James River Holdings closes share offering

Bermuda-based James River Group Holdings has announced the closing of its previously announced underwritten secondary public offering of its common shares by a number of its shareholders.

Approximately 4,250,000 common shares were sold for total net proceeds of $167,492,500. James River Holdings stated that the selling shareholders received all of the net proceeds from this offering and that the company itself did not sell any common shares in this transaction. Morgan Stanley acted as the sole underwriter in the offering.

James River Group Holdings owns and operates a group of specialty insurance and reinsurance companies. The company operates in three specialty property-casualty insurance and reinsurance segments: excess and surplus lines, specialty admitted insurance and casualty reinsurance.