Loading…
James River Group Holdings, Inc. provides specialty insurance services. It operates in Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment offers commercial excess and surplus lines liability and excess property insurance products in the United States, Puerto Rico, and the United States Virgin Islands. This segment distributes its insurance policies primarily through wholesale insurance brokers. The Specialty Admitted Insurance segment provides insurance for fronting, program administrators, and managing general agents. The company was founded in 2002 and is based in Chapel Hill, North Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $688M | - | $47M | $-24M | 8.8% | -2.8% | -158.5% |
| 2024 | $708M | - | $-81M | $-252M | -17.6% | -12.9% | -24.7% |
| 2023 | $812M | - | $-108M | $82M | -20.1% | 22.8% | -447.7% |
| 2022 | $662M | - | $31M | $215M | 5.6% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 661.51 | 812.01 | 707.63 | 687.61 |
| Operating Revenue | - | 661.51 | 812.01 | 707.63 | 687.61 |
| Total Expenses | - | 608.24 | 725.10 | 778.75 | 637.07 |
| EBIT | - | 67.14 | 111.54 | -46.45 | 74.08 |
| Interest Expense | - | 13.87 | 24.63 | 24.67 | 23.54 |
| Net Interest Income | - | -13.87 | -24.63 | -24.67 | -23.54 |
| Other Income Expense | - | 4.31 | 9.52 | 10.72 | 6.08 |
| Interest Expense Non Operating | - | 13.87 | 24.63 | 24.67 | 23.54 |
| Net Non Operating Interest Income Expense | - | -13.87 | -24.63 | -24.67 | -23.54 |
| Pretax Income | - | 53.27 | 86.91 | -71.12 | 50.54 |
| Tax Provision | - | 18.41 | 25.70 | -7.63 | 0.72 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | -0.74 | 0 | 0 |
| Net Income Continuous Operations | - | 34.86 | 61.21 | -63.49 | 49.82 |
| Net Income From Continuing And Discontinued Operation | - | 30.97 | -107.68 | -81.12 | 47.43 |
| Net Income From Continuing Operation Net Minority Interest | - | 34.86 | 61.21 | -63.49 | 49.82 |
| Net Income | - | 30.97 | -107.68 | -81.12 | 47.43 |
| Net Income Common Stockholders | - | 22.22 | -118.18 | -118.27 | 39.55 |
| Net Income Including Noncontrolling Interests | - | 30.97 | -107.68 | -81.12 | 47.43 |
| Normalized Income | - | 34.86 | 62.97 | -63.49 | 49.82 |
| Diluted NI Availto Com Stockholders | - | 22.22 | -118.18 | -118.27 | 39.55 |
| Basic Average Shares | - | 37.44 | 37.62 | 38.69 | 45.97 |
| Diluted Average Shares | - | 37.65 | 37.81 | 38.69 | 60.01 |
| Reconciled Depreciation | - | 1.05 | -0.48 | -0.71 | -0.72 |
| Total Unusual Items | - | 0 | -2.50 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0 | -2.50 | 0 | 0 |
| Preferred Stock Dividends | - | 8.75 | 10.50 | 37.15 | 7.88 |
| Net Income Discontinuous Operations | - | -3.88 | -168.89 | -17.63 | -2.39 |
| Special Income Charges | - | 0 | -2.50 | 0 | 0 |
| Impairment Of Capital Assets | - | 0 | 2.50 | 0 | 0 |
| Depreciation And Amortization In Income Statement | - | 0.36 | 0.36 | 0.36 | 0.36 |
| Other Operating Expenses | - | 32.06 | 37.73 | 41.12 | 35.49 |
| Amortization | - | 0.36 | 0.36 | 0.36 | 0.36 |
| Loss Adjustment Expense | - | 440.64 | 500.16 | 554.37 | 427.20 |
| Net Policyholder Benefits And Claims | - | 440.64 | 500.16 | 554.37 | 427.20 |
| Policyholder Benefits Gross | - | 938.74 | 1,206.56 | 1,344.43 | 946.73 |
| Policyholder Benefits Ceded | - | 498.10 | 706.41 | 790.05 | 519.53 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| James River Group Holdings, Inc.this co. | JRVR | $183M | 4.63↓ discount | 0.27 | 5.9% | - |
| CF Bankshares Inc. | CFBK | $187M | 10.68 | 1.02 | 9.5% | - |
| Rhinebeck Bancorp, Inc. | RBKB | $181M | 18.05 | 1.32 | 7.3% | - |
| Eagle Bancorp Montana, Inc. | EBMT | $181M | 12.18 | 0.94 | 7.7% | - |
| Finance of America Companies Inc. |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| FOA |
| $179M |
| 3.98 |
| 0.55 |
| 13.9% |
| - |
| SelectQuote, Inc. | SLQT | $176M | 3.69 | 0.50 | 13.5% | 3.77 |
| Landmark Bancorp, Inc. | LARK | $175M | 9.30 | 1.09 | 11.7% | - |
| BV Financial, Inc. | BVFL | $174M | 12.90 | 0.95 | 7.3% | - |
| CB Financial Services, Inc. | CBFV | $174M | 35.48 | 1.10 | 3.1% | - |
| Peer Median | - | 11.43 | 0.98 | 8.6% | 3.77 | |