By Michael Jones
March 21 - (The Insurer) - Lloyd's legacy specialist RiverStone International has signed an agreement with Lyft captive Pacific Valley Insurance Company to provide loss portfolio transfer reinsurance $(LPT)$ for a commercial auto liability portfolio.
The transaction was effective from 1 January 2025 and saw Guy Carpenter act as the broker of record.
RiverStone said this was the first transaction completed directly within its U.S. entity.
The Lloyd's legacy player completed the acquisition of Electric Insurance Company and its two subsidiaries, Elm Insurance Company and Electric Insurance Agency, in June 2024.
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