James River Group Holdings, Inc. · NASDAQ:JRVR
James River — Q2 2026 Earnings Presentation
19 slides from James River's earnings presentation, Aug 21, 2026
Slide 1: 2Q 2026 Investor Presentation
2Q 2026 Investor Presentation August 2026
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer 2 Forward-Looking Statements This presentation contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, such forward-looking statements may be identified by terms such as believe, expect, seek, may, will, should, i
Slide 3: A Leading Specialty Insurer with a Diversified E&S Platform
$912 Million Gross Written Premium(1) $523 Million Total Shareholders’ Equity $4.8 Billion Total Assets “A-” (Excellent) A.M. Best Rating A Leading Specialty Insurer with a Diversified E&S Platform 31. Gross Written Premiums reflect LTM information as of June 30, 2026. All other information as of Ju
Slide 4: 2Q26 Results: Disciplined Execution Amid a Competitive Market
Profitability Focused - Enabled by Positioning, People, and Technology • U.S. Small and Medium Company Focus with Limited Property & Auto • Wholesale Only Distribution Creates Loyalty and Drives Strong Submission Growth • New Energy and Leadership Appointments Across E&S and Group • Durable Expense
Slide 5: E&S Market: Long-Term Growth and Market Opportunity
E&S Market: Long-Term Growth and Market Opportunity 5 The E&S market - with its flexibility and niche focus - has shown itself to be a permanent force in aligning capital and need, with an outlook poised for continued profitable growth even in a moderating overall market. 1. Source: S&P Global Marke
Slide 6: Our Core Competency in E&S Aligns With Attractive Market
Our Core Competency in E&S Aligns With Attractive Market 6 96%(1) of Net Written Premiums originated from E&S lines in 2025, making us one of the largest and most concentrated public companies in E&S exposure Source: Statutory E&S direct written premium as defined and calculated by S&P Global Market
Slide 7: Diversified E&S Platform
E&S GWP(1) $912 Million 15% Primary Casualty (3) Excess Casualty Manufacturers & Contractors Specialty (2) Property 15% 36% 4% 14% 31% Enables Opportunistic Growth and Prudent Risk Selection 7 1. Gross Written Premiums reflect LTM information as of June 30, 2026. 2. Includes the following underlying
Slide 8: Our Casualty Focus Enables Selective Targeting of Profitable Growth
Our Casualty Focus Enables us to Selectively Target Profitable Growth with Attractive Rate and a Strong Submissions Environment 8 1. Figures reflect year to date change through June 30, 2026, compared first half of 2025. Submission growth all E&S excluding commercial auto and contract binding. 2. Co
Slide 9: Selective Growth Driven by Strong ERM & Underwriting Discipline
Selective Growth Driven by Strong ERM & Underwriting Discipline 9 2Q26 E&S segment accident year loss ratio of 64.9% due to nimble shifts in business mix, significant changes to underwriting appetite and the impact of premium adjustments Initial E&S Segment Accident Year Loss Ratio Has Been Stable M
Slide 10: Claims Counts Show a Pervasive, Declining Trend
June 30th 2026 Core E&S (1) (By Number of Months) Claims Counts Show a Pervasive, Declining Trend 10 The significant decline post 2022 reflects substantial underwriting changes to portfolio $ in Millions and all premiums are gross of prior year reinsurance adjustments 1. Excludes Commercial Auto div
Slide 11: Reported Loss Ratios Appear to Support Green Shoots
June 30th 2026 Core E&S (1) (By Number of Months) Accident Year 6 18 30 42 54 66 78 2020 3.0% 15.1% 29.1% 40.2% 51.4% 61.5% 71.9% 2021 3.2% 18.2% 28.5% 39.0% 48.9% 57.7% 2022 2.4% 12.4% 26.9% 39.0% 49.4% 2023 1.6% 11.9% 22.2% 34.8% 2024 1.5% 10.4% 19.2% 2025 1.4% 7.7% Reported Loss Ratios Appear to
Slide 12: Capital Position
Capital Position 12 Our strong balance sheet enables us to continue to capitalize on the current E&S market opportunity 1. Excluding restricted cash equivalents. 2. everage ratio in accordance with the Company’s credit agreements is calculated as adjusted consolidated debt / total capital. Adjusted
Slide 13: A Stable, Yield Generating Investment Portfolio
A Stable, Yield Generating Investment Portfolio 13 High quality and well diversified portfolio across asset classes designed to provide consistent investment income 1. Investment portfolio value reflects total invested assets plus cash and cash equivalents (excluding restricted cash equivalents) as
Slide 14: Driving Innovation Through Technology
14 Driving Innovation Through Technology AI-enabled underwriting workbench throughout E&S segment Core platform modernization Key Initiatives ⚫ Speed to market and response time are critical factors to the wholesale distribution channel, and are gatekeepers in the E&S market. ⚫ Profitable, efficient
Slide 15: Recognition
15 Recognition Employees are our greatest assets; James River is proud of its continued award recognition, high engagement scores, and rewarding culture. 1. Note: op orkplaces is the nation’s leading employer recognition program that has been recognizing outstanding companies since 2006. Award recip
Slide 16: Appendix: Underwriting Performance Ratios & Non-GAAP Reconciliation
Appendix: Underwriting Performance Ratios & Non-GAAP Reconciliation
Slide 17: Underwriting Performance Ratios
Underwriting Performance Ratios 17 Note: The above table provides the underwriting performance ratios of the Company inclusive of the business subject to retroactive reinsurance accounting. There is no economic impact to the Company over the life of a retroactive reinsurance contract so long as any
Slide 18: Non-GAAP Measures Reconciliation
Non-GAAP Measures Reconciliation 18 1. Included in underwriting results for the three and six months ended June 30, 2026 is gross fee income of $977,000 and $2.5 million, respectively ($3.9 million and $8.3 million in the respective prior year periods) and the negative impact of $552,000 and $7.2 mi
Slide 19: Non-GAAP Measures Reconciliation
Non-GAAP Measures Reconciliation 19 1Q26 1Q25 2025 2024 30-Jun-26 31-Mar-26 31-Dec-25 30-Jun-25 Tangible Equity and Tangible Common Equity ($ in millions) Shareholders’ Equity $522.6 $518.4 $538.2 $492.6 Plus: Series A Redeemable Preferred Shares 133.1 133.1 133.1 133.1 Plus: Deferred Reinsurance Ga
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