James River Group announced that the Supreme Court has ruled on a motion to dismiss the company's amended complaint in the JRG Reinsurance deal case. The court has allowed the direct damages claim to proceed. This decision impacts the ongoing legal proceedings regarding the JRG Reinsurance transaction.

The filing detailed the court's specific ruling concerning the amended complaint. By permitting the direct damages claim to move forward, the Supreme Court has shaped the trajectory of the litigation for James River Group.

James River Group Holdings, Inc. has appointed Rajiv Basu to its Board of Directors as an independent, non-executive member, effective immediately. Mr. Basu will also serve as the chairperson of the Board's Audit Committee. The appointment strengthens the Board's oversight with a director possessing deep insurance industry knowledge and extensive financial and risk management expertise.

Christine LaSala, Chair of James River's Board of Directors, welcomed the new appointment, highlighting Mr. Basu's wealth of experience. She also acknowledged the retirement of Dennis Langwell from the Board, thanking him for his service and valuable contributions to the company.

Mr. Basu brings nearly four decades of experience in accounting, financial reporting, and merger and acquisition transactions. His 40-year career includes specialising in insurance at Deloitte & Touche LLP and its predecessor firms. Most recently, he served as Chief Audit Quality Leader, Southeast Asia, and previously as a Senior Client Services Partner serving audit and advisory clients in the insurance industry.

Currently, Mr. Basu serves as an independent director of Assurant, Inc., where he is a member of the audit and the finance and risk committees. He is a Fellow member of the Institute of Chartered Accountants in England and Wales and a New York certified public accountant.

About James River Group Holdings, Inc.

James River Group Holdings, Inc. is a holding company that owns and operates a group of specialty insurance companies. The company operates in two specialty property-casualty insurance segments: Excess and Surplus Lines and Specialty Admitted Insurance. Each of the company's regulated insurance subsidiaries are rated "A-" (Excellent) by A.M. Best Company.