---
schema_version: "secwatch.filing_event.v1"
accession: "0001620459-23-000124"
form_type: "8-K"
ticker: "JRVR"
cik: "0001620459"
company_name: "James River Group Holdings, Inc."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T09:36:05.611124+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# James River restates Q1/Q2 2023 financials due to reinsurance premium error; Q3 net income $16.9M

## Summary
- Error in reinstatement premium accounting overstated net income by $7.8M (Q1) and $10.4M (H1 2023).
- Material weakness in internal control over financial reporting; disclosure controls ineffective in Q1/Q2.
- Q3 net income $16.9M ($0.45 diluted) vs net loss $7.2M in Q3 2022; adjusted net operating income $18.3M.
- E&S segment combined ratio 88.4%; net investment income up 52% YoY; new business submissions +8.4%.
- Dividend declared $0.05/share, payable Dec 29, 2023 to holders of record Dec 11, 2023.

## SEC filing metadata
- accession: 0001620459-23-000124
- form_type: 8-K
- ticker: JRVR
- cik: 0001620459
- company_name: James River Group Holdings, Inc.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 4.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1620459/000162045923000124/0001620459-23-000124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1620459/000162045923000124/jrvr-20231107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001620459-23-000124
- JSON: https://secwatch.observer/filing/0001620459-23-000124.json
- Plain text: https://secwatch.observer/filing/0001620459-23-000124.txt

## Key facts
- Auditor Changes
  James River Group Holdings, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Ernst & Young LLP
  source text: on November 7, 2023, the Audit Committee of the Board of Directors of the Company, after considering the recommendation of management and discussion with its independent registered public accounting firm, Ernst & Young LLP ("EY"), concluded that the Prior Financial Statements included in the Original Filing should no longer be relied upon solely as a result of the above-described error in the accounting for the Reinstatement Premium and will require restatement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1620459/000162045923000124/0001620459-23-000124-index.htm
- Earnings Releases
  James River Group Holdings, Inc. reported the quarter ended September 30, 2023 results: net income $16.9 million ($0.45 per diluted share), EPS $0.45 per diluted share.
  - Period: the quarter ended September 30, 2023
  - Net income: $16.9 million ($0.45 per diluted share)
  - EPS: $0.45 per diluted share
  - Result: reported results
  source text: James River Group Holdings, Ltd. ("James River" or the "Company") (NASDAQ: JRVR) today reported third quarter 2023 net income available to common shareholders of $16.9 million ($0.45 per diluted share)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1620459/000162045923000124/0001620459-23-000124-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.