James River
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James River stock tumbles, Brown & Brown slips, RenRe sees modest gains on Q3 results. -
The carrier expects losses of $5mn from Hurricane Ida net of reinsurance recoveries, and adverse development of $15.1mn in casualty reinsurance.
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Investors pile into James River stock after the Bermudian sells off its loss-riddled legacy portfolio of Uber policies.
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James River ceded approximately $345mn of commercial auto liabilities relating to business written for Uber’s ridesharing business.
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The former KBW banker will oversee investments, investor relations, and rating agency activity, and will report directly to chief financial officer Sarah Doran.
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Industry veteran Gunson will report to James River CEO Frank D’Orazio and be based in Richmond, Virginia.
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The (re)insurer generated what it said was a record quarterly underwriting profit, boosted by a 67% spike in E&S underwriting income to $27mn.
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Gelinne, who had a more than 30-year career at AIG before Allied World, takes over after a series of reserve charges.
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Janet Cowell, a James River board member since 2016, says she will not stand for reelection in 2022.
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Former Montpelier Re CEO Chris Harris has stepped down from his role on the board of James River Holdings, the company announced in a securities filing.
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Several law firms have prepared class action suits against James River after an Uber loss charge led to an equity raise.
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Rescue work halted as a judge holds the first hearings on suits against the condo association.
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