Reinsurance News
James River Group
James River Group hires David Gelinne as Group Chief Actuary
3rd August 2021
James River Group Holdings, the Bermuda-based insurance holdings company, has appointed David Gelinne as Group Chief Actuary. Gelinne brings over 40 years of experience with a deep and broad focus on non-life casualty risks. Most recently, he served as Chief Actuary at Allied World Assurance Company, AG. Prior to his five years at ... Read the full article
James River COO Robert Myron to retire in July
23rd June 2021
James River Group has announced the retirement of its President and Chief Operating Officer Robert Myron, after more than 11 years service. Myron is set to retire on July 31 for health reasons related to the effects of Lyme Disease. James River and Myron are expected to maintain a consulting relationship through ... Read the full article
AM Best downgrades credit ratings of James River Group
10th May 2021
AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a-” from “a” of the rated operating subsidiaries of James River Group (JRG). AM Best has also downgraded the Long-Term ICR to “bbb-” from “bbb” of JRG. ... Read the full article
James River Group reports net loss of $103.5mn
6th May 2021
James River Group Holdings has reported a Q1 2021 net loss of $103.5 million compared to net loss of $36.8 million ($1.21 per diluted share) for the prior year period. It also reported a combined ratio of 199.2% versus 100.6% in the prior year quarter. The group suffered from an underwriting loss ... Read the full article
AM Best revises outlooks to negative for James River Group
5th March 2021
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the rated operating subsidiaries of James River Group. The ratings agency has also revised the outlook to negative from stable ... Read the full article
James River posts $20.3mn Q4 net loss
26th February 2021
James River Group has reported a fourth quarter 2020 net loss of $20.3 million, compared to net income of $20.5 million for the prior year period. Adjusted net operating loss was $29 million , against an adjusted net operating income of $23.3 million for the same period in 2019. Gross written premium ... Read the full article
James River expecting $5mn net income for 2020
17th February 2021
Bermuda-based insurance holdings company James River Group expects to report full year 2020 net income of between $4 million and $5 million. Full year 2020 adjusted net operating income is expected to fall between $18 million and $22 million. The combined ratio for the full year is expected to be between 105% ... Read the full article
James River reshuffles senior positions
29th October 2020
James River Group has announced that Frank D’Orazio has been named Chief Executive Officer, effective from November 2nd. D’Orazio most recently served as Chief Operating Officer and Chief of Staff at Allied World Assurance Company, Ltd. He also had prior responsibilities at the same firm as President, Underwriting and Global Risk and ... Read the full article
James River returns to profitability in Q3, but revenues sink
29th October 2020
James River Group Holdings, the Bermuda-based insurance holdings company, has posted a net income $26.3 million for the third quarter of 2020, compared with a net loss of $25.2 million for the same period last year. Adjusted net operating income similarly improved to $17.4 million, compared to a loss of $22.2 ... Read the full article
James River returns to profitability in Q2
30th July 2020
James River Group Holdings, the Bermuda-based insurance holdings company, has returned to profitability in the second quarter of 2020 after its investments recovered from an earlier COVID-19 shock. The company posted a net income of $35.6 million in Q2 after a loss of $36.8 million in the first quarter of ... Read the full article
Market volatility pushes James River to Q1 loss
30th April 2020
James River Group Holdings, the Bermuda-based insurance holdings company, has posted a loss of $36.8 million for the first quarter of 2020 due to investment market volatility caused by the COVID-19 pandemic. Income was down from $22.7 million in Q1 2019, with results weighed down in particular by a portfolio of ... Read the full article
James River post $20.5mn net income amid robust Q4 results
21st February 2020
James River Group Holdings, the Bermuda-based insurance holdings company, has posted a fourth quarter 2019 net income of $20.5 million, up from $11.6 million in the prior year quarter. The firm’s gross written premiums reached $375 million in Q4, representing a 27% increase from the same period in 2018. Excess and surplus ... Read the full article
James River Group’s Q3 result hit by unfavourable reserve development
8th November 2019
James River Group Holdings, Ltd. recently announced a net loss of $25.2 million for the third-quarter of 2019 and an operating loss of $22.2 million, compared with net income of $19.6 million and an operating gain of $19.4 million in 2018. During the quarter, James River experienced unfavourable reserve development of ... Read the full article
James River to cut short policies for Uber subsidiary Rasier
9th October 2019
James River Group Holdings, the Bermuda-based insurance holdings company, has announced the early cancellation of all insurance policies issued to its largest customer, Rasier LLC, and its affiliates. Founded in 2013, Rasier is a wholly owned subsidiary of Uber Technologies, the popular ridesharing company. The cancellation will be effective from December 31, ... Read the full article
James River announces 20% jump in net income, management shift
1st August 2019
James River Group Holdings, Ltd.'s second-quarter 2019 net income increased by 20% to $20.3 million when compared with the second-quarter of 2018, while its Group combined ratio improved to 95.2%. Adjusted net operating income improved from $17.6 million in Q2 2018 to $20.2 million in Q2 2019, while the year-to-date 2019 ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
