James River takes $169mn Q1 reserve charge on Uber loss creep
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Cookies Settings

James River takes $169mn Q1 reserve charge on Uber loss creep

Bernard Goyder, 
John Hewitt Jones
May 05, 2021
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
james-river-logo-richmond-va-nonsunset.jpg

James River is tapping investors for an additional $175mn in equity capital, following a painful first quarter in which the specialty carrier’s combined ratio deteriorated by 98.6 points to 199.2%, as losses from its now run-off deal with Uber climb.

The company warns that it now faces a potential ratings downgrade by AM Best to an A- rating.

“Our financial strength rating is likely to be downgraded, which may have a significant impact on our business, liquidity and financial condition,”...

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Take a free trial Already a subscriber? Login now

Topics

NewsResultsSpecialty LinesJames River
BG
Bernard Goyder
JJ
John Hewitt Jones
Gift this article