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James River completes JRG Re sale


James River Group Holdings Ltd. Wednesday said in a statement that it had completed the $277 million sale of JRG Reinsurance Company Ltd. to Fleming Intermediate Holdings, a portfolio company of private-equity sponsor Altamont Capital Management LP, as per order of a New York Court.

James River had on April 6 obtained a order from the court mandating the sale proceed after legal wrangling between the parties over terms of the deal, originally announced in November 2023 .

JRG CEO Frank D’Orazio said in the statement the company would now focus on areas including its excess and surplus and fronting businesses.