James River Group (JRVR) just unveiled an announcement.
James River Group Holdings has finalized a major reinsurance agreement with State National, transferring significant risk from its Excess & Surplus Lines portfolio. This strategic move, involving 85% reinsurance of losses above $716.6 million, aims to bolster financial stability. Additionally, the company has expanded its board, appointing Christine LaSala as a new director, who will also contribute to the Compensation & Human Capital and Nominating & Corporate Governance Committees, aligning her compensation with that of other non-employee directors. These pivotal steps are part of James River’s ongoing efforts to optimize operations and governance.
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