Enstar Group (ESGR) said late Monday one of its subsidiaries signed an adverse development cover, or ADC, reinsurance agreement with certain units of James River Group Holdings (JRVR).
Enstar said its subsidiary agreed to provide $75 million of limit on top of the existing $160 million ADC reinsurance coverage that the James River units secured from State National Insurance earlier this year.
The Enstar Group unit also agreed to invest $12.5 million in James River Group. The transaction remains subject to regulatory approval and other closing conditions.
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