4.86
price up icon0.62%   0.03
after-market Handel nachbörslich: 4.87 0.010 +0.21%
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Warum fällt James River Group Holdings Ltd-Aktie (JRVR)?

2023-11-09:

James River Group Holdings, Ltd Stock (JRVR) dropped by 32.78% from $13.15 to $8.84 in the trading on Thursday November 9, 2023. The reasons why JRVR stock down today include:

  • Worse-than-expected Q3 FY23 results: The company reported EPS of $0.48, beating the consensus of $0.47, and net earned premiums of $202.63 million missed the street view of $226.47 million.
  • Error in accounting: JRVR identified an error in accounting for reinstatement premium on a specialty casualty reinsurance treaty in its E&S segment. This led to understatements of ceded written premium and overstatements of net written premium and net earned premium of $9.4 million and $12.3 million, respectively, in Q2.
  • Agreement disclosure: The company disclosed an agreement with Fleming Intermediate Holdings to sell casualty reinsurance business for $277 million.
  • Downgrade from analyst: Truist downgraded the stock to Hold from Buy on increased risk that the insurer will have to set more money aside for reserves at its core Excess & Surplus Lines business.
$37.85
price up icon 0.24%
insurance_specialty AGO
$92.24
price up icon 0.01%
insurance_specialty RDN
$33.22
price down icon 0.36%
insurance_specialty ACT
$33.10
price up icon 0.18%
$57.53
price down icon 0.59%
insurance_specialty MTG
$24.60
price up icon 0.16%
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