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Member, Beacon International Group, Ltd.
Bermuda-based insurance holding firm James River Group Holdings Ltd. has posted a net loss of $152.7 million for the fourth quarter of 2023, driven by a reclassification of its casualty reinsurance segment’s results to discontinued operations, Reinsurance News reported. However, the firm said that its adjusted net operating income of $12.4 million reflected strong investment income and profitable underwriting results from continuing operations, particularly from its excess and surplus lines segment. The E&S segment saw gross written premium surpass $1 billion, a record level.