# James River Posts $189.4 Million Q3 Loss After $181.8 Million Impairment

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/53839
Published: 2026-11-11T10:50:09.000Z
Updated: 2026-11-11T10:50:09.000Z
Section: Business

> Net earned premiums fell 14% year over year to $127.7 million, while reserve development in two segments weighed on results.

James River Group Holdings, Inc. (NASDAQ: JRVR) posted a $189.4 million third-quarter loss available to common shareholders, including a $181.8 million noncash goodwill impairment in the quarter.

The loss was $4.08 per diluted share. In the same quarter a year earlier, the company lost $948,000. Adjusted net operating results, which excluded the impairment, showed a $4.4 million loss, or $0.10 per diluted share, compared with $17.4 million in income, or $0.32 per diluted share, a year earlier.

The adjusted net operating loss primarily reflected reserve increases in Excess and Surplus Lines. A reserve review found $19.2 million in adverse development there, mainly tied to a Product Liability portfolio in runoff. Specialty Admitted Insurance recorded another $1.4 million in adverse reserve development.

Net earned premiums fell to $127.7 million from $148.5 million, a 14% year-over-year decline. CEO Frank D’Orazio said the company added Product Liability reserves for a portfolio that is “now fully in runoff.” James River operates specialty insurance businesses in Excess and Surplus Lines and Specialty Admitted Insurance.