James River Group Holdings Inc · Q4 2021 earnings

Briefing

James River reported a net loss for Q4 2021, driven by strategic actions to strengthen the balance sheet and address legacy commercial auto portfolio.

James River Group Holdings reported a net loss of $66.3 million for the fourth quarter of 2021, compared to a net loss of $20.3 million for the same period in 2020. The adjusted net operating loss was $67.5 million, compared to an adjusted net operating loss of $29.0 million in the prior year. The E&S segment reported an 82.1% combined ratio, and the Specialty Admitted unit grew fee income by 27.1% with an 84.7% combined ratio.

• Reported a net loss of $66.3 million, or $1.78 per diluted share, for Q4 2021.
• Adjusted net operating loss was $67.5 million, or $1.81 per diluted share.
• E&S segment achieved an 82.1% combined ratio.
• Specialty Admitted unit increased fee income by 27.1% and delivered an 84.7% combined ratio.

Headline financials

Revenue & EPS history

Company believes it has unburdened the organization’s earnings potential, which should allow it to produce attractive future returns for shareholders. Company believes insurance franchises are well positioned to perform and continue to benefit from the industry’s macro tailwinds in 2022.