RiverStone International Partners with Pacific Valley Insurance Company for LPT Agreement

Legacy reinsurance and run-off expert, RiverStone International, has unveiled a significant loss portfolio transfer (LPT) agreement with Pacific Valley Insurance Company, a subsidiary of the ride-sharing giant, Lyft. This strategic initiative encompasses a commercial auto liability (CAL) portfolio and is set to take effect on January 1, 2025. The brokerage firm Guy Carpenter facilitated this transaction.

Nick Schulson, the CEO of RiverStone International Insurance, expressed enthusiasm about the collaboration: “We are elated to partner with Pacific Valley Insurance Company, marking our inaugural transaction directly within RiverStone International’s recently-acquired US entity.” Schulson acknowledged Lyft’s dedication to robust risk management, highlighting the opportunity this partnership represents.

Furthermore, Schulson underscored the company’s unwavering commitment to expanding its footprint in the US market. He elaborated: “This loss portfolio transfer reinsurance signifies a pivotal step in our mission to enhance our presence in the US market. We leverage our comprehensive platform and operations to deliver a bespoke and effective solution for our client.”

RiverStone International is keen on fortifying relationships and expanding their scale in North America. Schulson concluded, “We warmly invite the opportunity to provide our professional legacy solutions to markets within this region, further solidifying our growth trajectory.”