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.
Fortitude Re, Bermuda’s leading multi-line reinsurer, has finalized a reinsurance agreement with JRG Reinsurance Company, a subsidiary of James River Group Holdings Ltd. (NASDAQ: JRVR). The deal provides JRG Re with up to $400 million in aggregate reinsurance protection for its casualty portfolio, at a premium of $335 million. The transaction is subject to regulatory approval and other customary conditions. Fortitude Re aims to deliver tailored solutions for legacy insurance lines and holds approximately $48 billion in invested assets as of December 31, 2021.
James River Group Holdings, Ltd. (NASDAQ: JRVR) reported a fourth quarter 2021 net loss of $66.3 million ($1.78 per diluted share), a significant decline from $20.3 million ($0.66 per diluted share) in Q4 2020. Adjusted net operating loss rose to $67.5 million ($1.81 per diluted share). Despite the losses, the Core Excess and Surplus Lines segment achieved 14.1% growth in gross written premium and 9.5% increase in renewal pricing. The company announced a loss portfolio transfer agreement with Fortitude Re, affecting approximately $335 million in liabilities, and has issued $150 million in Convertible Preferred Shares to bolster capital.
James River Group Holdings, Ltd. (NASDAQ: JRVR) will release its earnings for Q4 2021 on February 28, 2022. Following this, a conference call for analysts and investors is scheduled for March 1, 2022, at 8:30 a.m. ET. Investors can participate by calling (877) 930-8055 or via the internet through their investor relations page. The company is known for its specialty insurance and reinsurance services, categorized into three segments: Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance. Each subsidiary holds an 'A-' rating from A.M. Best Company.
James River Group Holdings, Ltd. (JRVR) has appointed Mike Hoffmann as the Group Chief Underwriting Officer. In his new role, Hoffmann will oversee underwriting, enterprise risk, and ceded reinsurance strategies. He brings over 30 years of experience, previously serving at Everest and Allied World Assurance. CEO Frank D’Orazio expressed enthusiasm about Hoffmann's expertise in property and casualty underwriting, indicating a strong alignment with the company's strategic goals.
James River Group Holdings (NASDAQ: JRVR) reported a third-quarter 2021 net loss of $23.9 million ($0.64 per diluted share), down from a profit of $26.3 million ($0.85 per diluted share) a year prior. Adjusted net operating loss was $26.8 million ($0.72 per diluted share). The Excess and Surplus Lines segment achieved a 21.3% growth in gross written premium, with 8.7% rise in renewal pricing. The company also faced $5 million in net catastrophe losses from Hurricane Ida and a $29.6 million pre-tax reserve development related to a legacy transaction. A cash dividend of $0.30 per share was declared.
James River Group Holdings, Ltd. (NASDAQ: JRVR) announced the election of Patricia H. Roberts, Thomas L. Brown, and Kirstin M. Gould to its Board of Directors, increasing board size from 10 to 11 members. Roberts, previously President of General Star Management, and Brown, a former CFO of RLI Corp., bring extensive financial and governance expertise. Gould, former EVP and General Counsel at XL Group, adds legal and risk management experience. The appointments are anticipated to enhance the company's governance and operational capabilities in the specialty insurance sector.
James River Group Holdings, Ltd. (NASDAQ: JRVR) has released preliminary financial results for Q3 2021, anticipating a net loss of $23 million to $26 million and an adjusted net operating loss of $25.5 million to $28.5 million. The company expects a combined ratio of 120-125%. Despite facing $5 million in catastrophe losses from Hurricane Ida and other financial burdens, the Excess and Surplus Lines segment saw a 20% growth in gross written premiums compared to the previous year. Further results are expected to be detailed in the full earnings report on November 2, 2021.
James River Group Holdings, Ltd. (NASDAQ: JRVR) will release its earnings for Q3 2021 on November 2, 2021, after market close. A conference call for analysts and investors is scheduled for November 3, 2021, at 9:00 a.m. (ET) to discuss the results. Investors can participate by calling (877) 930-8055 with conference ID# 3487409 or via the company's website. James River operates in specialty insurance and reinsurance, with subsidiaries rated “A-” (Excellent) by A.M. Best Company.
James River Group Holdings, Ltd. (NASDAQ: JRVR) announced a significant loss portfolio transfer reinsurance transaction with Aleka Insurance, Inc., a captive insurer of Uber. The Company ceded approximately $345.1 million in commercial auto liabilities related to Uber's ridesharing business for policies from 2013 to 2019. James River will recognize an after-tax loss of about $23.5 million in Q3 2021, mainly due to claims handling costs. The transaction, effective July 1, 2021, allows James River to finalize its commercial auto run-off portfolio, enhancing focus on future business objectives.
James River Group Holdings, Ltd. (NASDAQ: JRVR) announced that Brett Shirreffs has been appointed as Senior Vice President, Investments and Investor Relations, effective September 20, 2021. He will report to Chief Financial Officer Sarah Doran. Shirreffs brings substantial experience from Argo Group and previously held a Vice President position at Keefe, Bruyette & Woods, focusing on equity research in the property and casualty insurance sector. Doran expressed confidence in Shirreffs' ability to strengthen investor relations and enhance investment strategies.
FAQ
What is the current stock price of James River Group Holdings (JRVR)?
What is the market cap of James River Group Holdings (JRVR)?
What does James River Group Holdings, Ltd. do?
Where is James River Group Holdings, Ltd. located?
What are the main segments of James River Group's business?
How is James River Group Holdings rated?
What recent achievements has James River Group Holdings made?
How can investors stay updated on James River Group Holdings' performance?
What is the focus of the Specialty Admitted Insurance segment?
What is the role of the Excess and Surplus Lines segment?
What types of risks does James River Group manage?
Who can I contact for more information about James River Group Holdings?
