James River shares plunge 29% after Uber charge triggers share sale, threatens FSR
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James River shares plunge 29% after Uber charge triggers share sale, threatens FSR

Bernard Goyder
May 06, 2021
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Shares in James River Group collapsed more than 29% in early trading to $32.88, wiping $450mn off the specialty insurer’s market capitalization, after the company announced a dilutive equity raise of $175mn on Wednesday. 

The decision to raise extra capital was triggered by a $169mn reserve charge, as prior-year claims continue from the company’s troubled commercial auto contract with Uber, which was placed into run-off in February 2020.

The

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Bernard Goyder
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