James River Q2 2021 Earnings Report
Key Takeaways
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.
Second Quarter 2021 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)
Combined ratio of 89.7% for the Group and 77.2% in the E&S segment, an improvement of 5.3 and 6.8 points, respectively, over the prior year quarter.
Record quarterly underwriting profit of $25.7 million for the combined operating segments
15.1% growth in Core (excluding Commercial Auto) Excess and Surplus Lines ("E&S") Gross Written Premium and 18.1% increase in E&S renewal pricing, each versus the prior year quarter
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James River Revenue by Segment
Forward Guidance
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995.
Revenue & Expenses
Visualization of income flow from segment revenue to net income