James River takes $169mn Q1 reserve charge on Uber loss creep
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James River takes $169mn Q1 reserve charge on Uber loss creep

Bernard Goyder, 
John Hewitt Jones
May 05, 2021
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James River is tapping investors for an additional $175mn in equity capital, following a painful first quarter in which the specialty carrier’s combined ratio deteriorated by 98.6 points to 199.2%, as losses from its now run-off deal with Uber climb.

The company warns that it now faces a potential ratings downgrade by AM Best to an A- rating.

“Our financial strength rating is likely to be downgraded, which may have a significant impact on our business, liquidity and financial condition,”...

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NewsResultsSpecialty linesJames RiverEarnings
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Bernard Goyder
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John Hewitt Jones
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