James River Q3 2021 Earnings Report

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.