Welcome to our dedicated page for James River Group Holdings news (Ticker: JRVR), a resource for investors and traders seeking the latest updates and insights on James River Group Holdings stock.
James River Group Holdings, Inc. (NASDAQ: JRVR) generates a steady flow of news as a specialty property and casualty insurance group with a focus on excess and surplus lines and specialty admitted insurance. Its public announcements and SEC filings highlight developments in underwriting performance, reserve management, investment income, capital actions and corporate governance, all of which are relevant to investors tracking JRVR news.
News about James River frequently centers on its quarterly financial results. The company issues detailed earnings releases for each quarter, reporting net income or loss from continuing operations, adjusted net operating income, combined ratios, expense ratios, gross and net written premium by segment, reserve development and tangible common equity metrics. These releases also describe trends in the Excess and Surplus Lines segment, such as combined ratio levels, renewal rate changes, submission growth and the impact of retroactive reinsurance structures, as well as strategic decisions in the Specialty Admitted Insurance segment to manage risk retention and premium volume.
JRVR news coverage also includes capital management updates, such as declarations of cash dividends on common shares, and information on investment results, including net investment income, realized and unrealized gains or losses, and portfolio yield statistics. In addition, the company issues press releases and files current reports on executive and board changes, including appointments of new directors, segment presidents, chief information and claims officers, and senior leaders in investments and investor relations.
Another recurring theme in James River’s news is corporate structure and governance. Notable items include the domestication from Bermuda to Delaware, shareholder votes on amendments to long‑term incentive and non‑employee director plans, and legal developments related to prior business disposals. Together, these updates provide context on how the company is governed, how it manages risk and capital, and how its specialty insurance segments are evolving. Investors and analysts who follow JRVR can use this news feed to monitor changes in underwriting performance, reserve actions, leadership and corporate structure over time.
James River Group Holdings (NASDAQ: JRVR) faces shareholder criticism over the Board's recent decision to award approximately $2.115 million in discretionary management bonuses for the 2024 performance period. Gregory and Scott Fortunoff, who hold nearly 2% of JRVR's outstanding shares, expressed shock at this decision given the company's significant underperformance.
The shareholders highlighted that JRVR's stock price has declined approximately 59% over the past year, while book value dropped about 30%. In 2024, the company reduced its annual cash dividend from $0.20 to $0.05 per share due to deteriorating financial results. The letter criticizes the Board, noting that except for Matthew Botein, they collectively own less than 0.5% of outstanding shares, while receiving approximately $1.331 million in group compensation.
The Fortunoffs propose that any bonuses should be awarded in stock options rather than cash, and unused portions should be distributed to shareholders as a special dividend. They threaten further action if the Board fails to prioritize capital preservation and shareholder interests.
James River Group (NASDAQ: JRVR) reported a challenging fourth quarter 2024, with a net loss from continuing operations of $92.7 million ($2.25 per diluted share) and adjusted net operating loss of $40.8 million ($0.99 per diluted share). The decline was primarily due to a $52.8 million payment for an E&S adverse development reinsurance contract with Cavello Bay Reinsurance.
Key highlights for 2024 include: E&S segment gross written premium exceeded $1.0 billion for second consecutive year, positive renewal rate change of 9.0%, and net investment income increased 10.8% compared to 2023. The company completed strategic actions including the sale of JRG Reinsurance Company, a $160 million loss portfolio transfer, and a new partnership with Enstar involving a $12.5 million equity investment.
Shareholders' equity per share decreased to $10.10 from $14.02 in Q3 2024. The company announced a $0.01 per common share dividend payable March 31, 2025.
James River Group Holdings (NASDAQ: JRVR) has announced its upcoming fourth quarter 2024 earnings release schedule. The company will disclose its Q4 2024 financial results after market close on Monday, March 3, 2025. A conference call to discuss the results is scheduled for Tuesday, March 4, 2025, at 8:30 a.m. Eastern Time.
Investors and interested parties can access the conference call by dialing (800) 715-9871 with conference ID 6424000, or through the company's investor website at https://investors.jrvrgroup.com. A replay of the call will be made available at the same location.
James River Group Holdings (NASDAQ: JRVR) has successfully completed two significant transactions with Cavello Bay Reinsurance , a subsidiary of Enstar, as announced on December 23, 2024. The transactions include the closing of an adverse development reinsurance agreement and a $12.5 million common equity investment. These arrangements were executed according to the terms previously disclosed on November 11, 2024.
James River Group Holdings (NASDAQ: JRVR) reported a net loss from continuing operations of $40.7 million ($1.07 per diluted share) in Q3 2024, compared to net income of $21.1 million in Q3 2023. The loss was primarily due to a $52.2 million excess consideration paid for E&S combined loss portfolio transfer and $19.2 million of additional adverse development. The E&S segment showed 6% premium growth with 8.6% renewal rate increase. The company announced strategic partnerships with Enstar Group, including a $12.5 million investment at $6.40 per share, and amended convertible preferred shares with Gallatin Point Capital. The company plans to redomicile to the United States in 2025.
James River Group Holdings, (NASDAQ: JRVR) has announced its schedule for the release of third quarter 2024 earnings. The company will disclose its financial results after the market closes on Monday, November 11, 2024. Following this, James River will host an earnings conference call on Tuesday, November 12, 2024, starting at 8:30 a.m. Eastern Time.
Interested parties can access the conference call by dialing (800) 715-9871 with the conference ID 6261499. Alternatively, the call can be accessed through the company's investor website at https://investors.jrvrgroup.com. For those unable to attend the live call, a replay will be made available on the same website.
James River Group Holdings, (NASDAQ: JRVR) reported second quarter 2024 results. Key highlights include:
- Net income from continuing operations of $11.9 million ($0.31 per diluted share)
- Adjusted net operating income of $12.7 million ($0.33 per diluted share)
- Group combined ratio of 99.3%
- E&S segment combined ratio of 95.4% with 9.1% positive renewal rate change
- Specialty Admitted Insurance segment combined ratio of 85.0%
- Net investment income increased 36.7% year-over-year
- Shareholders' equity per share increased 0.8% to $14.32
The company continues to focus on de-risking and generating attractive returns on capital. The Board of Directors is exploring strategic alternatives for the company.
James River Group Holdings, (NASDAQ: JRVR) has announced its schedule for the release of second quarter 2024 earnings. The company will disclose its financial results after the market closes on Monday, August 5, 2024. Following this, James River will host an earnings conference call on Tuesday, August 6, 2024, starting at 8:30 a.m. Eastern Time.
Interested parties can access the conference call by dialing (800) 715-9871 with the conference ID 8370409. Alternatively, the call can be accessed through the company's investor website at https://investors.jrvrgroup.com. For those unable to attend the live call, a replay will be made available on the same website.
AM Best has confirmed that the credit ratings of James River Group Holdings (NASDAQ: JRVR) and its subsidiaries remain unchanged following a reinsurance agreement with State National Insurance Company. Effective January 1, 2024, this agreement includes a combined loss portfolio transfer and adverse development cover, providing $160 million in reinsurance coverage for JRG Holdings' excess and surplus lines segment for accident years 2010-2023. The agreement excludes the company's former large commercial auto book. JRG Holdings will continue managing claims, with a 15% co-participation in the reinsurance structure.
James River Group Holdings (NASDAQ: JRVR) has announced a reinsurance agreement with State National Insurance Company. The deal provides $160 million in adverse development coverage for James River's Excess and Surplus Lines segment for accident years 2010-2023, with James River retaining a 15% co-participation. The reinsurance excludes certain large commercial auto exposures but covers most other liabilities, with no sublimits. Effective January 1, 2024, the agreement is expected to reduce James River's third-quarter pre-tax income by $52.2 million. A profit commission allows James River to benefit from favorable development under specific conditions. This transaction aims to de-risk the company's balance sheet and enhance financial stability.
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