Chapel Hill, N.C.-based James River Group Inc. announced that Franklin Holdings (Bermuda), Ltd., a Bermuda holding company and member of the D. E. Shaw group, has received approval for its acquisition of the company from the State of Ohio Department of Å˽ðÁ«´«Ã½Ó³» and the North Carolina Department of Å˽ðÁ«´«Ã½Ó³». The parties expect to close the transaction on or about Dec 11, 2.007.
James River Group, Inc. is an insurance holding company that primarily owns and manages specialty property/casualty insurance companies. Each of the company’s two insurance company subsidiaries is rated “A-” (Excellent) by A.M. Best Co. Founded in September 2002, the company wrote its first policy in July 2003 and currently underwrites in two specialty areas: excess and surplus lines in 48 states, the United States, Virgin Islands and the District of Columbia; and workers’ compensation, primarily for the residential construction industry in North Carolina and, in 2007, Virginia.
Source: James River Group Inc.
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