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Mar 31, 2023
James River Q1 2023 Earnings Report
James River reported a profitable quarter driven by strong growth in the E&S segment, solid underwriting profitability, and meaningful investment contributions.
Key Takeaways
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.
Group combined ratio of 94.9% and Excess and Surplus Lines (E&S) segment combined ratio of 86.8%.
E&S segment gross and net written premium growth of 12.1% and 17.3%, respectively.
E&S segment renewal rates increased 8.9%, with all underwriting divisions reporting positive pricing increases.
Net investment income increased 58.4% compared to the prior year quarter, and 12.9% sequentially.
Revenue by Segment
Forward Guidance
Company believes James River is well poised to continue to deliver excellent underwriting performance and compelling shareholder returns.
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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