James River’s stock plummets after it reports $7.8mn unfavorable E&S casualty reserve development
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James River’s stock plummets after it reports $7.8mn unfavorable E&S casualty reserve development

Kyoung-son Song
November 09, 2023
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James River’s stock price plummeted more than 30% on Thursday, after the firm sustained downgrades from equity analysts over concerns around the insurer’s E&S casualty reserves.

In its Q3 2022 earnings report, the firm’s E&S segment reported an unfavorable reserve development of $7.8mn reflecting adverse emergence in older accident years within its general casualty line.

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Kyoung-son Song
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