Hamilton, Bermuda, November 08, 2023-(BUSINESS WIRE)– Fleming Insurance Holdings (“Fleming”), a global provider of capital solutions to P&C insurers, has announced that JRG Reinsurance Company Ltd. (“JRG Re”) announced today that it has entered into an agreement to acquire This acquisition from James River Group Holdings, Ltd. is a transformational transaction that adds complementary infrastructure, a strong balance sheet and capital base, experienced insurance professionals and valuable cedant relationships to Fleming’s growth plan.
Fleming is a leader in the reinsurance market, with particular expertise in termination and legacy reserve transactions and focuses primarily on non-risky liabilities. Fleming is integrating the mechanics of traditional and backward insurance markets by introducing innovative solutions to the industry. In particular, its proprietary PlannedLPT™ solution enables clients to reinvest capital into the company at known timing and pricing, recurring for each underwriting year. JRG Re, as a specialty reinsurance underwriter, will strengthen Fleming by bringing a strong balance sheet with new potential client relationships. JRG Re’s current sedans can tap into Fleming’s suite of innovative capital and insurance solutions.
“This strategic transaction marks a milestone in our journey, setting us up for further success and growth. We aim to integrate this transaction into our operations to enhance our capabilities, ultimately delivering greater value to our customers and other stakeholders,” he said. Fleming CEO Eric Haller. “This strategic move demonstrates our commitment to growth, innovation and serving our customers to the best of our ability. We recognize the great potential of combined teams and are excited to leverage these strengths to drive future success. We also like to thank the team at James River for their professionalism and dedication throughout this process.”
“We were attracted to JRG Re’s diverse business lines and the close alignment of their interests with Fleming’s,” said Dan Linden, Fleming’s head of M&A. The JRG Re team will be fully integrated into our operations and the Fleming and JRG Re teams will work closely together as one integrated organization to leverage this. Important opportunities Fleming sees in the reinsurance market.
The closing of the transaction is subject to customary regulatory approvals. Fleming was advised by RBC Capital Markets LLC as financial advisor and Sidley Austin LLP as legal counsel on the transaction.
About Fleming Insurance Holdings
Fleming Insurance Holdings is a provider of P&C insurance capital solutions. Fleming has built a track record of providing complete reinsurance structuring and end-to-end solutions for legacy liabilities, as well as liquidity and risk transfer options to the middle market insurance industry. Fleming and his management team have extensive experience working on capital strategy for insurance companies in the US, Bermuda, Cayman, UK and EU. www.flemingih.com
About JRG Reinsurance Company Ltd.
JRG Reinsurance Company Ltd. It is a Bermuda-based reinsurance company with a special focus on property and casualty reinsurance. Their target customers include small to medium-sized specialty companies, specialty categories of large companies, and regional service providers with defined competitive advantages and consistent results.
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