JRVR FINANCIAL STATEMENTS

James River Group Holdings Ltd — balance sheet, income statement and cash flow trends

JRVRJames River Group Holdings Ltd

🇺🇸 USA · NASDAQ · Financial Services · Insurance - Specialty

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue666.7 M $-1.8%

Gross Profit183 M $-17.2%

Operating Income23.9 M $—

EBITDA47.8 M $—

Net Income28.9 M $—

Peer Comparison· Insurance - Specialty

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
JRVR	—	—	—	4.3%
BEZ	—	—	—	88.1%
TSU	—	—	—	4.7%
NHF	—	—	—	5.4%
MPL	—	—	—	5.3%
Industry median	—	—	—	12.4%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity651.5 M $14%
Current Liabilities3.7 B $77%
Long-term Liabilities430.4 M $9%

Key Figures

YoY change

Total Assets4.8 B $-3.8%

Total Liabilities4.1 B $-5.1%

Total Equity651.5 M $+5.5%

Cash & ST Investments867.6 M $-3.8%

Total Debt329.9 M $+0.0%

Net Debt102.2 M $+102.8%

Peer Comparison· Insurance - Specialty

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
JRVR	0.90	50.6%	-11.24	13.7%
BEZ	—	12.9%	-0.60	30.1%
TSU	23.58	23.4%	-0.19	18.5%
NHF	—	27.6%	0.48	52.2%
MPL	13.45	20.5%	0.04	55.0%
Industry median	2.53	20.5%	-0.54	30.3%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
JRVR	0.90	50.6%	-11.24	13.7%
MBI	2.76	-148.1%	55.50	-115.4%
ITIC	3.53	3.2%	-2.03	75.5%
AMSF	0.54	—	—	22.0%
TIPT	0.32	15.9%	0.50	7.2%
EIG	0.77	14.9%	-47.97	25.2%
Industry median	2.53	20.5%	-0.54	30.3%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow32 M $—

Capital Expenditures3.7 M $-31.7%

Free Cash Flow28.3 M $—

Dividends Paid-9.8 M $-157.8%

Peer Comparison· Insurance - Specialty

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
JRVR	4.8%	4.2%	0.5%	110.6%
BEZ	91.7%	90.5%	1.3%	104.1%
TSU	10.4%	10.2%	0.2%	220.2%
NHF	5.4%	4.2%	1.1%	98.7%
MPL	4.8%	3.9%	0.1%	91.0%
Industry median	18.5%	17.6%	0.6%	105.4%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
JRVR	4.8%	4.2%	0.5%	110.6%
MBI	53.3%	53.3%	0.0%	-31.0%
ITIC	11.6%	9.8%	1.9%	85.7%
AMSF	3.1%	2.5%	0.7%	21.9%
TIPT	17.4%	17.6%	0.7%	604.8%
EIG	5.4%	3.4%	0.3%	572.0%
Industry median	18.5%	17.6%	0.6%	105.4%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
JRVR	—	—	—	4.3%
MBI	—	—	—	-172.2%
ITIC	—	—	—	13.6%
AMSF	—	—	—	14.3%
TIPT	—	—	—	2.9%
EIG	—	—	—	0.9%
Industry median	—	—	—	12.4%