The transferred portfolio covers claims that have already occurred, AM Best reported.
RiverStone International completed a $400 million loss portfolio transfer with SiriusPoint, AM Best reported on Nov. 10, 2026.
The transfer reinsures claims that have already occurred rather than exposure to future events, so the $400 million is a book size, not a limit against a defined peril.
For allocators, the due-diligence question is how the transferred claims develop against the reserves.
Reported by the Cat bonds & reinsurance desk from AM Best News. Published . Corrections
The managing general underwriter has not disclosed capacity providers, property lines or premium targets.
Smaller than the January and June 2026 renewals, the expected cut comes as AM Best reports record first-half 144A cat bond issuance of $17.3 billion.
SiriusPoint's loss portfolio transfer is expected to release more than $200 million pending regulatory approval, while Clear Spring's portfolio covers accident years 2018 to 2025.
The Korean insurer adds 40.6% to its holding, with KKR funds and Korea Investment Corporation taking minority positions in the Lloyd's and Bermuda group.
Mariner Re and YF Life Insurance Bermuda were registered as Class E insurers effective Oct. 1 and Oct. 19, respectively.
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