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James River (JRVR) - 2021 Q1 - Earnings Call Transcript
2021-05-09 04:29
James River Group Holdings Ltd (NASDAQ:JRVR) Q1 2021 Earnings Conference Call May 6, 2021 8:00 AM ET Company Participants Sarah Doran - CFO Frank D’Orazio - CEO & Director Conference Call Participants Operator Welcome to the James River Group Q1 2021 Earnings Call. My name is John, and I'll your operator for today's call. [Operator Instructions]. Please note the conference is being recorded. And I will now turn the call over to Sarah Doran, Chief Financial Officer. Sarah, you may begin. Sarah Doran Thank yo ...
James River (JRVR) - 2021 Q1 - Quarterly Report
2021-05-05 20:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2021 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 as specified in its charter) Indicate by check mark whether t ...
James River (JRVR) - 2020 Q4 - Annual Report
2021-02-26 21:01
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, 2020 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 ...
James River (JRVR) - 2020 Q4 - Earnings Call Transcript
2021-02-26 15:51
James River Group Holdings, Ltd. (NASDAQ:JRVR) Q4 2020 Earnings Conference Call February 26, 2021 8:00 AM ET Company Participants Kevin Copeland - Head, IR Frank D'Orazio - CEO Sarah Doran - CFO Bob Myron - President & COO Conference Call Participants Matt Carletti - JMP Mark Hughes - Truist Randy Binner - B. Riley Meyer Shields - KBW Operator Ladies and gentlemen, thank you for standing by, and welcome to the James River Group Fourth Quarter 2020 Earnings Conference Call. At this time, all participants are ...
James River (JRVR) - 2020 Q3 - Earnings Call Transcript
2020-10-31 09:15
James River Group Holdings, Ltd. (NASDAQ:JRVR) Q3 2020 Results Earnings Conference Call October 29, 2020 8:00 AM ET Company Participants Kevin Copeland - Senior Vice President, Finance, & Chief Investment Officer J. Adam Abram - Chief Executive Officer and Executive Chairman Sarah Doran - Chief Financial Officer Robert Myron - President and Chief Operating Officer Conference Call Participants Mark Hughes - Truist Securities Matthew Carletti - JMP Randy Binner - B. Riley Sean Reitenbach - KWB Operator Thank ...
James River (JRVR) - 2020 Q3 - Quarterly Report
2020-10-29 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2020 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 as specified in its charter) Bermuda 98-0585280 (State or ...
James River (JRVR) - 2020 Q2 - Earnings Call Presentation
2020-08-12 18:06
JAMES RIVER GROUP HOLDINGS, LTD. Second Quarter 2020 Investor Presentation Disclosure Forward-Looking Statements This presentation contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, such forward-looking statements may be identified by terms such as believe, expect, seek, may, will, intend, project, anticipate, plan, estimate, guidance or similar words. Forward-looking statements involve risks and uncertainties that could cause ...
James River (JRVR) - 2020 Q2 - Earnings Call Transcript
2020-08-02 05:05
James River Group Holdings Ltd (NASDAQ:JRVR) Q2 2020 Earnings Conference Call July 30, 2020 8:00 AM ET Company Participants Kevin Copeland - SVP, Finance & CIO Jonathan Abram - Chairman & CEO Sarah Doran - CFO Robert Myron - President, COO & Director Conference Call Participants Matthew Carletti - JMP Securities Mark Hughes - SunTrust Robinson Humphrey Ronald Bobman - Capital Returns Management Sean Reitenbach - KBW Randolph Binner - B. Riley FBR Operator Good morning, ladies and gentlemen, and welcome to t ...
James River (JRVR) - 2020 Q2 - Quarterly Report
2020-07-31 20:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2020 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 as specified in its charter) Bermuda 98-0585280 (State or othe ...
James River (JRVR) - 2020 Q1 - Earnings Call Transcript
2020-05-03 13:38
Financial Data and Key Metrics Changes - The company reported first quarter operating earnings of $0.50 per share and an annualized adjusted net operating return on average tangible equity of 11.6% [35] - The group combined ratio was 100.6%, with a 91.9% combined ratio in the E&S segment, a 107.4% combined ratio in Specialty Admitted, and a 99.4% combined ratio in the Reinsurance segment [16][41] - The expense ratio increased to 34.2% compared to 22.6% in the first quarter of the previous year [45] Business Line Data and Key Metrics Changes - The E&S division grew 37% in core lines, with a rate increase of 12.9% in the most recent quarter, marking the second highest sequential period [10] - The Specialty Admitted segment reported stable gross written premiums compared to the first quarter of last year, despite a reduction in the largest fronting program [13] - The Reinsurance segment wrote more gross written premium than in the first quarter of last year, but net written and earned premium declined as expected [15] Market Data and Key Metrics Changes - Submissions in the E&S segment grew by 20% in the first quarter, with April submissions exceeding those from April 2019 [11] - The company noted a significant decline in claims, with 30% fewer claims received in April compared to the previous year [30] Company Strategy and Development Direction - The company is focused on reducing expenses and expects the full-year expense ratio to fall into the low 30% range [33] - The management anticipates a significant decline in workers' compensation and general liability accounts due to the economic impact of COVID-19 [31] - The company believes it is well-positioned to benefit from a recovery, similar to the experience following the 2008 financial crisis [32] Management's Comments on Operating Environment and Future Outlook - Management expressed that while the insurance industry is exposed to economic consequences from COVID-19, the company is better positioned than many property casualty insurers [19] - The company expects to maintain a positive rate structure despite a weak economy, aiming for a high single-digit to low double-digit return on tangible equity [54] - Management acknowledged the potential for claims related to COVID-19 but emphasized the strength of their policy exclusions [20][22] Other Important Information - The company experienced unrealized losses of $43.9 million in its investment portfolio for the quarter, but the portfolio had recovered $6.4 million since quarter-end [38] - The company drew down most of its unsecured bank facility capacity as a precautionary measure due to market volatility [46] Q&A Session Summary Question: Can you provide more detail on premium growth in April? - Management noted that submissions and premiums in April exceeded those of the previous year, but they do not anticipate this trend continuing throughout the year [53] Question: What is the anticipated ceded premium ratio in the E&S book? - The ceded premium ratio is expected to remain between 20% to 30%, consistent with previous quarters [58] Question: How is the commercial auto runoff book performing? - The company has reduced outstanding claims from the commercial auto account by 25% and is committed to settling claims at fair value [64][68] Question: What is the impact of lower short-term rates on investment income? - Investment income is expected to decline due to lower short-term rates, with current returns significantly lower than at the beginning of the year [109] Question: How will pricing be affected for businesses that have been closed? - Pricing will be based on expected revenues, and while there may be lower revenue numbers, it is not expected to impact the price per unit of exposure significantly [115]