James River To Sell Casualty Reinsurance Business To Fleming Holdings

(RTTNews) - James River Group Holdings Ltd. (JRVR) agreed to sell its third-party casualty reinsurance business, JRG Reinsurance Company, Ltd., to Fleming Intermediate Holdings. The total estimated transaction value is $277 million, inclusive of a $139 million pre closing dividend and a $138 million cash payment from Fleming at close.

The transaction includes the full insurance entity supporting the company's Casualty Reinsurance segment, including the remaining assets and liabilities, as well as the staff supporting the business.

The transaction is expected to close during the first quarter of 2024.