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PEMBROKE, Bermuda - James River Group Holdings, Ltd. (NASDAQ:JRVR), a specialty insurance company with a market capitalization of $251 million and current stock price of $5.47, has appointed Valdean Langenburg as Group Chief Information Officer and promoted Justin Zaharris to Group Chief Claims Officer, the specialty insurance company announced Thursday.
Langenburg succeeds Thomas Peach, who retired on July 4 after more than four decades in information technology, including six years as James River’s CIO. Langenburg joins from WR Berkley, where he led information technology strategy for the firm’s Excess and Surplus Lines segment. He will be based in Richmond, Virginia and report directly to CEO Frank D’Orazio. According to InvestingPro, the company maintains strong liquidity with a current ratio of 4.03, indicating solid financial flexibility for new strategic initiatives.
Zaharris, who has been serving as Vice President overseeing claims for the Company’s Excess & Surplus Lines segment since 2021, brings more than 20 years of legal, technical and operational claims expertise in the property and casualty industry. He will continue to work from the company’s Richmond office and also report to D’Orazio.
"Both Val and Justin are proven leaders whose expertise complements the already strong bench at James River," said D’Orazio in the press release statement.
The Bermuda-based insurance holding company also announced it will release second quarter 2025 earnings after market close on Monday, August 4, 2025, with a conference call scheduled for Tuesday, August 5. The stock has shown positive momentum with a 13.82% year-to-date return, though InvestingPro analysis reveals 12 additional key insights about the company’s performance and outlook, available to subscribers.
James River Group operates in two specialty property-casualty insurance segments: Excess and Surplus Lines and Specialty Admitted Insurance. Each of the company’s regulated insurance subsidiaries are rated A- (Excellent) by A.M. Best Company. While the company currently shows a weak overall financial health score, analysts expect net income growth this year, according to InvestingPro’s comprehensive analysis available in the Pro Research Report.
In other recent news, James River Group Holdings reported its first-quarter financial results, revealing an operating earnings per share (EPS) of $0.19. This figure fell short of analysts’ expectations, including JMP Securities’ estimate of $0.32 and the consensus estimate of $0.27. Despite the lower-than-expected earnings, the accident year loss ratio outperformed projections, coming in at 65%, driven by the Excess and Casualty segment. However, the company’s expense ratio was higher than anticipated at 33%, and its net investment income was below forecasts at $20 million. In another development, James River announced a leadership transition in its Excess and Surplus Lines segment, with Todd Sutherland set to succeed Richard Schmitzer as President. Schmitzer will retire after a long tenure, marking a strategic move for the company. Additionally, James River disclosed a minor $483,625 adjustment to the closing purchase price of a previous transaction with Fleming Intermediate Holdings LLC. This adjustment followed a dispute resolution by an independent accounting firm.
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