earnings
confidence high
sentiment positive
materiality 0.75
James River Q2 EPS $0.60 ($0.54 adj); combined ratio 89.7%; $0.30 dividend; COO retired
James River Group Holdings, Inc.
2021-Q2 EPS reported
-$2.54
revenue$374,547,000
- Q2 net income $20.8M ($0.60/diluted) vs $35.6M ($1.16) prior year; adjusted net operating income $18.8M ($0.54) vs $17.4M ($0.56).
- Combined ratio improved to 89.7% (group) and 77.2% in E&S segment; record quarterly underwriting profit of $25.7M.
- E&S gross written premium (excl Commercial Auto) grew 15.1%; renewal pricing up 18.1% YoY. Fronting GWP up 59%.
- Tangible book value per share $17.18, up 25.4% from March 31, reflecting results and $192.1M net proceeds from share offering.
- COO Robert Myron retired July 31; separation agreement includes consulting through Dec 31 at $29,167/month.