# James River Group Holdings, Ltd. (JRVR)

**Exchange:** NASDAQ  
**Sector:** Financial Services  
**Market cap:** $254M  
**Price:** $4.24 (+1.32%)

> James River Group Holdings, Ltd. is a holding company that owns and operates a group of specialty insurance companies. Its primary objective centers on generating returns on tangible equity by earning profits from insurance underwriting and achieving risk-adjusted investment returns, all while managing capital and limiting underwriting and investment volatility. The company operates through two key segments: Excess and Surplus Lines, which provides non-standard coverage for unique or high-risk exposures, and Specialty Admitted Insurance, offering regulated policies tailored to specific markets. These segments enable James River Group Holdings, Ltd. to serve diverse industries, including construction via workers' compensation through entities like Stonewood and Falls Lake Insurance, and support managing general agents across admitted and non-admitted platforms. Founded in 2002 and headquartered in Hamilton, Bermuda prior to its recent redomiciliation, the company emphasizes a culture driven by core values, prioritizing employee talents to deliver superior service in the specialty insurance market.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $688M | — | — | $47M | — |
| 2024 | $708M | — | — | -$81M | — |
| 2023 | $812M | — | — | -$108M | — |
| 2022 | $662M | — | — | $31M | — |
| 2021 | $609M | — | — | -$173M | — |
| 2020 | $669M | — | — | $5M | — |
| 2019 | $907M | — | — | $38M | — |
| 2018 | $886M | — | — | $64M | — |
| 2017 | $818M | — | — | $44M | — |
| 2016 | $586M | — | — | $74M | — |
| 2015 | $505M | — | — | $53M | — |
| 2014 | $439M | — | — | $45M | — |
| 2013 | $386M | — | — | $67M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $4.86B | $4.19B | $538M | $261M | — |
| 2024 | $5.01B | $4.41B | $461M | $362M | — |
| 2023 | $5.32B | $4.64B | $535M | $274M | — |
| 2022 | $5.14B | $4.44B | $554M | $159M | — |
| 2021 | $4.95B | $4.22B | $725M | $190M | — |
| 2020 | $5.06B | $4.27B | $796M | $162M | — |
| 2019 | $5.02B | $4.25B | $779M | $207M | — |
| 2018 | $3.14B | $2.43B | $709M | $172M | $118M |
| 2017 | $2.76B | $2.06B | $695M | $163M | $98M |
| 2016 | $2.35B | $1.65B | $693M | $110M | $88M |
| 2015 | $2.06B | $1.37B | $681M | $106M | $88M |
| 2014 | $1.96B | $1.27B | $688M | $73M | $88M |
| 2013 | $1.81B | $1.11B | $701M | $159M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$19M | $5M | -$24M |
| 2024 | -$247M | $5M | -$252M |
| 2023 | $88M | $6M | $82M |
| 2022 | $223M | $8M | $215M |
| 2021 | -$914M | $6M | -$920M |
| 2020 | -$274M | $549,000 | -$274M |
| 2019 | $1.49B | $519,000 | $1.49B |
| 2018 | $290M | — | — |
| 2017 | $208M | — | — |
| 2016 | $154M | — | — |
| 2015 | $120M | — | — |

Source: [CompaniesByCap](https://companiesbycap.com/company/JRVR)