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August 15, 2017

Willkie represented Morgan Stanley & Co. LLC, the underwriter on the transaction, which is valued at approximately $167.5 million.

On June 5, James River Group Holdings, Ltd. announced the closing of an underwritten secondary public offering of the company’s common shares by certain of the company’s significant shareholders. The selling shareholders sold 4,250,000 common shares for total net proceeds of $167,492,500. The selling shareholders received all of the net proceeds from the offering. Willkie represented Morgan Stanley & Co. LLC, the underwriter on the transaction.

James River Group Holdings, Ltd., headquartered in Bermuda, is a specialty insurer backed by D.E. Shaw & Co. James River provides insurance and reinsurance for small- and medium-sized businesses in the specialty insurance markets, generating a majority of its revenue from excess and surplus lines, or coverage that is not licensed by a state. The offering was composed entirely of secondary shares sold by the selling shareholders.

The deal was led by partner Michael Groll, and included associates Vanida Narrainen and Justin Sommerkamp. Counsel Martin Miller provided assistance on FINRA matters and partner Arthur Lynch advised on tax matters.