James River Q3 2022 Earnings Report
Key Takeaways
James River Group Holdings reported a net loss available to common shareholders of $7.2 million, or $0.19 per diluted share, for the third quarter of 2022. However, adjusted net operating income was $15.5 million, or $0.41 per diluted share. The company's combined ratio was 94.1%, and 91.5% excluding catastrophe losses. Net written premium growth was 20.3%, driven by increased net retention in the Excess and Surplus Lines segment.
Group combined ratio of 94.1%, and 91.5% excluding catastrophe losses; adjusted net operating return on tangible common equity of 17.5%.
Excess and Surplus Lines segment combined ratio of 88.2%, and 84.6% excluding the impact of catastrophe losses.
Net written premium growth of 20.3% due to increased net retention in the E&S segment; E&S renewal pricing increased 8.4%.
Net investment income increased 17.7% sequentially compared to the second quarter of 2022.
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James River Revenue by Segment
Forward Guidance
James River Group Holdings will hold a conference call to discuss its third quarter results on November 2, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income