Hello.
H2 with default MVStore engine supports different isolation levels only since the version 1.4.200, it looks like you use some older version.
Note that SERIALIZABLE isolation level in H2 is only partially supported, it prevents all three read phenomena, but doesn't ensure equivalence of sequential and concurrent execution of transactions.
You also shouldn't try to create Driver instances by yourself, it's a bad idea. If you need it due to some problem with DriverManager, use the instance returned by org.h2.Driver.load(). In normal cases you should use DriverManager.getConnection(), JdbcDataSource, or JdbcConnectionPool.