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, Inc. (NASDAQ: JRVR) generates a steady flow of news as a specialty property and casualty insurance group with a focus on excess and surplus lines and specialty admitted insurance. Its public announcements and SEC filings highlight developments in underwriting performance, reserve management, investment income, capital actions and corporate governance, all of which are relevant to investors tracking JRVR news.
News about James River frequently centers on its quarterly financial results. The company issues detailed earnings releases for each quarter, reporting net income or loss from continuing operations, adjusted net operating income, combined ratios, expense ratios, gross and net written premium by segment, reserve development and tangible common equity metrics. These releases also describe trends in the Excess and Surplus Lines segment, such as combined ratio levels, renewal rate changes, submission growth and the impact of retroactive reinsurance structures, as well as strategic decisions in the Specialty Admitted Insurance segment to manage risk retention and premium volume.
JRVR news coverage also includes capital management updates, such as declarations of cash dividends on common shares, and information on investment results, including net investment income, realized and unrealized gains or losses, and portfolio yield statistics. In addition, the company issues press releases and files current reports on executive and board changes, including appointments of new directors, segment presidents, chief information and claims officers, and senior leaders in investments and investor relations.
Another recurring theme in James River’s news is corporate structure and governance. Notable items include the domestication from Bermuda to Delaware, shareholder votes on amendments to long‑term incentive and non‑employee director plans, and legal developments related to prior business disposals. Together, these updates provide context on how the company is governed, how it manages risk and capital, and how its specialty insurance segments are evolving. Investors and analysts who follow JRVR can use this news feed to monitor changes in underwriting performance, reserve actions, leadership and corporate structure over time.
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.
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.