First Quarter 2025
Q1 2025 Investor Presentation May 2025
A Niche Specialty Insurer with a Diversified E&S Platform
James River is well positioned for sustainable profitability and capital discipline
$1.4 Billion
Gross Written Premium(1)
Strong Start to 2025 with an Excess & Surplus ("E&S")
Market Poised for Profitable Growth
-
Adjusted Net Operating Income(2):
$9.1 Million $484 Million Total Shareholders' Equity
-
Annualized Adjusted Net Operating Retuon Tangible Common Equity(2): 11.5%
-
E&S segment Performance: 91.5% Combined Ratio| 7.8% Renewal Rate Change
-
Stable Prior Year Reserves
$5.0 Billion Total Assets
Strides Taken to Refocus Business
-
Validated, Well-Capitalized, and Strong Balance Sheet
-
Expense Management Focus Including Redomicile to
U.S. "A-" (Excellent)
A.M. Best Rating
-
Technology Implementation for Underwriting Efficiency
-
Sale of Sub Scale Businesses, Including JRG Re and Individual Risk
Workers' Compensation Renewal Rights
-
Capital-Light Fronting Business with Limited Net Retention
-
Gross Written Premiums reflect LTM information as of
March 31, 2025 . All other information as ofMarch 31, 2025 unless otherwise noted. -
Adjusted net operating income and adjusted net operating retuon tangible common equity are non-GAAP financial measures. See "Non-GAAP Financial Measures" and "Reconciliation of Non-GAAP Measure" on the
Disclosure page.
Enterprise Refocus and Balance Sheet Rebuild
James River has refocused the Company around its core strengths; risk management, performance
monitoring, and underwriting
Raiser / Uber Unlimited Loss Portfolio Transfer ("LPT")
Renewal Rights of
Workers' Comp Sale
Completion of Strategic Review; Finalized Core E&S LPT / ADC for an aggregate
E&S segment leadership transition.
Company Milestones
Nov /
Aug /
Hired New, Senior Claims, ERM, Underwriting and Actuarial leaders
Casualty Re LPT Purchase
Sale of Casualty Re
Non-Executive Chairman of the Board
James River's Focus is the Excess & Surplus Lines Market
We are one of the largest and most concentrated public companies in E&S exposure
Most Concentrated E&S Companies(1)- 2024 Direct Written Premium
76%
(2)
100%
85%
42%
29% 25% 24%
16%
9% 8%
Significant focus on small and medium sized accounts which have historically been
more profitable
-
Statutory E&S direct written premium as defined and calculated by
S&P Global Market Intelligence . Represents statutory E&S direct written premium divided by GAAP consolidated gross written premium for 2024. -
GAAP E&S segment GWP of
$1.0 Bn . 18% of Specialty Admitted segment business was non-admitted in 2024.
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