James River Group Holdings Inc
jrvrgroup.comWhat Do They Do?
Underwrites commercial liability and property insurance for small and middle-market businesses that may not get coverage from standard insurers, mainly through wholesale brokers; also writes specialty insurance for program administrators and managing general agents.
10-K for FY2025, filed Mar 3, 2026The Excess and Surplus Lines segment sells E&S commercial lines liability and property insurance in every U.S. state and the District of…View ↗
The E&S industry focuses on providing insurance coverage to policyholders that may be unable to purchase insurance from standard lines…View ↗
Our Excess and Surplus Lines segment underwrites coverage for a wide range of commercial businesses and does not write personal lines…View ↗
The Specialty Admitted Insurance segment has admitted licenses and the authority to write excess and surplus lines insurance in 50 states…View ↗
How Do They Make Money?
-
10-K for FY2025, filed Mar 3, 2026
FY2025 revenue by reportable segment ↗
$687.6M
-
10-K for FY2025, filed Mar 3, 2026
$687.6M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Excess and Surplus Lines
|
91%
FY2022: 86%
|
Excess and Surplus Lines, FY2025
$625.5M Sources
|
|
Specialty Admitted Insurance
|
8.8%
FY2022: 12%
|
Specialty Admitted Insurance, FY2025
$60.3M Sources
|
Who Are Their Customers?
Small and middle-market commercial businesses obtain coverage through wholesale brokers engaged by retail agents. Specialty admitted business is distributed through program administrators and managing general agents, and serves clients including MGAs and reinsurers.
10-K for FY2025, filed Mar 3, 2026Our Excess and Surplus Lines segment underwrites coverage for a wide range of commercial businesses and does not write personal lines…View ↗
The Specialty Admitted Insurance segment has admitted licenses and the authority to write excess and surplus lines insurance in 50 states…View ↗
The Specialty Admitted Insurance segment focuses on niche classes within the standard insurance markets through its fronting business…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 7 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$23.6M.
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
Growing. Revenue grew 13% in 4 years, from $609M in FY2021 to $687.6M in FY2025, about 3% a year.
Casualty reinsurance exit
The older report included casualty reinsurance to third parties; the latest describes the sale of that business and continuing operations centered on U.S. insurance.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Mar 3, 2026The Casualty Reinsurance segment distributes through reinsurance brokers and produced 5.7% of our gross written premiums and 11.1% of our…View ↗
Loading...
