James River Q1 2024 Earnings Report
Key Takeaways
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.
Group combined ratio of 95.3% and adjusted net operating return on tangible common equity of 17.4%.
E&S segment combined ratio of 87.3% and renewal rate change of 10.7%, with most underwriting divisions reporting positive pricing increases.
Specialty Admitted Insurance segment combined ratio of 97.0%, with fronting and program gross written premium growth of 23.0% excluding the non-renewed workers' compensation program.
Net investment income increased 22.8% compared to the prior year quarter.
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James River Revenue by Segment
Forward Guidance
The Board of Directors continues its exploration of strategic alternatives for the Company that was announced in November of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income