James River Group (JRVR) Tops Q1 EPS by 11c

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James River Announces First Quarter 2022 Results

May 9, 2022 4:06 PM EDT

First quarter 2022 net income available to common shareholders of $9.3 million ($0.25 per diluted share). Adjusted net operating income1 of $13.9 million ($0.37 per diluted share).The Group combined ratio of 97.4% was elevated by 6.1 percentage points associated with the previously announced Casualty Reinsurance loss portfolio transfer ("Retrocession Transaction"). The Company's largest segment, Excess and Surplus Lines ("E&S"), produced a combined ratio of 83.7%.Growth in E&S gross written premium of 12.6% and an increase in E&S renewal pricing of 8.4%.Group expense ratio improved to 26.0% from 28.9% in the first quarter of 2021.Net... More