James River Grou Stock Price, News & Analysis

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.

James River Group Holdings (NASDAQ: JRVR) announced the appointment of Jim Gunson as Senior Vice President and Chief Claims Officer, effective September 2, 2021. With over 25 years in the property and casualty industry, Gunson previously held senior roles at CNA Financial and Chubb Corporation. CEO Frank D’Orazio expressed optimism about Gunson's technical expertise and leadership capabilities, expecting him to enhance the claims organization and further invest in risk management strategies.

James River Group Holdings reported a second quarter net income of $20.8 million or $0.60 per diluted share, down from $35.6 million or $1.16 per share last year. Adjusted net operating income was $18.8 million ($0.54 per diluted share), slightly up from $17.4 million ($0.56 per diluted share) in Q2 2020. The combined ratio improved to 89.7%, while the E&S segment achieved 77.2%. Gross written premiums rose 26% to $380.1 million, with excessive growth seen in the fronting business, which climbed 59%. A cash dividend of $0.30 per share was declared.