Preheat oven to 350º. Butter a 9x12” baking dish.
In a small saucepan, combine the rice, nutmeg, and water. Bring to a boil, then cover and simmer for 15-20 min, or until rice is tender.
In a small bowl, whisk the eggs. Add the sugar, and melted butter, blend until evenly mixed and smooth. Set aside.
In a large bowl, mix the milk and heavy cream. Add the teaspoon salt. Whisk in the egg mixture.
Spread the rice around in the baking dish, then pour the liquid mixture over it. Stir in the raisins. Sprinkle the cinnamon and a pinch of salt. Place the baking dish inside a larger roasting pan. Fill the roasting pan with enough water so that the baking dish is sitting halfway in water.
Bake in oven for 40-45 min, until the middle moves slightly when shaken and the texture is custard-like.