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Fleming Insurance Holdings, an insurance company focused on casualty, has acquired JRG Reinsurance Company, Ltd., or JRG Re, the third party casualty reinsurance division of James River Group.
James River said that the sale of the insurance entity supporting the casualty reinsurance operations includes all remaining assets and liabilities plus the employees supporting this business.
James River Group’s casualty reinsurance segment generated gross premiums of $85.2 million in 2022.
As we’ve reported before, Fleming Insurance Holdings, which is backed by investor Altamont Capital Partners, has been building out an insurance-linked securities (ILS) platform focused on the emerging casualty ILS space.
Eric Haller, CEO of Fleming recently told us the company received positive feedback as it worked towards the launch of its Casualty Insurance-Linked Security (ILS) Platform.
Fleming will now acquire a reinsurance entity and a portfolio…