Norton Rose Fulbright’s insurance transactions team advises RiverStone Group in connection with agreement to acquire North America and Bermuda business of DARAG Group

A Norton Rose Fulbright insurance transactions team recently advised client RiverStone Group, a subsidiary of Fairfax Financial Holdings Ltd., in connection with its agreement to buy the North American and Bermuda business entities of DARAG Group, a Malta-based legacy insurance group. The transaction, which is subject to regulatory approvals, is expected to close by year end. This acquisition builds on RiverStone's success in the legacy and captive insurance markets and significantly boosts RiverStone's market visibility in several North America insurance segments.

The RiverStone Group is a group of insurance, reinsurance and service companies specializing in the management of legacy and run-off insurance businesses and portfolios, and an industry leader in claims resolution, reinsurance recovery and dispute resolution.

Norton Rose Fulbright's deal team was led by Kevin Fischer and Michael Schwartz (St. Louis), and also included Dylan Fehl, Bruce Baty, Adam Braun (St. Louis), Jared Kaplan (Chicago), Todd Schroeder (Dallas), Mike Stimson, Eli Gaylor (Austin), Carolyn Webb (Houston) and Charlene McHugh (New York).