Results
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The three lines add up to 80% of the deal. -
The transaction mostly covers casualty portfolios of 2021 and prior underwriting years.
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Cat losses in reinsurance rose 11.1% year over year to $45.1mn, driven by Hurricane Helene.
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The year-to-date CoR was down 9.5 points to 102.8% compared to 2023.
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After one good year, giving back margin now will be “inexcusable”, the executive said.
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Cat losses increased 14.6% to $91.6mn, driven by Hurricane Helene and Storm Boris.
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Q3 expansion was fueled by 9.9% of personal lines organic growth.
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Ceding commissions remain elevated but primary rates are improving reinsurer margins.
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The carrier’s shares declined over 17% this morning following Q3 earnings and strategic actions.
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The firm announced Q3 results alongside strategic actions that included an ADC deal with Enstar.
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James River also amended the convertible preferred equity held by Gallatin Point and closed its strategic review.
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The Insurance Insider US news team runs you through the earnings results for the day.
