James River Insurance Company operates as an Excess & Surplus carrier in all 50 states plus Washington, DC. In Ohio, policies are underwritten by James River Casualty Company, a wholly-owned subsidiary of James River Insurance Company.
The physical office for James River Insurance Company (JRIC) is located in Richmond, Virginia. The holding company for JRIC, James River Group, Inc. is located in Raleigh, North Carolina. The ultimate parent of James River Group is Franklin Holdings (Bermuda), Ltd. located in Hamilton, Bermuda.
James River Group was formed in mid-2002 and capitalized by private equity.
James River Insurance Company opened its doors for business on July 1, 2003. JRIC expanded rapidly and profitably.
In August 2005, James River Group, Inc. was taken public in an IPO and was listed on NASDAQ under the symbol JRVR.
In December 2007, all outstanding shares of JRVR were acquired by a private investor group led by D.E Shaw Group including Goldman Sachs and several others. This entity is named Franklin Holdings (Bermuda), Ltd.
A.M. Best Co. assigned an initial rating of A- (Excellent) Financial Size VI to James River Insurance Company in July 2003 and has affirmed it A- (Excellent) rating each year since. In June, 2009, A.M. Best Co. increased the Financial Size to IX ($250 - $500 million in policyholder surplus) to reflect the size rating for the Franklin Holdings group.
James River Insurance Company distributes its products through a relatively limited number of primarily wholesale brokers nationwide. Although we are focused on wholesale brokers almost exclusively, we will consider working with retail specialists when the opportunity is meaningful and it does not overlap significantly with our wholesale trading relationships.
Our underwriting approach is defined by our focus on underwriting profit. We are not afraid of unusual or high-hazard risks, but seek to understand the exposure of each account fully and price for each accordingly. We aspire to be a great underwriting organization, and the only true measure of that achievement is underwriting profitability, year-in and year-out through all phases of market cycles.
The company writes brokerage, individual risk business through its various underwriting divisions – each organized around a specific industry group or coverage.