James River announces exploration of strategic alternatives

James River Insurance announced that its board of directors has initiated an exploration of strategic alternatives. As part of this process, the board will consider a wide range of options for the company including, among other things, a potential sale, merger or other strategic transaction.

James River has not set a timetable for completion of this process, and it does not intend to disclose further developments unless and until it determines that further disclosure is appropriate or necessary.

“Over the past three years, James River’s executive leadership team and board of directors have taken decisive actions to focus resources on core businesses where we have meaningful scale, de-risk the organization, reduce volatility and meaningfully strengthen the balance sheet. The board now believes it is appropriate to explore a range of potential strategic alternatives to maximize shareholder value.” – Ollie Sherman, chairman of the board of directors.