Welcome to our dedicated page for James River Grou news (Ticker: JRVR), a resource for investors and traders seeking the latest updates and insights on James River Grou stock.
James River Group Holdings Ltd (JRVR) specializes in non-standard insurance solutions through its excess/surplus lines and specialty admitted insurance segments. This news hub provides investors and industry professionals with essential updates about the company's strategic developments and market position.
Access timely press releases and curated analysis covering earnings reports, underwriting initiatives, and regulatory updates. Our collection includes verified information about leadership changes, product expansions, and risk management strategies specific to JRVR's niche insurance markets.
Key updates focus on the company's core operations including commercial E&S lines, fronting arrangements in specialty insurance, and corporate financial management. Stay informed about how JRVR addresses complex risks through its specialized underwriting expertise.
Bookmark this page for direct access to primary source materials and objective reporting about one of the specialty insurance sector's key players. Regularly updated content helps stakeholders track performance indicators and industry-specific developments.
James River Group Holdings (NASDAQ: JRVR) has announced the retirement of Robert P. Myron, President and COO, effective July 31, 2021, due to health issues from Lyme Disease. Myron has contributed over 11 years to the company and will continue a consulting relationship until December 31, 2021. CEO Frank D’Orazio expressed gratitude for Myron's leadership and contributions, assuring confidence in the company's future under the current management team. The company is recognized for its specialty insurance and reinsurance operations, each rated 'A-' by A.M. Best Company.
AM Best has downgraded the Financial Strength Rating (FSR) of James River Group Holdings, Ltd. (JRVR) from A to A-, with a negative outlook. The Long-Term Issuer Credit Ratings (ICR) for its operating subsidiaries have also dropped. This decision reflects weaknesses in the company's enterprise risk management following Q1 earnings, particularly in risk controls and culture. Despite a strong balance sheet assessment, concerns about adverse reserve development in commercial auto lines persist. The company quickly replenished capital via a stock offering, but long-term stability in reserves is needed.
James River Group Holdings, Ltd. (NASDAQ: JRVR) has priced its underwritten public offering of 5,650,000 common shares at $31.00 per share, totaling $175,150,000. The net proceeds will be used for general corporate purposes. This offering is expected to close on May 10, 2021, pending customary closing conditions. Underwriters have a 30-day option to purchase an additional 847,500 shares. Barclays and Keefe, Bruyette & Woods lead the offering, with additional managers involved. Details regarding the offering can be found in the filed prospectus supplements.
James River Group Holdings, Ltd. (NASDAQ: JRVR) announced an underwritten public offering of approximately $175 million of its common shares. The company plans to use the net proceeds for general corporate purposes. Additionally, it may grant underwriters a 30-day option to purchase around $26 million more in common shares. Barclays and Keefe, Bruyette & Woods are serving as joint book-running managers for the offering. Details will be available via a prospectus filed with the SEC.
James River Group Holdings reported a first quarter 2021 net loss of $103.5 million ($3.37 per diluted share), a significant decline from the $36.8 million loss in Q1 2020. Adjusted net loss was $108.8 million compared to a profit of $15.4 million in 2020. Despite these losses, core Excess and Surplus Lines (E&S) gross written premium rose 35.6% year-over-year, with a 14.6% increase in renewal pricing. The company's expense ratio improved to 28.9%, from 34.2% in the previous year, signaling better operational efficiency.
James River (NASDAQ: JRVR) will announce its earnings for Q1 2021 on May 5, 2021, after market close. A conference call for analysts and investors will follow on May 6, 2021, at 8:00 AM ET. This Bermuda-based insurance holding company operates in specialty property-casualty insurance and reinsurance, focusing on small and medium-sized businesses. All regulated insurance subsidiaries hold an 'A' (Excellent) rating from A.M. Best Company.
AM Best has revised the outlook for James River Group Holdings, Ltd. (JRVR) from stable to negative while affirming its Financial Strength Rating (FSR) of A (Excellent) and Long-Term Issuer Credit Ratings (Long-Term ICR) of “a”. The change follows adverse reserve development in the commercial auto line within its excess and surplus segment. This development is linked to a significant account now in runoff, raising concerns about the group’s balance sheet strength and the consistency of its reserves, indicating a need for long-term mitigation strategies.
James River Group Holdings reported a fourth quarter 2020 net loss of $20.3 million, or $0.66 per diluted share, contrasting with a net income of $20.5 million, or $0.67 per diluted share, in Q4 2019. The adjusted net operating loss was $29 million, compared to $23.3 million in net operating income in the same period last year. Despite these losses, the company achieved a 39% growth in Core E&S Gross Written Premium and a 9.3% increase in E&S renewal pricing. Full year tangible book value rose 8.9% to $18.84 per share, although the combined ratio was 105.6%.
James River Group Holdings, Ltd. (NASDAQ: JRVR) announced preliminary financial results for 2020, projecting a Net Income of $4-$5 million and Adjusted Net Operating Income of $18-$22 million. The full-year Combined Ratio is expected to be between 105-107%. E&S Gross Premium Written grew by 29% year-over-year. However, the results include unfavorable development of prior year loss reserves, estimated between $85-$90 million, particularly in the Commercial Auto division. CEO Frank D’Orazio highlighted strengthened reserves and ongoing opportunities in the Core E&S business.
James River Group Holdings (NASDAQ: JRVR) will release its earnings for Q4 2020 on February 25, 2021, after market close. A conference call for analysts and investors will take place on February 26, 2021, at 8:00 AM ET. Investors can access the call by dialing (877) 930-8055, using conference ID# 7962048, or via the company website. The company's subsidiaries hold an 'A' (Excellent) rating from A.M. Best, indicating robust financial health in the specialty insurance sector.
