Reinsurance News
James River Group
James River starts 2024 with net income growth in Q1
9th May 2024
James River Group Holdings Ltd. has released its financial results for the first quarter of 2024 reporting a net income of $20.9 million and a combined ratio of 95.3%. These results compared to the prior year first quarter’s when the company reported a lower net income, $5.27 million, and a combined ... Read the full article
Fleming acquires JRG Re
17th April 2024
Fleming Insurance Holdings has confirmed its agreement to acquire JRG Reinsurance Company Ltd. from James River Group Holdings, Ltd. at the previously agreed upon terms, after the Supreme Court, New York County, Commercial Division issued an order directing Fleming Intermediate Holdings to complete the transaction. James River announced its ... Read the full article
James River secures Court order for Fleming to complete JRG Re acquisition
8th April 2024
James River Group Holdings has announced that the Supreme Court, New York County, Commercial Division has issued an order directing Fleming Intermediate Holdings to complete its acquisition of JRG Reinsurance Company (JRG Re) by April 16, 2024. The sequence of events leading to this began on November 8, 2023, when Read the full article
Fleming still willing to acquire JRG Re on the right terms: CEO Haller
2nd April 2024
Fleming Insurance Holdings CEO Eric Haller has suggested that while the firm will continue to defend itself against the "meritless lawsuit" recently filed by James River Group Holdings, Fleming remains willing to acquire JRG Re "if James River cures its breaches of the agreement.” If you recall, on the 8th ... Read the full article
James River files suit against Fleming to enforce stock purchase agreement
11th March 2024
James River Group Holdings has filed a complaint in the Supreme Court, New York County, Commercial Division, against Fleming Intermediate Holdings seeking to enforce the terms of a previously agreed stock purchase agreement (SPA) for the sale of its third-party casualty reinsurance business, JRG Re. If you remember, on the ... Read the full article
James River sees $152.7mn net loss in Q4 2023
29th February 2024
James River Group Holdings Ltd. has released its financial results for the fourth quarter of 2023 reporting a net loss of $152.7mn, marked by a net loss stemming from the reclassification of its Casualty Reinsurance segment's results to discontinued operations. The Bermuda domiciled insurance holding company, highlighted that due to the ... Read the full article
James River Group names William Bowman as President & CEO, Specialty Admitted
18th December 2023
James River Group Holdings, Ltd. has named William “Bill” Bowman as the President and Chief Executive Officer (CEO), Specialty Admitted Insurance, reporting to Frank D’Orazio, CEO of the Company. Bowman joined the Company in 2019 as Senior Vice President, Program Management. He led the program and fronting business within the Specialty ... Read the full article
James River to explore strategic alternatives
10th November 2023
After reaching an agreement to sell its third-party casualty reinsurance business to Fleming earlier this week, the Board of James River Group Holdings, Ltd. has decided to "explore a range of potential strategic alternatives", including a potential sale or merger. On Wednesday, James River announced its exit from the reinsurance space ... Read the full article
James River posts $16.9m net income in Q3
8th November 2023
Bermuda domiciled insurance holding company, James River Group Holdings Ltd., has posted a net income of $16.9 million for third quarter of 2023, compared to net loss of $7.2 million for the third quarter of 2022. Adjusted net operating income for the quarter sat at $18.3 million, compared to adjusted net ... Read the full article
James River to exit reinsurance with sale of JRG Re to Fleming
8th November 2023
James River Group Holdings, Ltd. has announced it is to sell JRG Reinsurance Company (JRG Re), its third-party casualty reinsurance business, to Fleming Intermediate Holdings, for an estimated $277 million. The transaction value is inclusive of a $139 million pre closing dividend and a $138 million cash payment from Fleming at close. Fleming ... Read the full article
James River agrees to sell IRWC renewal rights to Amynta Group
26th September 2023
James River Group Holdings has announced that certain of its subsidiaries have entered into an agreement to sell the renewal rights to their Individual Risk Workers’ Compensation (IRWC) business to Amynta Group. The transaction includes the full operations of the business, including underwriting, loss control and claims, and the transfer of ... Read the full article
James River posts $427m GWP, while net income soars in Q2 results
8th August 2023
James River, a Bermuda-based insurance holding company has reported a gross written premium (GWP) of $427.7 million for the second quarter of 2023, a 7% rise from last year's $399.7 million. GWP for the firm's Specialty Admitted Insurance segment increased 9.6% from the prior year quarter, which included a 11.0% increase ... Read the full article
James River Non-Exec Chairman Abram to retire
9th June 2023
James River, a Bermuda-based insurance holding company, has announced the retirement of Non-Executive Chairman, founder and former Chief Executive Officer J. Adam Abram According to the announcement, Abram will not stand for re-election at the Company’s 2023 Annual Meeting. The Board has appointed Lead Independent Director Ollie L. Sherman, Jr. as its ... Read the full article
James River reports $7m net income in Q1 2023
3rd May 2023
Bermuda domiciled insurance holding company, James River Group Holdings Ltd., has reported a total net income of $7.0 million for the first quarter of 2023, and a combined ratio of 94.9% This year’s Q1 net income was a lower figure compared to the $9.3 million reported in the same period last ... Read the full article
James River adds Dennis J. Langwell to Board of Directors
11th April 2023
Bermuda domiciled insurance holding company, James River Group Holdings Ltd., has announced that Dennis J. Langwell has been appointed to the company’s Board of Directors as an independent, non-executive member, effective immediately. The company confirmed that Langwell has been appointed to the Audit Committee of the Board. Following this appointment, James River’s ... Read the full article
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