward Steward, Associate, Sam Gregory Associate, Tim Fosh Associate and Lucy Duane, Associate.

Involved fees earner: Robert Chaplin – Slaughter and May; Lucy Duane – Slaughter and May; Tim Fosh – Slaughter and May; Sam Gregory – Slaughter and May; Edward Steward – Slaughter and May;

Law Firms: Slaughter and May;

Clients: RiverStone Management Limited;

Federica Tiefenthaler

Author: Federica Tiefenthaler