RiverStone International, an acquirer and reinsurer of global legacy and discontinued insurance businesses, has signed a second loss portfolio transfer (LPT) reinsurance agreement with Pacific Valley Insurance Company.
Pacific Valley is a wholly owned captive subsidiary of ride-sharing company Lyft.
In March 2025, RiverStone secured its first LPT with a captive insurance company covering a commercial auto liability portfolio.
Effective July 1, 2026, this year’s repeat transaction builds on the strong and ongoing relationship between the two companies.
Paul Brockman, Group CEO of RiverStone International, commented: “We are pleased to have the opportunity to partner with Pacific Valley Insurance Company and Lyft again on this transaction. This repeat transaction reflects the depth of the relationship between our organizations and demonstrates the value of long-term partnerships in traditional markets.”
“We are pleased to continue supporting Lyft’s risk management and capital optimization goals and look forward to further growing our relationship in the coming years. This transaction further strengthens our presence in North America and reinforces our commitment to providing innovative legacy solutions to customers in the region.”
Like last year, Marsh Group reinsurance broker Guy Carpenter was the record broker.
For details on this legacy transaction and many others, please see our catalog of legacy and runoff reinsurance transactions.
