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, Ltd (NASDAQ: JRVR) is a Bermuda-based insurance holding company headquartered at 7130 Glen Forest Drive, Richmond, Virginia, United States. The company operates through a group of specialty insurance and reinsurance companies, organized into three core segments: Excess and Surplus Lines, Specialty Admitted Insurance, and Corporate and Other.
The Excess and Surplus Lines segment is the primary revenue generator for James River, offering commercial liability and excess property insurance products. This division caters to a wide range of risks, providing solutions that are often not available in the standard insurance market.
The Specialty Admitted Insurance segment focuses on niche classes within the standard insurance markets, with a particular emphasis on fronting business. This involves retaining a minority share of the risk while earning fee income by leveraging its licensure, ratings, and infrastructure to facilitate other carriers and producers.
The Corporate and Other segment includes the management and treasury activities of the holding companies, as well as equity compensation for the group's employees.
James River has been recognized for its performance and stability, with each of its U.S. regulated insurance subsidiaries receiving an “A-” (Excellent) rating from A.M. Best Company. This rating reflects the company's strong operating performance, solid capitalization, and robust risk management practices.
Recent achievements for James River include their focus on tangible equity and underwriting performance ratios, demonstrating effective financial management. Additionally, the company has been actively involved in legal proceedings, such as the recent court order requiring Fleming Intermediate Holdings to complete a transaction, highlighting James River's commitment to enforcing its contractual rights.
For investors, James River regularly provides updates and insights through press releases and conference calls, accessible via their investor website. The company's strategic focus on maintaining strong relationships with brokers, agents, and customers ensures a stable and diversified revenue stream.
James River's business model and strategic initiatives position it well in the specialty insurance market, poised for continuous growth and resilience in the ever-evolving insurance landscape.
James River Group Holdings reported a substantial recovery in Q4 2022, with net income of $15.1 million ($0.40 per diluted share) compared to a loss of $66.3 million in Q4 2021. The adjusted net operating income rose to $20.2 million ($0.53 per diluted share), reversing a significant loss from the previous year. Highlights include a combined ratio of 91.7% and impressive premium growth of 11.3% in the E&S segment, with net investment income soaring 88.1%. The company aims to focus on its core insurance strengths by suspending the Casualty Reinsurance segment. A dividend of $0.05 per share was declared, payable on March 31, 2023.
James River Group Holdings, Ltd. (NASDAQ: JRVR) announced the release of its earnings for Q4 2022, scheduled for February 27, 2023, after market close. A conference call will follow on February 28, 2023, at 8:30 a.m. ET, for analysts and investors to discuss the results. The company operates in specialty insurance and reinsurance, with its subsidiaries rated 'A-' (Excellent) by A.M. Best. Interested participants can join the call at (800) 715-9871 or via the company’s website.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of 'a-' (Excellent) for James River Group Holdings, Ltd. (NASDAQ: JRVR) and its subsidiaries, with a stable outlook. The ratings reflect the group's very strong balance sheet strength and adequate operating performance, although recent results have been mixed across segments. The company has enhanced its balance sheet through successful capital raises and loss portfolio transfer transactions. The Long-Term ICR of 'bbb-' (Good) for JRG Holdings has also been affirmed.
James River Group Holdings reported a third quarter 2022 net loss of $7.2 million ($0.19 per share), improved from a loss of $23.9 million in Q3 2021. Adjusted net operating income was $15.5 million ($0.41 per share), reversing a loss from the prior year. The Group combined ratio stood at 94.1%, with a strong E&S segment ratio of 88.2%. Net written premiums rose 20.3%, driven by increased retention and pricing. Despite $5 million in catastrophe losses from Hurricane Ian, net investment income grew 17.7% sequentially. The company declared a cash dividend of $0.05 per share.
James River Group Holdings (NASDAQ: JRVR) announced the election of Peter B. Migliorato to its Board of Directors during the Annual General Meeting. Alongside him, Ollie Sherman, Kirstin Gould, and Michael Oakes were re-elected, maintaining an eight-member board with one observer. J. Adam Abram, the Non-Executive Chairman, expressed optimism about Migliorato's expertise in innovation and strategy within the insurance sector. Previously a partner at Deloitte Consulting, Migliorato has extensive experience in the insurance industry. The company operates in specialty insurance and reinsurance segments.
James River Group Holdings, Ltd. (NASDAQ: JRVR) will announce its earnings for Q3 2022 on November 1, 2022, after market close. A conference call for analysts and investors is scheduled for November 2, 2022, at 8:00 a.m. ET. Investors can join the call by dialing (800) 715-9871, using conference ID 2262462, or by accessing the webcast via the company’s website. James River operates in specialty insurance and reinsurance, boasting an 'A-' (Excellent) rating from A.M. Best for each of its regulated subsidiaries.
James River Group Holdings reported a second quarter 2022 net income of $5.0 million ($0.13 per diluted share), a decline from $20.8 million ($0.60 per diluted share) in Q2 2021. Adjusted net operating income rose to $20.0 million ($0.52 per diluted share) from $18.8 million ($0.54 per diluted share) year-over-year. The Excess and Surplus Lines segment showed strong growth with a 24.6% increase in gross written premium, while overall gross written premium grew by 5% to $399.7 million. The combined ratio for the quarter was 91.0%, with a year-to-date ratio of 94.2%.
James River Group Holdings, Ltd. (NASDAQ: JRVR) will announce its earnings for Q2 2022 on August 1, 2022, after market close. A conference call for discussing these results will take place on August 2, 2022, at 8:30 a.m. ET. Investors can participate by dialing (866) 374-5140 with conference ID 28028506 or via the company's website. James River specializes in property-casualty insurance and reinsurance across three segments: Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance, with each subsidiary rated “A-” (Excellent) by A.M. Best.
James River Group Holdings reported first quarter 2022 net income of $9.3 million ($0.25 per diluted share), reversing a net loss of $103.5 million in Q1 2021. Adjusted net operating income reached $13.9 million ($0.37 per diluted share). The combined ratio was 97.4%, impacted by a loss portfolio transfer. Excess and Surplus Lines, the largest segment, achieved a 12.6% increase in gross written premium. Expense ratio improved to 26.0%. Net investment income rose by 7.8% due to renewable energy investments. A cash dividend of $0.05 per share was declared, payable June 30, 2022.
James River Group Holdings, Ltd. (NASDAQ: JRVR) will release its earnings for Q1 2022 on May 9, 2022, after market close. A conference call for analysts and investors is scheduled for May 10, 2022, at 8:30 a.m. Eastern Time. Investors can join the call by dialing (877) 930-8055 or visiting the company’s website. James River operates in specialty insurance and reinsurance sectors and is rated “A-” (Excellent) by A.M. Best Company.
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