James River Announces Third Quarter 2026 Results
Key Highlights
- ➤$189.4 million net loss, or $4.08 per diluted share, including goodwill impairment
- ➤$181.8 million non-cash goodwill impairment reduced shareholders’ equity to $291.9 million
- ➤E&S reserves incurred $19.2 million adverse development, primarily from runoff Product Liability portfolio
- ➤Adjusted net operating loss reached $4.4 million, or $0.10 per diluted share
- ➤Gross written premiums fell 22% to $186.1 million year over year
Expert Statements
Frank D'Orazio, Chief Executive Officer of James River Group Holdings, Inc.
“E&S submission growth and our market opportunity set remain strong across the franchise as we leverage our investments in technology and further emphasize smaller accounts and greater profitability. During the quarter, we completed our first principles reserve review and while the Company continues to see distinct improvement in overall profitability since 2023, we bolstered reserves in our Product Liability line to address a specific portfolio that is now fully in runoff.”
CHAPEL HILL, N.C., Nov. 09, 2026 (GLOBE NEWSWIRE) -- James River Group Holdings, Inc. ("James River" or the "Company") (NASDAQ: JRVR) today reported the following results for the third quarter of 2026 as compared to the same period in 2025. Third quarter results included a non-cash goodwill impairment of $181.8 million that resulted in a net loss available to common shareholders of $189.4 million, or $4.08 per diluted share. The goodwill was added to the balance sheet when the Company was acquired by an investor group in 2007, rather than as a result of any acquisition made by the Company. The impairment charge does not affect the Company's adjusted net operating results, statutory capital or compliance with debt covenants.
Three Months Ended September 30,Three Months Ended September 30, ($ in thousands, except for share data)2026per diluted share2025per diluted share Net loss from continuing operations available to common shareholders$ (189,276)$ (4.08)$ (376)$ (0.01) Net loss from discontinued operations (1)(133)$ —(572)$ (0.01) Net loss available to common shareholders(189,409)$ (4.08)(948)$ (0.02) Adjusted net operating (loss) income (2)(4,445)$ (0.10)17,383$ 0.32
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