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Uber’s Insurer Says It’s No Hedge Fund, Just Bets on Junk

The insurer that ride-sharing service Uber Technologies Inc. uses to protect drivers and passengers is going public, promoting how it’s more willing than competitors to invest in junk-rated loans.

James River Group Holdings Ltd. outlined its strategy this way in a Dec. 2 prospectus: “We do not operate like a hedge fund, but we are comfortable allocating a portion of our assets to non-traditional investments.”