JRVR - James River Granted Motion Ordering Fleming to Complete its Pending Acquisition of JRG Re | Benzinga
PEMBROKE, Bermuda, April 08, 2024 (GLOBE NEWSWIRE) -- James River Group Holdings, Ltd. ("James River" or the "Company") (NASDAQ:JRVR) announced that the Supreme Court, New York County, Commercial Division (the "Court") granted the Company's request for a preliminary injunction against Fleming Intermediate Holdings ("Fleming"), a portfolio company of private equity sponsor Altamont Capital Partners, ordering Fleming to complete its acquisition of JRG Reinsurance Company Ltd. ("JRG Re") on or prior to April 16, 2024.
Frank D'Orazio, the Company's Chief Executive Officer, commented, "We are pleased that the Court has granted James River's request for a preliminary injunction, compelling Fleming to complete the acquisition of JRG Re in accordance with the Stock Purchase Agreement that the parties negotiated together and executed on November 8, 2023. We look forward to finalizing the transaction."
About James River Group Holdings, Ltd.
James River Group Holdings, Ltd. is a Bermuda-based insurance holding company that owns and operates a group of specialty insurance companies. The Company operates in two specialty property-casualty insurance segments: Excess and Surplus Lines and Specialty Admitted Insurance. Each of the Company's regulated U.S. insurance subsidiaries are rated "A-" (Excellent) by A.M. Best Company. Visit James River Group Holdings, Ltd. on the web at www.jrvrgroup.com.
James River Investor Contact:
Brett Shirreffs
SVP, Finance, Investments and Investor Relations
(919) 980-0524
Investors@jrvrgroup.com
James River Media Contact:
Adam Pollack / Kaitlin Kikalo / Michael Reilly
Joele Frank, Wilkinson Brimmer Katcher
+1-212-355-4449
Forward-Looking Statements
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