James River Group appoints Joel Cavaness to board of directors

James River Group Holdings, Ltd. (NASDAQ: JRVR) announced Joel Cavaness has been appointed to the company's board of directors as an independent, non-executive member, effective immediately. Cavaness was also appointed to the board's Compensation and Human Capital Committee.

Cavaness brings nearly four decades of specialty property-and-casualty distribution experience to the role. He most recently served as Chairman, Americas Specialty at Arthur J. Gallagher & Co. Prior to that position, Cavaness was President of Risk Placement Services, Inc., which he co-founded in 1997.

Earlier in his career, Cavaness held leadership roles at Arthur J. Gallagher & Co., advancing to Corporate Vice President and Division President of the Wholesale Brokerage Operation. He began his career as an underwriter with Crum & Forster Insurance Company. Cavaness also served on the Board of Directors of the Wholesale & Specialty Insurance Association for more than a decade.

"Joel is an accomplished executive in the wholesale brokerage space and has successfully built high-performing distribution platforms throughout his career," said Christine LaSala, Chair of James River's Board of Directors. "His entrepreneurial mindset, extensive marketplace relationships, and decades of leadership experience align deeply with James River and will add helpful complementary perspective to our Board."

James River Group Holdings is a Bermuda-based insurance holding company that operates specialty insurance companies in two segments: Excess and Surplus Lines and Specialty Admitted Insurance. The company's regulated insurance subsidiaries are rated "A-" by A.M. Best Company, according to the press release.

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