James River Group Holdings, Ltd. announced on April 16, 2024, the ?Company entered into the First Amendment (the KeyBank Amendment) to the Third Amended and Restated Credit Agreement dated as of July 7, 2023 (the KeyBank Facility) by and among the Company, as borrower, KeyBank National Association (KeyBank) as Administrative Agent and Letter of Credit Issuer, KeyBank and Truist Securities Inc. as Joint Book Runners and Joint Lead Arrangers, Truist Bank as Syndication Agent, and the lender parties thereto (the KeyBank Lenders); and the Fourth Amendment (the BMO Amendment) to the Credit Agreement dated as of August 2, 2017, as amended, (the BMO Facility) by and among the Company, as borrower, and BMO Bank N.A., as the lender. Each of the KeyBank Amendment and the BMO Amendment was executed in connection with the closing of the previously announced sale by the Company of all of the common shares of JRG Reinsurance Company Ltd., a former wholly-owned subsidiary of the Company (JRG Re) to Fleming Intermediate Holdings LLC, pursuant to the terms of a Stock Purchase Agreement dated November 8, 2023 (the Stock Purchase Agreement). Pursuant to each of the KeyBank Amendment and the BMO Amendment, KeyBank and the KeyBank Lenders and BMO released JRG Re as a borrower under the KeyBank Facility and the BMO Facility, respectively, and released all collateral pledged by JRG Re under the KeyBank Facility and the BMO Facility, respectively.

In addition, the KeyBank Amendment decreased the Secured Facility Commitment (as defined in the KeyBank Facility) from $102.5 million to $45 million, and the BMO Amendment increased the applicable interest rates, eliminated the letter of credit portion of the facility, and built in an automatic decrease of the Secured Facility Maximum Amount and the Unsecured Facility Maximum Amount (as each such term is defined in the BMO Facility) by the amount of each Letter of Credit (as defined in the BMO Facility) outstanding under the BMO Facility as of the date of the BMO Amendment, with such decreases to take effect as of the time each such Letter of Credit is cancelled.