James River Earnings Reports

James River reported a net loss of $92.7 million from continuing operations in Q4 2024, with adjusted net operating loss at $40.8 million. Net earned premiums declined 42% YoY to $105.6 million, reflecting lower retention in the E&S segment. The company's underwriting loss widened due to a $52.8 million reinsurance contract expense. Investment income fell 14%, and the expense ratio surged to 43.7%.

James River Group Holdings reported a net loss of $42 million for Q3 2024, or $1.10 per share. The adjusted net operating loss was $28.2 million, primarily due to excess consideration paid in connection with the E&S ADC. Strategic actions were announced, including a partnership with Enstar Group and amendments to convertible preferred shares held by Gallatin Point Capital.

James River Group Holdings reported a net income from continuing operations available to common shareholders of $11.9 million, or $0.31 per diluted share. The company's adjusted net operating income was $12.7 million, or $0.33 per diluted share, reflecting strong investment income and profitable underwriting results from continuing operations. The Group combined ratio was 99.3%, and the adjusted net operating return on tangible common equity was 14.9%.

James River Group Holdings reported a net income from continuing operations available to common shareholders of $20.9 million, or $0.53 per diluted share, and an adjusted net operating income of $14.8 million, or $0.39 per diluted share, for the first quarter of 2024. The company's performance was driven by strong investment income and profitable underwriting results, particularly in the Excess and Surplus Lines segment.

James River Group Holdings reported a net loss of $152.78 million for Q4 2023, primarily driven by a net loss from discontinued operations including an $80.4 million loss on held for sale classification of JRG Re and an $89.8 million loss from discontinued operations. Adjusted net operating income was $12.4 million, reflecting strong investment income and profitable underwriting results from continuing operations.

James River Group Holdings reported a net income available to common shareholders of $16.9 million, or $0.45 per diluted share, for the third quarter of 2023. The adjusted net operating income was $18.3 million, or $0.48 per diluted share. The company's E&S segment benefited from strong trading conditions, with renewal rate increases of 12% and premium growth in Core E&S divisions exceeding 10%.

James River Group Holdings reported a net income available to common shareholders of $21.1 million, or $0.54 per diluted share, for the second quarter of 2023. The company's adjusted net operating income was $20.6 million, or $0.53 per diluted share. The combined ratio for the group was 94.6%, and the Excess and Surplus Lines segment had a combined ratio of 87.8%.

James River Group Holdings reported a net income of $7.0 million ($0.18 per diluted share) for Q1 2023, compared to $9.3 million ($0.25 per diluted share) for Q1 2022. Adjusted net operating income was $21.6 million ($0.56 per diluted share), compared to $13.9 million ($0.37 per diluted share) for the same period last year. The company saw strong growth and attractive renewal rates in its E&S segment, solid underwriting profitability, and meaningful contributions from its investment portfolio.

James River Group Holdings reported a net income available to common shareholders of $15.1 million, or $0.40 per diluted share, for Q4 2022, compared to a net loss of $66.3 million, or $1.78 per diluted share, for the same period in 2021. Adjusted net operating income for Q4 2022 was $20.2 million, or $0.53 per diluted share, compared to an adjusted net operating loss of $67.5 million for Q4 2021. The company's E&S segment experienced gross and net written premium growth, and net investment income increased significantly.

James River Group Holdings reported a net loss available to common shareholders of $7.2 million, or $0.19 per diluted share, for the third quarter of 2022. However, adjusted net operating income was $15.5 million, or $0.41 per diluted share. The company's combined ratio was 94.1%, and 91.5% excluding catastrophe losses. Net written premium growth was 20.3%, driven by increased net retention in the Excess and Surplus Lines segment.

James River Group Holdings reported second quarter 2022 net income available to common shareholders of $5.0 million, or $0.13 per diluted share, compared to $20.8 million, or $0.60 per diluted share, for the second quarter of 2021. Adjusted net operating income for the second quarter of 2022 was $20.0 million, or $0.52 per diluted share, compared to $18.8 million, or $0.54 per diluted share, for the same period in 2021. The Group combined ratio was 91.0%, with the Excess and Surplus Lines segment producing a combined ratio of 83.8%.

James River Group Holdings reported a net income of $9.3 million, or $0.25 per diluted share, for the first quarter of 2022, compared to a net loss of $103.5 million, or $3.37 per diluted share, for the first quarter of 2021. Adjusted net operating income for the first quarter of 2022 was $13.9 million, or $0.37 per diluted share, compared to an adjusted net operating loss of $108.8 million for the same period in 2021. The Group combined ratio was 97.4%, elevated by 6.1 percentage points due to the Casualty Reinsurance loss portfolio transfer. The E&S segment produced a combined ratio of 83.7%.

James River Group Holdings reported a net loss of $66.3 million for the fourth quarter of 2021, compared to a net loss of $20.3 million for the same period in 2020. The adjusted net operating loss was $67.5 million, compared to an adjusted net operating loss of $29.0 million in the prior year. The E&S segment reported an 82.1% combined ratio, and the Specialty Admitted unit grew fee income by 27.1% with an 84.7% combined ratio.

James River Group Holdings reported a net loss of $23.9 million, or $0.64 per diluted share, for the third quarter of 2021, compared to a net income of $26.3 million, or $0.85 per diluted share, for the third quarter of 2020. The adjusted net operating loss was $26.8 million, or $0.72 per diluted share, compared to an adjusted net operating income of $17.4 million, or $0.56 per diluted share, for the same period in 2020. The E&S segment experienced growth in gross written premium and renewal pricing. Third quarter results include a pre-tax loss of $29.6 million related to adverse loss and loss adjustment expense reserve development in the E&S segment associated with a loss portfolio transfer reinsurance transaction.

James River Group Holdings reported excellent second quarter results, with a net income of $20.8 million ($0.60 per diluted share) and adjusted net operating income of $18.8 million ($0.54 per diluted share). The company saw growth in core E&S gross written premiums, an increase in E&S renewal rates, and scaling of the fronting business in the Specialty Admitted Insurance segment. The Group also produced a record underwriting profit in the quarter.

James River Group Holdings reported a net loss of $103.5 million for the first quarter of 2021, compared to a net loss of $36.8 million for the same period in 2020. The adjusted net operating loss for the first quarter of 2021 was $108.8 million, compared to an adjusted net operating income of $15.4 million for the same period in 2020. The company experienced higher than expected reported losses in its large commercial auto account in runoff, leading to a material strengthening of reserves.

James River Group Holdings reported a net loss of $20.3 million for the fourth quarter of 2020, compared to a net income of $20.5 million for the same period in 2019. The adjusted net operating loss was $29.0 million, compared to an adjusted net operating income of $23.3 million in the prior year. The results were impacted by unfavorable reserve development in the E&S and Casualty Reinsurance segments.

James River Group Holdings reported a net income of $26.3 million for the third quarter of 2020, a significant improvement compared to the net loss of $25.2 million in the same period of 2019. The company experienced growth in core E&S gross written premiums and fronted premium in Specialty Admitted Insurance segment.

James River Group Holdings reported a strong second quarter with net income of $35.6 million, driven by significant mark-to-market investment gains and improvements in the E&S segment. Core E&S renewal pricing increased by 20%, and gross written premium in Core E&S grew by 18%. The combined ratio for the E&S segment improved to 84.0%.

James River Group Holdings reported a net loss of $36.8 million for Q1 2020, driven by investment volatility, particularly in its senior secured bank loan portfolio. However, the core E&S business showed strong growth with gross written premiums up by 37%.

James River Group Holdings reported a net income of $20.5 million ($0.67 per diluted share) for Q4 2019, compared to $11.6 million ($0.38 per diluted share) for Q4 2018. Adjusted net operating income for the fourth quarter of 2019 was $23.3 million ($0.76 per diluted share), compared to $17.1 million ($0.56 per diluted share) for the same period in 2018. The combined ratio was 93.8%, and the underwriting profit was $13.6 million.