James River Group Holdings, Inc. (NASDAQ: JRVR)

James River Group Holdings, Inc. owns and operates a group of specialty property and casualty insurance companies focused on underwriting small and middle market casualty risks within the U. S. excess and surplus lines market.

The company generates revenue primarily from writing insurance policies and collecting premiums, from fee income on fronted business and from risk adjusted returns on its investment portfolio.

The company operates through the following segments: Excess and Surplus Lines, Specialty Admitted Insurance, and Corporate and Other.

• Excess and Surplus Lines: This segment underwrites non admitted excess and surplus lines commercial liability and property insurance through its subsidiaries James River Insurance and James River Casualty, targeting small and middle market enterprises and distributing primarily through wholesale insurance brokers.

• Specialty Admitted Insurance: This segment holds admitted licenses and writes fronting business where it retains a small share of risk, earns fee income from managing general agents and program administrators, and focuses on casualty risks through its subsidiaries Falls Lake National, Stonewood Insurance and Falls Lake Fire and Casualty.

• Corporate and Other: This segment includes the management and treasury activities of the holding company, long term incentive compensation, public company expenses and interest expense associated with debt.

James River Group Holdings, Inc. holds a strong position in the specialty insurance market as one of the top publicly listed insurers with a high concentration of excess and surplus lines risk, supported by an A. M. Best financial strength rating of A minus and competitive strengths such as deep underwriting expertise, a focus on small and middle market casualty niches, disciplined risk management and the use of technology to improve underwriting accuracy.

The company serves small and middle market commercial businesses in the United States, working through a network of wholesale insurance brokers such as Ryan Specialty Group, Amwins Group and CRC Group, and collaborates with managing general agents and program administrators for its fronting arrangements.