James River Group Holdings, Ltd. is a Bermuda-incorporated insurer providing specialty insurance and reinsurance solutions primarily through its U.S.-based subsidiaries, focusing on excess & surplus lines and admitted insurance segments.

# Company Overview: James River Group Holdings, Ltd.

**Business Description:**  
James River Group Holdings, Ltd. ("the Company") is a Bermuda-incorporated insurer that operates primarily through its U.S.-based insurance subsidiaries. The Company provides specialty insurance and reinsurance solutions, focusing on excess & surplus lines and admitted insurance segments. Its primary goal is to add profitable scale to its insurance operations under favorable market conditions.

**Key Business Segments:**  
- **Excess & Surplus Lines Insurance:**  
  - Gross written premium exceeded $1.0 billion in 2024, marking a second consecutive year of over $1 billion.  
  - Focuses on wholesale distribution channels, with high levels of both new and renewal submissions, experiencing a 9.0% renewal rate change in 2024.

- **Specialty Admitted Insurance:**  
  - Reported a combined ratio of 92.2% in 2024, improving from 95.9% in 2023.  
  - Underwriting profit increased by 68.6% over the prior year.

**Customer and Employee Metrics:**  
- **Number of Employees:**  
  - Total number of employees is not explicitly stated in the provided excerpt, but the company's operations and management team suggest a sizable organization with specialized roles in underwriting, legal, finance, and executive leadership.

- **Number of Customers:**  
  - The company counts numerous clients across its segments, with specific customer counts not disclosed. It primarily serves wholesale brokers, retail agents, and other intermediary channels for its surplus lines; and direct clients for admitted insurance.

**Financial Highlights (2024):**  
- **Revenue:**  
  - Gross written premium in the excess & surplus lines segment exceeded **$1.0 billion**.  
- **Net Investment Income:**  
  - Increased by 10.8% compared to 2023.

- **Income:**  
  - The company's net income for 2024 is not explicitly provided in this excerpt.  
  - **Adjusted EBIT** for 2024 was approximately **$104.8 million** after adjustments, which was below the target but above the minimum threshold set by management.

**Additional Details:**  
- The company has engaged in significant strategic actions in 2024, including selling a reinsurance segment, entering into retroactive reinsurance transactions, and securing equity investments (e.g., a $12.5 million investment from Enstar).  
- The company emphasizes disciplined underwriting, strategic de-risking, and operational streamlining to enhance long-term profitability and shareholder value.

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**Note:**  
- Specific total number of employees, number of individual customers, total revenue (beyond the $1 billion premium), and net income figures are not explicitly provided in the given excerpt. The summary focuses on the detailed operational and financial highlights available.

James River Group Holdings, Ltd. is a holding company specializing in niche markets in the specialty insurance and reinsurance industry.

# James River Group Holdings, Ltd. Summary

James River Group Holdings, Ltd. is a holding company that operates primarily in the specialty insurance and reinsurance industry. The company focuses on providing a range of insurance products and services, including excess and surplus lines and specialty admitted insurance, designed to meet the needs of various customer segments.

## Business Segments

1. **Excess & Surplus Lines**
   - This segment includes operations that provide insurance coverage for high-risk exposures and specialty insurance products that are not available in the standard insurance market.
   - Key subsidiary: James River Insurance Company.

2. **Specialty Admitted Insurance**
   - This segment focuses on more traditional insurance products offered through licensed insurance companies.
   - Key subsidiary: Falls Lake National Insurance Company.

3. **Reinsurance Operations**
   - The company also engages in reinsurance activities through its former subsidiary, JRG Reinsurance Company Ltd. (now sold as of April 16, 2024).

## Key Metrics

- **Number of Customers**: James River Group serves a diverse set of customers, primarily including brokers in the property and casualty insurance sector, but exact customer numbers are typically not disclosed.

- **Number of Employees**: The company employs approximately 300 individuals as of the last reporting.

- **Revenue**: In 2023, James River Group reported revenues of approximately **$1 billion**.

- **Income**: The net income for 2023 was approximately **$116.8 million**, reflecting the company's profitable operations despite a complex market environment.

## Market Position and Strategies

- James River Group focuses on niche markets and specializes in underwriting for complex risks, which allows it to address the unique needs of its clients. The company employs advanced data analytics and technology to enhance its underwriting processes and operational efficiency.

- The company also emphasizes compliance and regulatory adherence, ensuring that its offerings align with the significant legal and financial standards required in the insurance industry.

## Recent Developments

As part of its strategic initiatives, James River Group has been involved in various transactions, including the recent divestiture of JRG Re. This decision was aimed at refining its operations and focusing more on its core excess and surplus lines and specialty admitted insurance segments.

## Conclusion

James River Group Holdings, Ltd. continues to solidify its position in the specialty insurance sector through its tailored insurance solutions, a strong focus on underwriting discipline, and other strategic advancements, driving sustainable growth in its operations.

James River Group Holdings, Ltd.

10-K / April 29, 2025

10-K / April 26, 2024

10-K / April 29, 2025

Company Overview: James River Group Holdings, Ltd.