RiverStone International, the largest provider of legacy solutions in the Lloyd’s market, today announces that it has completed the acquisition of Electric Insurance Company (EIC) and its two subsidiaries, Elm Insurance Company and Electric Insurance Agency LLC.
EIC is a Massachusetts-domiciled insurer licensed in all 50 US states, as well as DC, Puerto Rico and Canada. The acquisition provides RiverStone International with the platform and operational capabilities to further North American-based opportunities.
Luke Tanzer, chief executive officer of RiverStone International, said: “The acquisition of EIC represents a significant milestone in our journey to become the leading global legacy provider and reflects our commitment to grow our footprint globally.”