James River

Q4 reserve charge of $85mn-$90mn pushes James River to 2020 UW loss

James River Group Holdings has revealed it will likely report a full-year combined ratio of between 105 percent and 107 percent on the back of unfavourable development in its commercial auto and casualty reinsurance segments.

James River leads US P&C stock rally

Almost all US-listed property casualty stocks posted strong gains in trading Wednesday (6 January), as the industry’s shares outperformed the gains of the wider markets.

James River beats Q3 Wall Street estimates after “very strong quarter”

James River Group’s outgoing CEO has called the company’s results for 2020’s third quarter “very strong” after the business’ operating profit per share comfortably beat the average of analysts’ estimates.

D’Orazio named new James River Group CEO

Former Allied World executive Frank D’Orazio has been named CEO of James River Group Holdings, with the specialty (re)insurer’s founder J Adam Abram retiring from the position but continuing as non-executive chairman.

James River's Uber run-off “proceeding well” as additional claims close

The run-off of James River’s cancelled book of Uber insurance policies is “proceeding well” with the carrier closing further claims from the account during the second quarter, according to the company’s chairman and CEO.

James River beats in Q2 as E&S renewal pricing increases 20%

James River has ended the first quarter by comfortably beating Wall Street estimates with the carrier benefitting from core E&S renewal pricing that increased by 20 percent year on year and an overall improvement in its underwriting profitability.

James River CEO says pricing possibly best he has ever seen

Specialty insurer James River’s CEO Adam Abram has said current pricing is possibly the best he has seen since he joined the industry, a period that includes what is widely acknowledged to be the last true hard market in the early 2000s.

James River anticipates “raft” of general liability Covid-19 claims

James River chairman and CEO J Adam Abram has highlighted general liability as a source of Covid-19 claims, which he believes will not progress far, while revealing the Bermudian (re)insurer has received 200 total claims related to the pandemic.

James River Q1 GWP plummets due to Uber cancellation

James River has reported a first quarter operating profit that beat analyst expectations but included a 27 percent drop in E&S gross written premium (GWP) and a deterioration in its combined ratio to 100.6 percent.

AIG shares close day up 10%

AIG’s share price increased by almost 10 percent during Thursday even though a further 6.6 million people were added to the US’ unemployment numbers as the coronavirus outbreak bites.

James River says open to ADC for Uber run-off book, while shares rise over 6%

Investors have sent James River’s share price up over 6 percent, following strong Q4 E&S premium growth and management’s comments that it is open to buying an adverse development cover (ADC) for its cancelled Uber book.

James River reports 6.6% Q4 E&S rate increases and surge in submissions

James River has reported 41 percent growth of E&S premium in the fourth quarter while revealing renewal rate increases of 6.6 percent.

Farmers is biggest beneficiary of James River’s Uber withdrawal

Farmers has substantially increased its Uber exposure after the US personal lines giant picked up the bulk of the states that James River Group Holdings quit at the end of 2019.

Liberty Mutual picks up Uber business dropped by James River

Liberty Mutual is the latest addition to Uber’s panel of insurers with the Boston-based carrier entering some of the states vacated by James River Group Holdings after it ended its relationship with the ride sharing company at the close of 2019 owing to heavy losses.

James River tipped for ADC as Uber collateral disagreement revealed

Analysts believe James River may look to purchase an adverse development cover (ADC) for the cancelled Uber book, while its CEO revealed on an earnings call that Uber had asked for the return of $1.2bn the insurer had drawn from a trust account to pay claims.

James River falls to operating loss on Uber reserve charge

James River fell to a third quarter operating loss of $22.2mn that reversed the $19.4mn profit reported in the prior-year period, on the back of its preannounced E&S $50mn reserve charge.

James River shares plummet 22% after Uber policies cancelled

The share price of James River was down greatly in early morning trading after the US specialty insurer announced it had cancelled the contracts of its largest customer, Uber, and would take a reserve charge.

Uber exit to have “short-lived” negative effect on James River 2020 profitability: JMP

James Rivers’ decision to cancel contracts with its largest customer Uber is set to cause a reduction in 2020 earnings per share, but the dip will be temporary as the carrier turns its focus to core and “much more profitable” E&S business, according to a JMP Securities analyst.

James River cancels largest customer Uber over losses

Specialty insurer James River Group Holdings has given notice of early cancellation of all insurance policies issued to its largest customer Rasier LLC and its affiliates – part of Uber Technologies – after the account underperformed on profitability.

James River CEO Myron steps down because of ill health

Bermuda-based specialty (re)insurer James River has announced ill health has forced Robert Myron to step down as CEO and take the position of president and chief operating officer.

Region

Topics

Events & Conferences

Content Types