James River completes sale of casualty reinsurance business to Fleming

James River announced that Fleming Intermediate Holdings has completed its acquisition of JRG Reinsurance Company at the previously agreed upon terms.

Last week, a court order required Fleming to complete the acquisition after a legal battle between the companies.

“We are pleased to have successfully completed our sale of JRG Re to Fleming in accordance with the Stock Purchase Agreement that the parties negotiated together and executed on November 8, 2023. James River will continue to focus its resources on its core U.S. insurance businesses where we have meaningful scale, including our E&S and fronting businesses.” – Frank D’Orazio, CEO of James River.