Legacy reinsurance group RiverStone International has announced leadership changes ahead of the retirement of group CEO Luke Tanzer, who will step down later this year after 16 years in the role.
Paul Brockman (pictured above) has been appointed as group chief executive officer, while Andrew Creed will take on the additional role of group president alongside his current position as group chief financial officer.
Brockman is expected to join RiverStone in January 2026, pending regulatory approval. He comes from Enstar Group, where he most recently held the position of group chief commercial officer.
His previous roles at Enstar include group chief operating officer, group chief claims officer, and CEO of both the US and European businesses. With more than three decades in the legacy sector, Brockman brings experience across the US, London, Bermuda, and international markets.
Creed, who has served as RiverStone’s finance director and CEO of its UK and Lloyd’s operations, has been with the company for more than 12 years. He will continue as CFO while assuming the additional responsibilities of group president.
The board praised Tanzer for his tenure at RiverStone; he led the group from its time under the Fairfax Group through its transition to ownership by CVC-managed funds in 2021. Under his leadership, the business expanded from a UK-focused company into a global player in non-life run-off insurance.
Since 2010, RiverStone has completed 47 transactions, acquiring $17.7 billion in gross liabilities. In 2024, the group reported $300 million in adjusted profit before tax and a 19.1% return on opening adjusted tangible book value.
This year, RiverStone has continued to broaden its market presence through a series of legacy portfolio transactions. Among them, the company completed a reinsurance-to-close (RITC) agreement with Asta Managing Agency, assuming the 2022 underwriting year of account for Hampden Risk Partners Syndicate 2689 into RiverStone International Syndicate 3500.
In a separate transaction, RiverStone entered into a loss portfolio transfer (LPT) and insurance business transfer agreement with Zurich Insurance Europe and the French branch of Zurich Insurance Company. The deal involves French discontinued motor and architects and engineers professional indemnity portfolios.
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