PEMBROKE, Bermuda, July 09, 2024 (GLOBE NEWSWIRE) -- James River Group Holdings, Ltd. ("James River" or the "Company") (NASDAQ: JRVR) today announced that Christine LaSala has been appointed to its Board of Directors (the "Board") as an independent, non-executive member, effective immediately. With the appointment of Ms. LaSala, the Board has increased its size from seven to eight directors. Ms. LaSala was appointed to the Compensation and Human Capital Committee and the Nominating and Corporate Governance ...

"I am thrilled to welcome Christine to our Board," said Frank D'Orazio, the Company's Chief Executive Officer. "She has deep knowledge of the specialty property and casualty insurance industry and extremely valuable corporate governance expertise." Chairman Ollie L. Sherman, Jr., added, "We are fortunate to be adding an independent director with Christine's wealth of experience to the Board as we continue to carefully evaluate opportunities as part of our strategic review." This press release contains forwa ...

PEMBROKE, Bermuda, July 09, 2024 (GLOBE NEWSWIRE) -- James River Group Holdings, Ltd. ("James River" or the "Company") (NASDAQ: JRVR) today announced that two of its principal operating subsidiaries entered into a combined loss portfolio transfer and adverse development cover reinsurance agreement with State National Insurance Company, Inc. ("State National"). The transaction closed upon signing. James River was represented by Howden Re and Mayer Brown LLP. James River Group Holdings, Ltd. is a Bermuda-base ...

Financial Data and Key Metrics Changes - The company reported net income from continuing operations of $20.9 million or $0.53 per diluted share, compared to $5.3 million or $0.14 per diluted share for the same period a year ago [16] - Adjusted net operating income was $14.8 million or $0.39 per share, slightly down from $14.97 million or $0.40 per diluted share year-over-year [16] - The combined ratio for the quarter was 95.3%, compared to 94% a year ago, with an accident year loss ratio of 64.3%, improving by 140 basis points from the prior year [56][13] Business Line Data and Key Metrics Changes - The E&S business experienced a gross written premium decline of 6.6% due to non-renewals of larger accounts, while general casualty premiums increased by 16% year-over-year [33][12] - Specialty Admitted gross written premiums increased by 23% compared to the prior year quarter, excluding the impact of workers' compensation [35] - The E&S segment produced a combined ratio of 87.3%, generating $18.5 million of underwriting income [34] Market Data and Key Metrics Changes - The company saw over 90,000 submissions during the first quarter, marking the largest quarterly total in its history, with general casualty submission growth of 45% [8] - Renewal rates in the E&S segment increased by 10.7%, significantly higher than the first quarter of the previous year [10] - The company noted a strong premium growth in April, indicating a favorable rate environment [34] Company Strategy and Development Direction - The company is focused on profitable underwriting and maintaining a disciplined approach to non-renewals, particularly in larger accounts that do not meet profitability hurdles [9][60] - A strategic review process is ongoing, with no set timeline for completion, aimed at creating a more focused and profitable organization [27][28] - The company continues to benefit from strong and accelerating rate and submission growth, particularly in its SME business [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underwriting actions taken, emphasizing the importance of profitability over volume [20] - The company anticipates ample opportunities for growth in 2024, driven by strong submission flow and favorable pricing conditions [14] - Management acknowledged the challenges posed by aggressive pricing from competitors but remains committed to maintaining underwriting discipline [32] Other Important Information - The company experienced elevated operating expense ratios due to compensation expenses related to equity-based grants for retirement-eligible employees [17] - Net investment income from continuing operations increased by 23% to $22.6 million, with an embedded book yield of 4.6% [57] Q&A Session Summary Question: What is the strategy regarding larger accounts? - Management indicated a focus on smaller policies and lower limits to avoid larger claims, emphasizing the importance of underwriting discipline [60] Question: How to drive better margins in Specialty Admitted? - Management noted that growth in existing programs and gaining scale will be key to improving margins, despite recent strategic moves impacting top-line growth [65] Question: What is the current status with rating agencies? - Management confirmed regular communication with rating agencies, maintaining a healthy dialogue regarding capital and performance [66]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Securities registered pursuant to Section 12(b) of the Act: Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2024 or Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from _______ to _______ Commission File Number: 001-36777 JAMES RIVER GROUP HOLDINGS, LTD. (Exact name of registrant a ...

James River Group (JRVR) came out with quarterly earnings of $0.39 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this insurance holding company would post earnings of $0.43 per share when it actually produced earnings of $0.33, delivering a surprise of -23.26%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.James Rive ...

Pembroke, Bermuda, May 8, 2024 - James River Group Holdings, Ltd. ("James River" or the "Company") (NASDAQ: JRVR) today reported the following results for the first quarter 2024 as compared to the same period in 2023: | | Three Months Ended | | | | Three Months Ended | | | --- | --- | --- | --- | --- | --- | --- | | | March 31, | | | | March 31, | | | ($ in thousands, except for share data) | 2024 | | | per diluted share | 2023 | per diluted share | | Net income from continuing operations available to | | | ...

PEMBROKE, Bermuda, April 16, 2024 (GLOBE NEWSWIRE) -- James River Group Holdings, Ltd. ("James River" or the "Company") (NASDAQ:JRVR) today announced that Fleming Intermediate Holdings ("Fleming") has completed its acquisition of JRG Reinsurance Company, Ltd. ("JRG Re") at the previously agreed upon terms. Frank D'Orazio, the Company's Chief Executive Officer, commented, "We are pleased to have successfully completed our sale of JRG Re to Fleming in accordance with the Stock Purchase Agreement that the part ...

James River Group Holdings, Ltd. (NASDAQ:JRVR) Q4 2023 Results Conference Call February 29, 2024 8:30 AM ET Company Participants Brett Shirreffs - Head-Investor Relations Frank D’Orazio - Chief Executive Officer Sarah Doran - Chief Financial Officer Conference Call Participants Mark Hughes - Truist Brian Meredith - UBS Meyer Shields - KBW Operator Good morning. My name is Jenny, and I will be your conference operator today. At this time, I would like to welcome everyone to James River Group Fourth Quarter 2 ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-36777 JAMES RIVER GROUP HOLDINGS, LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organiza ...