James River Announces Appointment of Group Chief Actuary

Rhea-AI Summary

James River Group Holdings, Ltd. (NASDAQ: JRVR) announced the appointment of David Gelinne as Group Chief Actuary, effective in Q3 2021. Gelinne brings over 40 years of actuarial experience, including his previous role as Chief Actuary at Allied World Assurance Company. He will oversee the actuarial function and report to CEO Frank D’Orazio. This change comes as current Chief Actuary Jennifer Kish retires at Q3 2021, marking a significant transition for the company amid ongoing growth and focus on risk management.

Positive

• David Gelinne brings over 40 years of actuarial expertise, enhancing the company's risk management.
• The leadership transition may provide fresh perspectives and strategic initiatives for growth.

Negative

• Jennifer Kish's retirement may raise concerns about continuity and experience in the actuarial function.

PEMBROKE, Bermuda, Aug. 02, 2021 (GLOBE NEWSWIRE) -- James River Group Holdings, Ltd. (“James River” or the “Company”) (NASDAQ: JRVR) today announced that David Gelinne has been appointed Group Chief Actuary, to be effective during the third quarter of 2021. He will join the Company on August 2, 2021. Current Group Chief Actuary Jennifer Kish has announced her intention to retire at the end of the third quarter of 2021.

Mr. Gelinne’s actuarial career spans over 40 years with a deep and broad focus on non-life casualty risks. Most recently, he served as Chief Actuary at Allied World Assurance Company, AG, and prior to that, as Chief Actuary of that company’s North American segment. Prior to his five years at Allied World, Mr. Gelinne spent over 30 years at AIG in roles of increasing seniority within the actuarial group. At James River, he will report into Chief Executive Officer Frank D’Orazio and be responsible for overseeing the actuarial function across the Group.

Mr. Gelinne commented, “I am thrilled to join James River at this phase in its development and growth. I am looking forward to working closely with my new colleagues to help drive the Group’s initiatives ahead in the coming years.”

Mr. D’Orazio commented, “It is very exciting to welcome Dave to James River. With over four decades of deep actuarial expertise, he is the right person to support our actuarial function at a key time of ongoing focus on risk management. I am looking forward to working with him again.”

D’Orazio added, “I would like to thank our current Chief Actuary, Jennifer Kish, for her years of dedicated service to the organization. She has been a great resource to me, and I speak for the entire James River Group in wishing her the best in her retirement.”

Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding the intent, belief or current expectations of James River and its management team, and may be identified by terms such as believe, expect, seek, may, will, intend, project, anticipate, plan, estimate or similar words. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important information regarding such risks and uncertainties can be found in our filings with the U.S. Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on February 26, 2021 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2021 filed with the SEC on May 5, 2021. These forward-looking statements speak only as of the date of this release and the Company does 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 James River Group Holdings, Ltd. 
James River Group Holdings, Ltd. is a Bermuda-based insurance holding company which 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. Each of the Company’s regulated insurance subsidiaries are rated “A-” (Excellent) by A.M. Best Company. Visit James River Group Holdings, Ltd. on the web at www.jrgh.net.

FAQ

Who is the new Group Chief Actuary of James River Group Holdings (JRVR)?

David Gelinne has been appointed as the new Group Chief Actuary, effective during Q3 2021.

What is the reason for the management change at James River Group (JRVR)?

The change is due to the retirement of current Chief Actuary Jennifer Kish at the end of Q3 2021.

What experience does David Gelinne bring to James River Group (JRVR)?

Gelinne has over 40 years of experience in actuarial roles, including Chief Actuary at Allied World Assurance Company.

How might the management change affect James River Group Holdings (JRVR)?

The appointment of David Gelinne is expected to strengthen the actuarial function, aligning with the company's growth and risk management goals.