Debevoise & Plimpton LLP has advised James River Group Holdings, Ltd. in connection with its loss portfolio transfer reinsurance transaction with Aleka Insurance, Inc., a wholly owned captive insurer of Uber Technologies, Inc., under which Aleka will reinsure all of James River’s legacy portfolio of commercial auto policies related to Uber’s ridesharing business. Under the terms of the transaction, James River ceded to Aleka approximately $345.1 million of commercial auto liabilities related Uber’s ridesharing business from 2013-2019. For more information, please see James River’s press release.
James River is a Bermuda-based insurance holding company which owns and operates a group of specialty insurance and reinsurance companies.
The team was led by insurance M&A partner Alexander Cochran and included associates Douglas Kim and Brita Siepker and tax partner Michael Bolotin.