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 | $74M | $47M | $-24M | 7.1% | -2.8% | - |
| 2024 | $708M | $-46M | $-81M | $-252M | -13.7% | -12.9% | - |
| 2023 | $812M | $112M | $-108M | $82M | -15.8% | 22.8% | -447.7% |
| 2022 | $662M | $67M | $31M | $215M | 4.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 661.51 | 812.01 | 707.63 | 687.61 |
| EBIT | 67.14 | 111.54 | -46.45 | 74.08 |
| Pretax Income | 53.27 | 86.91 | -71.12 | 50.54 |
| Tax Provision | 18.41 | 25.70 | -7.63 | 0.72 |
| Net Income | 30.97 | -107.68 | -81.12 | 47.43 |
| Net Income Common Stockholders | 22.22 | -118.18 | -118.27 | 39.55 |
| Total Expenses | 608.24 | 725.10 | 778.75 | 637.07 |
| Interest Expense | 13.87 | 24.63 | 24.67 | 23.54 |
| Normalized Income | 34.86 | 62.97 | -63.49 | 49.82 |
| Basic EPS | 0.59 | -3.14 | -3.06 | 0 |
| Diluted EPS | 0.59 | -3.14 | -3.06 | 0 |
| Tax Effect Of Unusual Items | 0 | -0.74 | 0 | 0 |
| Tax Rate For Calcs | 0.35 | 0.30 | 0.11 | 0.01 |
| Total Unusual Items | 0 | -2.50 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | -2.50 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 34.86 | 61.21 | -63.49 | 49.82 |
| Reconciled Depreciation | 1.05 | -0.47 | -0.71 | -0.72 |
| Net Interest Income | -13.87 | -24.63 | -24.67 | -23.54 |
| Net Income From Continuing And Discontinued Operation | 30.97 | -107.68 | -81.12 | 47.43 |
| Diluted Average Shares | 37.65 | 37.81 | 38.69 | 0 |
| Basic Average Shares | 37.44 | 37.62 | 38.69 | 0 |
| Diluted NI Availto Com Stockholders | 22.22 | -118.18 | -118.27 | 39.55 |
| Preferred Stock Dividends | 8.75 | 10.50 | 37.15 | 7.88 |
| Net Income Including Noncontrolling Interests | 30.97 | -107.68 | -81.12 | 47.43 |
| Net Income Discontinuous Operations | -3.88 | -168.89 | -17.63 | -2.39 |
| Net Income Continuous Operations | 34.86 | 61.21 | -63.49 | 49.82 |
| Other Income Expense | 4.31 | 9.52 | 10.72 | 6.08 |
| Special Income Charges | 0 | -2.50 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 2.50 | 0 | 0 |
| Net Non Operating Interest Income Expense | -13.87 | -24.63 | -24.67 | -23.54 |
| Interest Expense Non Operating | 13.87 | 24.63 | 24.67 | 23.54 |
| Other Operating Expenses | 32.05 | 37.73 | 41.12 | 35.49 |
| Depreciation And Amortization In Income Statement | 0.36 | 0.36 | 0.36 | 0.36 |
| Amortization | 0.36 | 0.36 | 0.36 | 0.36 |
| Operating Revenue | 661.51 | 812.01 | 707.63 | 687.61 |
| 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 | $286M | 7.49↓ discount | 0.53 | 7.1% | 6.65 |
| John Marshall Bancorp, Inc. | JMSB | $297M | 14.01 | 1.11 | 8.0% | - |
| Western New England Bancorp, Inc. | WNEB | $283M | 15.90 | 1.14 | 6.2% | - |
| FVCBankcorp, Inc. | FVCB | $280M | 12.16 | 1.10 | 8.7% | - |
| Oak Valley Bancorp |
| OVLY |
| $279M |
| 11.51 |
| 1.32 |
| 11.5% |
| - |
| First Community Corporation | FCCO | $278M | 11.62 | 1.36 | 11.5% | - |
| Citizens, Inc. | CIA | $278M | 19.75 | 1.18 | 6.2% | 14.50 |
| First Western Financial, Inc. | MYFW | $270M | 18.01 | 0.99 | 5.0% | - |
| NI Holdings, Inc. | NODK | $267M | - | 1.11 | -4.3% | -18.82 |
| Peer Median | - | 14.01 | 1.13 | 7.1% | -2.16 | |