| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 172.74 | 1.2% | 9.8% |
| Total Income | 172.74 | 1.2% | 9.8% |
| Expenditure | 170.66 | 1.7% | 30.3% |
| PBT | 2.65 | 63.9% | 105.1% |
| Net Profit | 1.02 | 78.6% | 102.6% |
| OPM | — | ||
| NPM | 0.59% | 2.13pp | 21.16pp |
| EPS | -0.02 | 133.3% | 98.2% |
James River Announces Third Quarter 2025 Results
04 May 2026 · 4 May, 8:20 am
Summary
James River Group Holdings reported their third quarter 2025 results, which included a net loss from continuing operations available to common shareholders of $0.4 million, or ($0.01) per diluted share. However, adjusted net operating income was $17.4 million, or $0.32 per diluted share. The company's combined ratio improved significantly to 94.0%, and underwriting income was $8.9 million compared to a loss in the prior year quarter. The company expects to complete its redomicile from Bermuda to Delaware on or around November 7, 2025.
Key Highlights
- 1
James River reported a net loss from continuing operations available to common shareholders of $0.4 million, or ($0.01) per diluted share, for the third quarter of 2025.
- 2
Adjusted net operating income for the third quarter of 2025 was $17.4 million, or $0.32 per diluted share.
- 3
The company's combined ratio improved to 94.0% compared to 135.5% in the prior year quarter.
- 4
Underwriting income was $8.9 million, a significant improvement from a loss of $56.8 million in the prior year quarter.
- 5
Tangible common equity per share increased by 23.4% since December 31, 2024, reaching $8.24.
- 6
The Excess and Surplus (“E&S”) segment combined ratio improved to 88.3% compared to 136.1% in the prior year quarter.
- 7
Net investment income for the third quarter of 2025 was $21.9 million, a decrease of 7% compared to the prior year quarter.
Management Comments
Frank D’Orazio
“The Company’s third quarter results provide strong returns for our shareholders and demonstrate our underwriting discipline across a casualty-focused small and medium enterprise portfolio that is delivering solid performance, especially in the most recent accident years following our significant underwriting changes” “With the E&S leadership reorganization complete and our portfolio repositioning well underway, we have achieved lasting expense reductions and enter the fourth quarter with renewed energy to capitalize on market opportunities and further drive profitability."
Informational and educational content only. Not investment advice.