River Re Ltd & Anor, In the Matter Of [2026] EWHC 550 (Ch) (10 February 2026)

River Re Ltd & Anor, In the Matter Of [2026] EWHC 550 (Ch) (10 February 2026)

The court sanctioned the Scheme because all jurisdictional and procedural requirements under Part VII FSMA 2000 were satisfied, the independent expert's reports confirmed no material adverse effect on policyholders or reinsurers, regulatory authorities raised no objections, and the Scheme was fair and properly notified.

Citation
[2026] EWHC 550 (Ch)
Parties
Applicant/transferor: River Re Limited; Applicant/transferee: Riverstone Insurance (UK) Limited
Jurisdiction
England and Wales
Judgment Date
10 February 2026
Procedural Posture
Part VII FSMA 2000 Insurance Business Transfer / Sanction Hearing and Final Order
Outcome
Scheme sanctioned
Legal Topics
Part VII Transfer, Insurance Business Transfer, Court Sanction, Regulatory Approval, Policyholder Protection, Sanctions Compliance
Insurance Law Financial Regulation Company Law Part VII Transfer Insurance Business Transfer Court Sanction Regulatory Approval Policyholder Protection +1 more

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Parties

River Re Limited

Applicant/transferor

Riverstone Insurance (UK) Limited

Applicant/transferee

Procedural Posture

Part VII FSMA 2000 Insurance Business Transfer / Sanction Hearing and Final Order

Legal Issues

  1. 1 Whether the court should sanction the transfer of insurance and reinsurance business from River Re Limited to Riverstone Insurance (UK) Limited under Part VII of the Financial Services and Markets Act 2000
  2. 2 Whether all jurisdictional and procedural requirements under FSMA 2000 have been satisfied
  3. 3 Whether the Scheme adversely affects policyholders or other stakeholders

Ratio Decidendi

The court sanctioned the Scheme because all jurisdictional and procedural requirements under Part VII FSMA 2000 were satisfied, the independent expert's reports confirmed no material adverse effect on policyholders or reinsurers, regulatory authorities raised no objections, and the Scheme was fair and properly notified.

Court Disposition

Scheme sanctioned

Orders

  • The Scheme for the transfer of insurance and reinsurance business from River Re Limited to Riverstone Insurance (UK) Limited is sanctioned under Part VII of the Financial Services and Markets Act 2000.
  • The draft order is approved subject to a minor amendment.