JRVR - Why Bermuda-Based Insurance Firm James River's Shares Are Diving Today | Benzinga
James River Group Holdings Ltd (NASDAQ: JRVR) shares are trading lower by around 30% on continued downward momentum after it reported worse-than-expected Q3 FY23 results on Wednesday.
The company reported EPS of $0.48, beating the consensus of $0.47, and net earned premiums of $202.63 million missed the street view of $226.47 million.
JRVR also identified an error in accounting for reinstatement premium on a specialty casualty reinsurance treaty in its E&S segment. This led to understatements of ceded written premium and overstatements of net written premium and net earned premium of $9.4 million and $12.3 million, respectively, in Q2.
Apart from this, the company disclosed ...