OLDWICK, N.J.–(BUSINESS WIRE)–#insurance—AM Best has commented that the Credit Rating (ratings) of James River Group Holdings, Ltd. (JRG Holdings) [NASDAQ: JRVR] (Bermuda) and its subsidiaries remain unchanged at this time following the announcement that its board of directors will explore strategic business alternatives. As part of this process, the board stated that it will consider a wide range of options including, among other things, a potential sale, merger or other strategic action.
AM Best plans to conclude the analysis of JRG Holdings’ ratings this month and will consider the group’s recent announcement that it has entered into a stock purchase agreement to sell JRG Reinsurance Company Ltd., as well as the error in accounting for reinstatement premium in the company’s previously issued results through June 30, 2023. Accordingly, AM Best is aware that the second quarter 10Q/A and the third quarter 10Q results are expected to be filed later this week.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Contacts
Gordon McLean
Senior Financial Analyst
+1 908 882 2109
[email protected]
Edin Imsirovic
Director
+1 908 882 1903
[email protected]
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
[email protected]
Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
[email protected]
