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Mar 31, 2021
James River Q1 2021 Earnings Report
James River reported a net loss and an adjusted net operating loss for Q1 2021.
Key Takeaways
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.
Net loss of $103.5 million and adjusted net operating loss of $108.8 million.
Core Excess and Surplus Lines gross written premium grew by 35.6%.
Expense ratio decreased to 28.9% from 34.2% in the prior year quarter.
Unfavorable development in the E&S segment was $168.7 million, including $170.0 million in Commercial Auto.
Revenue by Segment
Forward Guidance
The company expects the full year 2021 tax rate to approximate the 26.5% reported for the first quarter of 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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