Press Release

James River Group Holdings, Ltd. Prices Initial Public Offering


HAMILTON, Bermuda, Dec. 11, 2014 (GLOBE NEWSWIRE) -- James River Group Holdings, Ltd. (the "Company") announced today that it had priced its initial public offering of 11,000,000 common shares at $21.00 per share. The shares are expected to begin trading tomorrow, December 12th, on the Nasdaq Global Select Market under the ticker symbol "JRVR." All of the common shares are being sold by certain significant shareholders of the Company, and the Company will not receive any proceeds from the offering. The underwriters have a 30-day option to purchase up to an additional 1,650,000 common shares from the selling shareholders. The offering is expected to close on or about December 17, 2014, subject to customary closing conditions.

The book-running managers for the offering are Keefe, Bruyette & Woods, Inc., UBS Securities LLC, FBR Capital Markets & Co. and BMO Capital Markets Corp.  KeyBanc Capital Markets Inc., SunTrust Robinson Humphrey, Inc. and Scotia Capital (USA) Inc. are acting as co-managers for the offering. 

A registration statement relating to these securities has been filed with and declared effective on December 11, 2014 by the Securities and Exchange Commission. The offering will be made only by means of a prospectus. A copy of the final prospectus related to the offering will be filed with the Securities and Exchange Commission, and may be obtained, when available, from the prospectus departments of Keefe, Bruyette & Woods, Inc., Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019, telephone (800) 966-1559, UBS Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, telephone (888) 827-7275, FBR Capital Markets & Co., Attention: FBR Prospectus Department, 1300 17th Street N., Suite 1400, Arlington, VA 22209, telephone (703) 312-9726 or by email to, and BMO Capital Markets Corp., 3 Times Square, 27th Floor, New York, NY 10036, Attention: Equity Syndicate Department, telephone (800) 414-3627 or by email to

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. 

Forward-Looking Statements

This press release includes "forward-looking statements," within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

About the Company

James River Group Holdings, Ltd. is a Bermuda-based insurance holding company whose subsidiaries specialize in underwriting specialty insurance and reinsurance.

CONTACT: James River Group Holdings, Ltd.Bob Myron
         President and Chief Operating Officer
James River Group Holdings, Ltd.