We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
James River Group Holdings Ltd | NASDAQ:JRVR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.016 | -0.18% | 8.684 | 8.67 | 9.08 | 8.965 | 8.71 | 8.71 | 335,640 | 01:00:00 |
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of the rated operating subsidiaries of James River Group Holdings, Ltd. (JRG Holdings) [NASDAQ: JRVR]. In addition, AM Best has affirmed the Long-Term ICR of “bbb-” (Good) of JRG Holdings. The outlook of these Credit Ratings (ratings) is stable. JRG Holdings is domiciled in Pembroke, Bermuda, while its subsidiaries are based in Pembroke, Richmond, VA, and Raleigh, NC. (See below for a detailed listing of the subsidiaries.)
The ratings reflect the group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management (ERM).
The very strong balance sheet assessment considers the company’s risk-adjusted capital position and the financial flexibility provided by JRG Holdings, as demonstrated by successful capital raises in 2021 and 2022. Additionally, the group’s balance sheet has been strengthened by the execution of two loss portfolio transfer transactions over the past few years, which addressed the recurring adverse reserve development within the commercial auto lines and casualty reinsurance segment.
The group’s adequate operating performance assessment reflects its consistently positive overall net income across consolidated underwriting and investment results through 2020. Since 2021, overall operating performance has been unbalanced with favorable results in the surplus lines and specialty admitted segments offset by unfavorable results in the casualty reinsurance segment.
The adequate business profile assessment reflects the group’s solid market presence operating across three distinct market segments, excess and surplus, specialty admitted, and casualty reinsurance. The marginal ERM assessment reflects the need for the current ERM framework and risk evaluation to evolve proactively while demonstrating competencies necessary to mitigate any effect on the organization’s balance sheet strength, operating performance or business profile.
The FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) with stable outlooks have been affirmed for the following subsidiaries of James River Group Holdings, Ltd.:
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221110005831/en/
Gordon McLean Senior Financial Analyst +1 908 439 2200, ext. 5487 gordon.mclean@ambest.com
Greg William Senior Director +1 908 439 2200, ext. 5815 greg.williams@ambest.com
Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com
Al Slavin Communications Specialist +1 908 439 2200, ext. 5098 al.slavin@ambest.com
1 Year James River Chart |
1 Month James River Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions