James River

Sources said that the Citi and Ardea-run sale process is being angled to potential strategic buyers in its initial stages.

The actions follow James River’s recent announcement that it has identified a material weakness in its internal control over financial reporting and will sell JRG Re.

The suspension of Global Indemnity’s effort to sell its E&S arm is likely specific to the franchise rather than an indicator of a dealmaking slowdown.

The executive joined the firm in 2019 as senior vice president of program management and has since led the program and fronting business within the specialty admitted insurance segment.

James River’s potential sale could be an opportunity for an investor looking to tap the E&S market, but reserving noise means making a deal might not be easy.

Insurance Insider US’s morning summary of the key stories to get you up to speed fast.

A quick roundup of this week’s biggest stories.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Trading at just 0.6x book, the firm is a cheap option for an insurer which is looking to enter E&S, or is underweight in the sector.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Two days ago, the company announced the sale of its casualty reinsurance subsidiary to Fleming for $277mn.

James River’s stock price plummeted more than 30% on Thursday, after the firm sustained downgrades from equity analysts over concerns around the insurer’s E&S casualty reserves.