SEC Comment Letter for James River Group Holdings, Ltd. (JRVR) (CIK 0001620459) (JRVR) — Nov 24, 2014
James River Group Holdings, Ltd. (JRVR) (CIK 0001620459)
Date: Nov. 24, 2014 · CIK: 0001620459 · Accession: 0000000000-14-059831
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November 24 , 2014 Via E -mail Gregg Davis Chief Financial Officer James River Group Holdings, Ltd. 32 Victoria Street Hamilton, Bermuda HM 12 Re: James River Group Holdings, Ltd. Registration Statement on Form S -1 Filed November 7, 2014 File No. 333 -199958 Dear Mr. Davis : We have reviewed your registration statement and have the following additional comment. In some of our comments, we may ask you to provide us with infor mation so we may better understand your disclosure. Please respond to this letter by providing the requested infor mation and amending your registration statement. If you do not believe our comment applies to your facts and circu mstances or do not believe an amendment is a ppropriate, please tell us why in your response. After revie wing the infor mation you provide in response to this com ment, we may have additio nal co mments. Prospectus Summary Our Competitive Strengths, page 4 1. We note your response to our prior comment 3 and your revised disclosure on pages 4, 117, and 135 citing “examples of non -traditional investments” and their respective percentage of your total invested assets. Please confirm that you have provided each of your investment classes tha t fall into these categories. Alternately, if you hold other classes of non-traditional investments that are material to your portfolio, you shoul d also disclose those and their percentage of your total invested assets. We urge all persons who are res ponsible for the accuracy and adequacy of the disclos ure in the filing to be ce rtain that the filing includ es the information the Secu rities Act of 1933 and all applicable Securities Act rules require. Since the co mpany and its manag ement are in possessio n of all facts r elating to a co mpany’s disclosure, they are responsi ble for the acc uracy and adequacy of the disclos ures they have made. Gregg Davis James River Group Holdings, Ltd. November 24 , 2014 Page 2 Notwithstanding our comment, in the e vent you request acceleration of the effective date of the pending registration s tatement please pr ovide a writt en state ment from the company acknowledging that: should the Commission or the staff, acting pursuant to delegated authority, declare the filing effective, it does not foreclose the Com mission from taking any action with respect to the filing; the action of the Com mission or the staff, acting pursuant to delegated authority, in declaring the filing effecti ve, does not relieve the co mpany from its full responsibility for the adequacy and accuracy of the discl osure in the filing; and the co mpany may not assert staff comments and the declaration of effectiveness as a defense in any proceeding initia ted by the Commission or any person under the federal securiti es laws of the United Stat es. Please refer to Rules 460 and 461 regarding requests for acceleration. We will consider a written reque st for acceleration of the effective date of the registration state ment as confir mation of the fact that those requesting ac celeration are aware of t heir respective responsibilities und er the Securities Act of 1933 and the Securities Exchange Act of 1934 as they relate to the proposed public offering of the secur ities specified in the above registration state ment. Please all ow adequate ti me for us to review any a mendment prior to the req uested effecti ve date of the registration state ment. You may contact Dana Hartz at (202) 551 -3648 or Mary Mast at (202) 551 -3613 if you have questions regarding comments on the financial statements and related matters. Please contact Austin Stephenson at (202) 551 -3192 or me at (202) 551 -3715 with any other questions. Sincerely, /s/Jeffrey P. Riedler Jeffrey P. R iedler Assista nt Direct or cc: Via E -mail Andrew Rodman, Esq. Bryan Cave LLP