RiverStone International announced the appointment of Mark Fleiser as managing director of RiverStone International’s Australian operations
LONDON/SYDNEY: RiverStone International today announced the establishment of an Australian operation, marked by the acquisition of a locally domiciled insurer and the appointment of an experienced managing director. Concurrently, RiverStone International also announces a significant legacy portfolio transaction with Zurich Australian Insurance and Zurich Insurance Company (collectively, Zurich).
RiverStone International has acquired RiverStone International Australia PTY LTD, which will support the group’s global legacy offerings in the Australian market.
RiverStone International has also announced the appointment of Mark Fleiser as managing director of RiverStone International’s Australian operations.
Fleiser brings more than 20 years of senior experience in the Australian general insurance market, with additional New Zealand experience. He has held leadership roles across underwriting, portfolio management, governance, reinsurance and claims, and is recognised for building high-performing teams and managing specialty portfolios within strong regulatory and risk frameworks.
Concurrently, RiverStone International has also entered into a legacy portfolio transaction with Zurich, primarily covering Zurich’s Australian legacy professional indemnity, general liability and workers’ compensation portfolios.
The transaction covers policies in run-off for underwriting years 2023 and prior, with total net nominal reserves exceeding AUD 400 million. Liabilities will initially be transferred via a loss portfolio transfer (LPT) reinsurance to RiverStone’s Bermuda company (RiverStone International Bermuda).