James River Q4 2019 Earnings Report
Key Takeaways
James River Group Holdings reported a net income of $20.5 million ($0.67 per diluted share) for Q4 2019, compared to $11.6 million ($0.38 per diluted share) for Q4 2018. Adjusted net operating income for the fourth quarter of 2019 was $23.3 million ($0.76 per diluted share), compared to $17.1 million ($0.56 per diluted share) for the same period in 2018. The combined ratio was 93.8%, and the underwriting profit was $13.6 million.
Net income reached $20.5 million, or $0.67 per diluted share.
Adjusted net operating income was $23.3 million, or $0.76 per diluted share.
Combined ratio improved to 93.8%, the lowest in three years.
Underwriting profit hit $13.6 million, the highest since becoming a public company in 2014.
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James River Revenue by Segment
Forward Guidance
The strong rate environment, coupled with a 27% growth in submissions during the fourth quarter, positions us well for 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income