AM Best Comments on Credit Ratings of James River Group Holdings, Ltd. and Its Subsidiaries Following Legacy Reinsurance Agreement with State National Insurance Company, Inc.
11 7월 2024 - 6:46AM
Business Wire
AM Best has commented that the Credit Ratings (ratings)
of James River Group Holdings, Ltd. (JRG Holdings) [NASDAQ: JRVR]
(Bermuda) and its subsidiaries remain unchanged following the
announcement that its two principal operating subsidiaries have
entered into a combined loss portfolio transfer and adverse
development cover reinsurance agreement with State National
Insurance Company, Inc. (State National). The reinsurance agreement
was executed on July 2, 2024, and is effective Jan. 1, 2024.
Under the terms of the agreement, State National will provide
$160.0 million of adverse development reinsurance coverage for JRG
Holdings’ excess and surplus lines segment casualty portfolio for
accident years 2010-2023 (both years inclusive), subject to a 15%
co-participation by the company. The reinsurance structure has no
coverage sublimits, but does exclude exposure to the JRG Holdings’
former large commercial auto book, with the vast majority of that
exposure already subject to a previously executed loss portfolio
transfer. JRG Holdings will retain claims management.
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.
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Gordon McLean Senior Financial Analyst +1 908 882
2109 gordon.mclean@ambest.com
Edin Imsirovic Director +1 908 882 1903
edin.imsirovic@ambest.com
Christopher Sharkey Associate Director, Public
Relations +1 908 882 2310
christopher.sharkey@ambest.com
Al Slavin Senior Public Relations Specialist +1
908 882 2318 al.slavin@ambest.com
James River (NASDAQ:JRVR)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
James River (NASDAQ:JRVR)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
