James River Grou Stock Price, News & Analysis

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.

James River Group Holdings, Ltd. (NASDAQ: JRVR) announced the appointment of Frank D’Orazio as Chief Executive Officer, effective November 2, 2020. He replaces founder J. Adam Abram, who will transition to non-executive Chair of the Board. D’Orazio brings extensive experience from his previous roles, including Chief Operating Officer at Allied World Assurance Company. Additionally, Robert Myron will resign from the Board but continue as President and COO. Abram expressed confidence in D’Orazio's leadership and the company's strong momentum.

James River Group Holdings reported a strong performance in Q3 2020, with net income of $26.3 million ($0.85 per diluted share), reversing a net loss of $25.2 million in Q3 2019. Adjusted net operating income was $17.4 million ($0.56 per diluted share), compared to an adjusted net operating loss of $22.2 million a year ago. Core E&S gross written premium surged 28%, and renewal pricing increased 12.8%. The combined ratio improved to 94.2% and tangible book value per share increased 7.1% to $19.70.

James River (NASDAQ: JRVR) plans to release its earnings for Q3 2020, ending September 30, after market close on October 28, 2020. A conference call to discuss these results will occur on October 29, 2020, at 8:00 AM ET. Investors can join the call via phone or online, with a replay available until November 28, 2020. The company specializes in property-casualty insurance and reinsurance, focusing on small and medium-sized businesses. All subsidiaries are rated 'A' (Excellent) by A.M. Best Company.

James River Group Holdings reported a net income of $35.6 million ($1.16 per diluted share) for Q2 2020, up from $20.3 million ($0.66 per diluted share) a year earlier. Adjusted net operating income fell to $17.4 million ($0.56 per diluted share) from $20.2 million. The company achieved a 20% increase in Core Excess and Surplus Lines renewal pricing and an 18% rise in E&S Gross Written Premium. The combined ratio improved to 95.0%, driven by a strong recovery in capital markets, resulting in substantial mark-to-market investment gains.

James River (NASDAQ: JRVR) will release its earnings for Q2 2020 on July 29, 2020, after market close. A conference call is scheduled for July 30, 2020, at 8:00 AM ET to discuss the results with analysts and investors. Interested participants can join the call by dialing (877) 930-8055 or through the company's investor relations website. A replay of the call will be available until August 29, 2020. James River operates in the specialty insurance and reinsurance sectors, focusing on small to medium-sized businesses, and holds an 'A' (Excellent) rating from A.M. Best.