Legal
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The agreement from Fleming to honour original terms still leaves it open to long-term damage.
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NFP claims it has so far lost five clients to Alliant, resulting in damages of $2mn.
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Fleming had attempted to land ~$78mn in ‘economic concessions’ on the deal.
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Ten states joined in the original suit.
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The global insurer also alleges breach of contract and fiduciary duty in the federal suit.
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Altamont-backed Fleming says it remains willing to acquire JRG Reinsurance.
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The six execs left Acrisure for rival broker Woodruff Sawyer in March.
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PCF claims it overpaid the first year earnout by over $19mn in the $226mn acquisition of Rice.
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Demand for funding is still seen as robust, however.
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Lockton broker Gary Giulietti said the size of the bond is "rarely, if ever, seen".
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The agency will track the potential impact of the lawsuit on James River’s ratings.
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James River sued Fleming yesterday to enforce the $277mn sale of its casualty re unit.