James River Group Holdings, Inc.
Business
James River Group Holdings, Inc. is a specialty property and casualty insurance holding company operating U.S.-based insurance subsidiaries focused on underwriting small and middle-market casualty risks. The company writes primarily casualty insurance through two segments: Excess and Surplus Lines, which underwrites non-admitted E&S business; and Specialty Admitted Insurance, which writes fronting and program business. The company generates profits from underwriting and investment returns while managing catastrophe exposure through reinsurance purchases.
Summary from 10-K filed 2026-03-03
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Gross written premiums | 1,172 | 1,432 | 1,509 | 1,411 | 1,325 | |
| Ceded written premiums | −604 | −851 | −815 | −746 | −740 | |
| Net written premiums | 569 | 581 | 694 | 665 | 585 | |
| Change in net unearned premiums | 31 | 19 | 14 | −36 | −24 | |
| Net earned premiums | 600 | 600 | 708 | 630 | 561 | |
| Net investment income | 83 | 93 | 84 | 43 | 32 | |
| Net realized and unrealized gains (losses) on investments | −2 | 4 | 10 | −16 | 11 | |
| Other income | 6 | 11 | 10 | 4 | 5 | |
| Total revenues | 688 | 708 | 812 | 662 | 609 | |
| Losses and loss adjustment expenses | 427 | 554 | 500 | 441 | — | |
| Other operating expenses | 184 | 193 | 194 | 153 | 133 | |
| Other expenses | 2 | 6 | 4 | 795,000 | 3 | |
| Interest expense | 24 | 25 | 25 | 14 | 9 | |
| Amortization of intangible assets | 363,000 | 363,000 | 363,000 | 363,000 | 363,000 | |
| Impairment of intangible assets | 0 | 0 | 3 | 0 | 0 | |
| Total expenses | 637 | 779 | 725 | 608 | 717 | |
| Income (loss) from continuing operations before income taxes | 51 | −71 | 87 | 53 | −108 | |
| Current | 14 | 4 | 32 | 14 | −3 | |
| Deferred | −13 | −11 | −6 | 5 | −20 | |
| Total income tax expense (benefit) | 723,000 | −8 | 26 | 18 | −23 | |
| Net income (loss) from continuing operations | 50 | −63 | 61 | 35 | −85 | |
| Loss from discontinued operations | 0 | −14 | −88 | −4 | −88 | |
| Loss on disposal of discontinued operations | −2 | −4 | −80 | 0 | 0 | |
| Total loss from discontinued operations | −2 | −18 | −169 | −4 | −88 | |
| Net income (loss) | 47 | −81 | −108 | 31 | −173 | |
| Dividends on Series A preferred shares | −8 | −37 | −11 | −9 | 0 | |
| Net income (loss) available to common shareholders | 40 | −118 | −118 | 22 | −173 | |
| Net unrealized gains (losses), net of taxes of $9,372 in 2025, $(1,668) in 2024, and $6,384 in 2023 | 35 | −6 | 99 | −193 | −52 | |
| Total comprehensive income (loss) | 83 | −87 | −8 | −162 | −225 | |
| Continuing operations (in dollars per share) | 0.91 | −2.6 | 1.35 | 0.7 | −2.43 | |
| Discontinued operations (in dollars per share) | −0.05 | −0.46 | −4.49 | −0.11 | −2.51 | |
| Basic (in dollars per share) | 0.86 | −3.06 | −3.14 | 0.59 | −4.94 | |
| Continuing operations (in dollars per share) | 0.83 | −2.6 | 1.34 | 0.69 | −2.43 | |
| Discontinued operations (in dollars per share) | −0.04 | −0.46 | −4.47 | −0.1 | −2.51 | |
| Diluted (in dollars per share) | 0.79 | −3.06 | −3.13 | 0.59 | −4.94 | |
| Dividend declared per common share (in dollars per share) | 0.04 | 0.16 | 0.2 | 0.2 | 1.2 | |
| Basic (in shares) | 46 | 39 | 38 | 37 | 35 | |
| Diluted (in shares) | 60 | 39 | 38 | 38 | 35 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Fixed maturity securities, available-for-sale, at fair value (amortized cost: 2025 $1,448,750; 2024 $1,278,337) | 1,405 | 1,190 | 1,324 | 1,171 | 1,678 | |
| Equity securities, at fair value (cost: 2025 $66,916; 2024 $82,678) | 73 | 86 | 120 | 115 | 108 | |
| Bank loan participations, at fair value | 155 | 142 | 156 | 54 | 156 | |
| Short-term investments | 0 | 97 | 72 | 95 | 137 | |
| Other invested assets | 64 | 37 | 33 | 27 | 52 | |
| Total invested assets | 1,697 | 1,552 | 1,706 | 1,464 | 2,130 | |
| Cash and cash equivalents | 261 | 362 | 274 | 159 | 190 | |
| Restricted cash equivalents | 8 | 29 | 72 | 103 | 102 | |
| Accrued investment income | 13 | 11 | 12 | 10 | 11 | |
| Premiums receivable and agents balances, net | 154 | 244 | 249 | 240 | 394 | |
| Reinsurance recoverable on unpaid losses, net | 2,026 | 1,997 | 1,358 | 1,260 | 1,349 | |
| Reinsurance recoverable on paid losses | 118 | 101 | 158 | 114 | 82 | |
| Prepaid reinsurance premiums | 204 | 297 | 293 | 269 | 291 | |
| Deferred policy acquisition costs | 31 | 30 | 31 | 33 | 21 | |
| Intangible assets, net | 32 | 32 | 33 | 36 | 36 | |
| Goodwill | 182 | 182 | 182 | 182 | 182 | |
| Deferred tax assets, net | 65 | 61 | 48 | 49 | 26 | |
| Income taxes receivable | 0 | 22 | 224,000 | 0 | 3 | |
| Other assets | 69 | 87 | 115 | 73 | 82 | |
| Total assets | 4,860 | 5,007 | 5,317 | 5,137 | 4,949 | |
| Reserve for losses and loss adjustment expenses | 3,099 | 3,084 | 2,606 | 2,341 | — | |
| Unearned premiums | 448 | 572 | 588 | 578 | 728 | |
| Payables to reinsurers | 68 | 133 | 159 | 123 | 136 | |
| Funds held | 7 | 25 | 65 | 97 | 97 | |
| Deferred reinsurance gain | 87 | 58 | 21 | 16 | 0 | |
| Senior debt | 226 | 201 | 222 | 222 | 262 | |
| Junior subordinated debt | 104 | 104 | 104 | 104 | 104 | |
| Accrued expenses | 31 | 53 | 57 | 57 | 58 | |
| Income taxes payable | 14 | 0 | 0 | 14 | 0 | |
| Other liabilities | 105 | 183 | 175 | 135 | 90 | |
| Total liabilities | 4,189 | 4,413 | 4,638 | 4,438 | 4,223 | |
| Commitments and contingent liabilities | — | — | — | — | — | |
| Series A redeemable preferred shares 2025 and 2024: 165,000 shares authorized; 112,500 shares issued and outstanding | 133 | 133 | 145 | 145 | 0 | |
| Common stock 2025 and 2024: $0.0002 par value; 200,000,000 shares authorized; 45,968,584 and 45,644,318 shares issued and outstanding, respectively | 9,000 | 9,000 | 7,000 | 7,000 | — | |
| Preferred stock 2025 and 2024: $0.00125 par value; 19,835,000 shares authorized; no shares issued and outstanding | 0 | 0 | 0 | — | — | |
| Additional paid-in capital | 938 | 933 | 876 | 869 | 862 | |
| Retained deficit | −365 | −402 | −278 | −152 | −167 | |
| Accumulated other comprehensive loss | −35 | −70 | −64 | −163 | 30 | |
| Total shareholders equity | 538 | 461 | 535 | 554 | 725 | |
| Total liabilities, Series A redeemable preferred shares, and shareholders equity | 4,860 | 5,007 | 5,317 | 5,137 | 4,949 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Deferred policy acquisition costs | −67 | −66 | −73 | −80 | −75 | |
| Amortization of policy acquisition costs | 65 | 69 | 96 | 89 | 70 | |
| Net realized and unrealized losses on investments | 2 | 7 | 43 | 28 | −16 | |
| Distributions from equity method investments | 4 | 405,000 | 43,000 | 4 | 2 | |
| Income from equity method investments | −2 | −4 | −5 | −2 | −918,000 | |
| Loss on disposal of discontinued operations | 0 | −2 | 80 | 0 | — | |
| Deferred U.S. federal income tax benefit | −13 | −11 | −6 | 5 | — | |
| Provision for depreciation and amortization | −717,000 | −709,000 | −475,000 | 1 | — | |
| Share based compensation expense | 5 | 7 | 9 | 8 | 7 | |
| Excess tax benefits from equity incentive plan transactions | 984,000 | 740,000 | 449,000 | 530,000 | −208,000 | |
| Reserve for losses and loss adjustment expenses | 15 | 453 | 279 | 21 | 556 | |
| Unearned premiums | −124 | −24 | −71 | −52 | 97 | |
| Premiums receivable and agents balances | 90 | 15 | 23 | 53 | −47 | |
| Reinsurance balances | 11 | −553 | −66 | 96 | −602 | |
| Funds held | −18 | −67 | −108 | −61 | −763 | |
| Payable to insurance companies | 0 | −3 | 2 | −3 | 2 | |
| Other | −36 | 12 | −10 | 83 | 43 | |
| Net cash (used in) provided by operating activities | −19 | −247 | 88 | 223 | −914 | |
| Sale of JRG Re | 0 | 96 | 0 | 0 | — | |
| Purchases | −337 | −179 | −197 | −710 | −363 | |
| Sales | 15 | 200 | 35 | 207 | 136 | |
| Maturities and calls | 152 | 162 | 140 | 175 | 296 | |
| Purchases | −8 | −11 | −12 | −39 | −22 | |
| Sales and redemptions | 22 | 57 | 13 | 17 | 7 | |
| Purchases | −133 | −109 | −73 | −89 | −126 | |
| Sales | 86 | 84 | 52 | 52 | 65 | |
| Maturities | 32 | 37 | 28 | 22 | 60 | |
| Purchases | −34 | −5 | −14 | — | — | |
| Return of capital | 3 | 1 | 3 | 20 | 2 | |
| Proceeds from sales and repayments | 706,000 | 4 | 10 | 3 | — | |
| Securities receivable or payable, net | −8 | −169,000 | 3 | −7 | 2 | |
| Short-term investments, net | 97 | −25 | 36 | 29 | −6 | |
| Purchases of property and equipment | −5 | −5 | −6 | −8 | −6 | |
| Net cash (used in) provided by investing activities | −116 | 307 | 17 | −328 | 36 | |
| Senior debt issuances | 25 | 0 | 0 | 0 | 0 | |
| Senior debt repayments | 0 | −22 | 0 | −40 | 0 | |
| Enstar common stock investment (Note 13) | 0 | 13 | 0 | 0 | 192 | |
| Payroll taxes withheld and remitted on net settlement of RSUs | −745,000 | −847,000 | −2 | −1 | −3 | |
| Dividends on Series A preferred shares | −8 | −13 | −11 | −6 | 0 | |
| Dividends on common stock | −2 | −6 | −8 | −8 | −43 | |
| Payment of debt issuance costs | −1 | 0 | −1 | 0 | 0 | |
| Net cash provided by (used in) financing activities | 13 | −29 | −21 | 90 | 148 | |
| Change in cash, cash equivalents, and restricted cash equivalents | −122 | 31 | 84 | −16 | −730 | |
| U.S. federal income taxes (refunded) paid, net | −22 | 25 | 45 | — | — | |
| U.S. state income taxes paid | 289,000 | 546,000 | 367,000 | — | — | |
| Interest paid | 26 | 29 | 31 | 17 | 10 | |
| Change in restricted cash equivalents | −20 | −44 | −31 | 1 | −758 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is James River Group Holdings, Inc.'s CIK number?
James River Group Holdings, Inc.'s SEC CIK number is 0001620459 (1620459). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find James River Group Holdings, Inc.'s SEC filings?
All of James River Group Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did James River Group Holdings, Inc. last report earnings?
James River Group Holdings, Inc. (JRVR) most recently filed an earnings 8-K with the SEC on May 4, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001620459-26-000026). This is James River Group Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is James River Group Holdings, Inc.'s most recent earnings 8-K?
James River Group Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 4, 2026 under accession 0001620459-26-000026. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View James River Group Holdings, Inc.'s latest earnings 8-K →
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