James River Announces Director Appointment

Rhea-AI Summary

James River Group Holdings (NASDAQ: JRVR) has appointed Dennis J. Langwell as an independent, non-executive member of its Board of Directors, increasing the board size from 9 to 10 members. Langwell brings a wealth of experience from his former role as Vice Chairman of Insurance Operations at Liberty Mutual, where he served in various leadership positions for over two decades. His extensive expertise in insurance operations and finance is seen as a significant asset to the company. The appointment is expected to enhance the Board’s capabilities and support the company's ongoing strategic initiatives aimed at generating positive momentum for shareholders.

Positive

• Appointment of Dennis J. Langwell increases Board expertise.
• Langwell's extensive experience in insurance operations may strengthen strategic direction.

Negative

• None.

PEMBROKE, Bermuda, April 06, 2023 (GLOBE NEWSWIRE) -- James River Group Holdings, Ltd. (“James River” or the “Company”) (NASDAQ: JRVR) today announced that Dennis J. Langwell has been appointed to the Company’s Board of Directors (the “Board”) as an independent, non-executive member, effective immediately. With the appointment of Mr. Langwell, the Board increased its size from 9 to 10 directors. Mr. Langwell was appointed to the Audit Committee of the Board.

“We are very pleased to welcome Dennis to our Board,” said Frank D’Orazio, the Company’s Chief Executive Officer. “Dennis brings extensive insurance expertise and leadership acumen to the Board, having held several executive positions in insurance operations and finance throughout his long and distinguished career. I look forward to working closely with Dennis to continue to generate positive momentum for the Company and our shareholders.”

Mr. Langwell retired in 2021 having most recently served as Vice Chairman of Insurance Operations for Liberty Mutual Insurance (“Liberty Mutual”). Mr. Langwell joined Liberty Mutual in 1997 and served in various leadership roles during his tenure, including as President – Global Risk Solutions from 2018 to 2021 and as Executive Vice President and Chief Financial Officer from 2003 to 2018. He previously worked in finance and reporting roles for Liberty Mutual and other insurance companies and began his career at KPMG (Peat Marwick). Mr. Langwell also serves as a member of the Board of Trustees at Providence College and the USS Constitution Museum. Mr. Langwell received a Bachelor of Science degree (magna cum laude) in Accounting from Providence College.

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, should, 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. Additional information about these risks and uncertainties, as well as others that may cause actual results to differ materially from those in the forward-looking statements, is contained in our filings with the U.S. Securities and Exchange Commission (“SEC”), including our most recently filed Annual Report on Form 10-K and our other documents on file with the SEC. 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.jrvrgroup.com.

For more information contact:

Brett Shirreffs
SVP, Finance, Investments and Investor Relations
(919) 980-0524
InvestorRelations@jrgh.net

FAQ

What is the significance of Dennis J. Langwell joining the Board of James River Group Holdings?

Dennis J. Langwell's appointment is expected to enhance the Board's expertise in insurance operations, which can positively influence the company's strategic decisions.

How does the appointment of Dennis J. Langwell affect James River Group Holdings' Board composition?

The Board increased from 9 to 10 members with Langwell's appointment, adding depth to its leadership.

What experience does Dennis J. Langwell bring to James River Group Holdings?

Langwell has extensive experience in insurance operations and finance, previously serving as Vice Chairman of Insurance Operations at Liberty Mutual.

What is the stock symbol for James River Group Holdings?

The stock symbol for James River Group Holdings is JRVR.

When was Dennis J. Langwell appointed to James River Group Holdings' Board?

Dennis J. Langwell was appointed to the Board effective immediately on April 6, 2023.