AUGUST 20, 2020 11:35 AM (EDT)
AM Best Affirms Credit Ratings of James River Group Holdings, Ltd. and Subsidiaries
FOR IMMEDIATE RELEASE
OLDWICK - AUGUST 20, 2020 11:35 AM (EDT)
The ratings reflect JRG Holdings’ operating subsidiaries balance sheet strength, which AM Best categorizes very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The rating affirmations capture the efficient allocation of capital across underwriting operations and the investment portfolio. Operating performance trends are cultivated by consistency in underwriting results, notably experience in core surplus lines. The organization has a solid position in the surplus lines market, along with established diversification in noncorrelated insurance markets. AM Best acknowledges the group’s formalized and mature ERM program, noting the clearly defined and actionable risk appetite and tolerance levels.
The stable outlooks take into consideration AM Best’s expectation of ongoing supportive risk-adjusted capital, overall operating profitability and sustained business profile competencies. The ratings could be impacted positively by demonstrated improvement in underwriting results across segments or continued advancement in balance sheet strength. The ratings could be impacted negatively by underwriting results outside of expectations in any one segment, significant adverse reserve development or a sudden decline in risk-adjusted capital.
The FSR of A (Excellent) and the Long-Term ICRs of “a” of the following subsidiaries of James River Group Holdings, Ltd. have been affirmed with a stable outlook:
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.