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JRVR

James River Group Holdings, Ltd.

JRVR

James River Group Holdings, Ltd. • NASDAQ
$5.89 ▲ 0.00% (+0.00)
Market Cap $270.74 M
52w High $6.27
52w Low $3.00
Dividend Yield 0.04%
P/E -2.75
Volume 82.95K
Outstanding Shares 45.97M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $172.735M ▼ $33.793M ▼ $1.021M ▼ 0.591% ▼ $0.022 ▼ $8.966M ▼
Q2-2025 $174.843M ▲ $36.979M ▼ $4.759M ▼ 2.722% ▼ $0.061 ▼ $13.223M ▼
Q1-2025 $172.289M ▲ $39.215M ▲ $9.574M ▲ 5.557% ▲ $0.17 ▲ $21.641M ▲
Q4-2024 $126.713M ▼ $38.688M ▼ $-64.767M ▼ -51.113% ▼ $-2.25 ▼ $-66.478M ▼
Q3-2024 $191.497M $178.26M $-39.381M -20.565% $-1.11 $-45.773M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $926.153M ▲ $4.95B ▼ $4.314B ▼ $636.753M ▲
Q2-2025 $916.772M ▲ $5.018B ▲ $4.393B ▲ $625.673M ▲
Q1-2025 $901.934M ▼ $4.949B ▼ $4.331B ▼ $617.595M ▲
Q4-2024 $979.454M ▲ $5.007B ▲ $4.413B ▲ $594.03M ▼
Q3-2024 $950.153M $4.959B $4.283B $675.245M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.593M ▲ $34.32M ▲ $-12.719M ▲ $-2.581M ▲ $19.02M ▲ $33.657M ▲
Q2-2025 $0 $25.157M ▲ $-80.669M ▼ $-3.565M ▼ $-59.077M ▲ $24.698M ▲
Q1-2025 $0 ▲ $-51.467M ▼ $-53.03M ▼ $21.886M ▲ $-82.611M ▼ $-52.685M ▼
Q4-2024 $-63.395M ▼ $7.465M ▲ $-14.34M ▲ $9.788M ▲ $2.913M ▲ $4.732M ▲
Q3-2024 $-31.133M $-269.947M $-35.256M $-7.146M $-312.349M $-270.777M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Excess And Surplus Lines
Excess And Surplus Lines
 $260.00M ▲$150.00M ▼$160.00M ▲$160.00M ▲
Specialty Admitted Insurance
Specialty Admitted Insurance
 $50.00M ▲$20.00M ▼$20.00M ▲$10.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has been relatively steady over the past several years, without dramatic growth or collapse, which suggests a stable core franchise. The real story is on the profit side: results have been quite volatile, swinging between profit and loss several times. Recent years show net losses again after a brief return to profitability, pointing to ongoing challenges in underwriting quality, reserving, or pricing discipline. Operating margins have been thin and inconsistent, which is typical for a smaller specialty insurer but still a sign that execution needs to improve for earnings to become more dependable.

Balance Sheet

Balance Sheet The balance sheet looks reasonably sized and stable for a specialty insurer, with total assets moving in a fairly narrow range over the past five years. Cash levels have improved compared with earlier years, which offers a bit more flexibility, though they remain modest relative to the overall balance sheet. Debt has edged down slightly but equity has trended lower, indicating that cumulative losses have eroded the capital base. The company is not excessively leveraged, but it no longer has the same cushion it once had, so preserving and rebuilding capital will matter going forward.

Cash Flow

Cash Flow Cash generation has been inconsistent, mirroring the income statement volatility. There were periods of healthy operating cash inflows, but also years with sizable outflows, including the most recent year reverting back to negative operating cash flow. Free cash flow closely tracks this pattern because capital spending needs are small. For an insurer, swings in cash flow can reflect shifts in underwriting results, reserve movements, and investment activity, but the pattern here still indicates that the business has not yet settled into a reliable cash‑generating groove.

Competitive Edge

Competitive Edge James River operates in the specialty excess and surplus market, where expertise and discipline matter more than sheer size. Its edge comes from deep knowledge of niche, harder‑to‑place risks and long relationships with wholesale brokers. The decision to exit more volatile reinsurance and refocus on core specialties reduces complexity and should make the business easier to manage. At the same time, the company faces strong, well‑capitalized rivals in E&S, so its advantage depends on continuing to underwrite carefully, avoid large missteps, and maintain its reputation with distribution partners.

Innovation and R&D

Innovation and R&D Instead of traditional R&D, James River is investing in technology and data capabilities to modernize its operations. The rollout of the Guidewire platform and data tools is aimed at improving underwriting decisions, speeding up policy and claims handling, and offering better digital experiences to brokers and customers. A new technology leader with specialty insurance experience signals a push to integrate analytics and possibly more advanced tools like AI into day‑to‑day underwriting and claims. These projects could strengthen the business over time, but their benefits depend heavily on execution quality and change management.

Summary

James River is a specialty insurer in the middle of a strategic and technological transition. The core business has shown stable revenue but uneven profitability and cash flow, which has gradually worn down the company’s capital cushion. Management has simplified the business by stepping away from riskier lines and is now leaning into its strengths in niche E&S markets while upgrading its systems and data capabilities. If the company can translate its underwriting expertise and technology investments into more consistent, disciplined results, its position could improve meaningfully, but recent financial volatility means there is still clear execution and earnings risk to monitor.

NEWS

October 6, 2025 · 8:30 AM UTC

James River Recruits Georgia Collier and Matt Sinosky, Completing E&S Leadership Reorganization

Read more