Reinsurance News
JRG Reinsurance Company
Fleming files lawsuit against James River and executives concerning JRG Re purchase
16th July 2024
Fleming Intermediate Holdings has reportedly filed a lawsuit for securities fraud, common-law fraud, and breach of contract in federal court against James River Group and its CEO and CFO concerning Fleming’s purchase of JRG Re from James River for approximately $300 million. For some background on this story, James River ... 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
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 & Fortitude Re enter into $335m LPT retro agreement
1st March 2022
JRG Reinsurance Company Ltd. (JRG Re), a primary operating subsidiary of James River Group Holdings, Ltd., has entered into a $335 million loss portfolio transfer retrocession agreement with Fortitude Reinsurance Company Ltd. Under the terms of the agreement, Fortitude Re will reinsure the majority of the reserves from the firm's casualty ... Read the full article
James River Group sets up Carolina Re in response to tax reforms
23rd February 2018
James River Group Holdings, Ltd. has announced that effective January 1st, 2018, the firm will restructure its internal quota share to be ceded to Carolina Re Ltd., a newly established Bermuda Class 3A re/insurer. The restructuring steps taken by James River Group is in response to the introduction of the Tax Cuts ... Read the full article
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