05 Nov, 2026
RiverStone International signs legacy transaction with Clear Spring
Hamilton, Bermuda 5 November 2026 — RiverStone International today announced that it has entered into a loss portfolio transfer with Clear Spring Property and Casualty Company covering discontinued US workers’ compensation business from accident years 2018–2025.
The transaction is intended to provide Clear Spring with operational and economic finality for the discontinued portfolio, with RiverStone assuming claims control and oversight of the existing third-party administrators. It covers approximately US$325 million net reserves.
Paul Brockman, Group CEO – RiverStone International, said:
“This transaction reflects RiverStone’s disciplined approach to acquiring legacy portfolios where our specialist claims capabilities can create value for all stakeholders. The portfolio is well aligned with our extensive experience in US workers’ compensation, and we look forward to working closely with Clear Spring and its claims partners to ensure an orderly transition.”
Jim Purvis, Clear Spring’s CEO, said:
“This agreement represents an important step in our strategy to focus resources on our core markets. RiverStone’s specialist experience and established operating model make it a strong partner for the responsible long-term management of this portfolio.”
Gallagher Re acted as sole advisor and broker on the transaction.
The transaction remains subject to customary closing conditions and applicable regulatory approvals.
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