Axa confirms £600mn RiverStone legacy deal

Axa has begun the transfer of £600mn ($775mn) of UK disease
liabilities to run-off specialist RiverStone.
In a statement, Axa said its UK, Channel Islands and Isle of Man
employers' liability (EL) and public liability policies issued
by Axa prior to 1 January 2002 will transfer to RiverStone via Part
VII transfer.
Meanwhile, all disease claims related to policies issued between
the same date and 31 December 2014 will be reinsured by
RiverStone.
Axa said it had started to transfer...