James River Insurance Company
James River Insurance Company is a public insurance provider founded in 2003, specializing in Excess and Surplus Lines. With a team of 521 employees and headquarters in Richmond, VA, the company offers tailored insurance solutions across various sectors, including manufacturers, contractors, and life sciences.
Company Overview
James River Insurance Company is a public company founded in 2003 and headquartered in Richmond, Virginia. It operates in the insurance industry, specifically focusing on Excess and Surplus Lines. The company is classified as a large business with a team size of 521 employees. It has additional locations in Scottsdale, Arizona, and Alpharetta, Georgia. James River Insurance is recognized for its ability to provide tailored insurance solutions for businesses that may be declined by other underwriters.
Specialties
James River Insurance Company specializes in various lines of insurance, including Manufacturers & Contractors, General Casualty, Excess Casualty, and Excess Property. The company also offers coverage in Life Sciences, Sports & Entertainment, Allied Healthcare, Contract Binding, Energy, Environmental, Hired & Non-Owned Auto, Professional Liability, and Small Accounts - Casualty. This wide range of specialties allows the company to cater to both low and higher hazard businesses.
Operations and Distribution Model
The company operates on an Excess & Surplus Lines basis across all fifty states and Washington D.C. It employs a brokerage model, working exclusively with specifically authorized surplus lines brokers. James River Insurance utilizes a hybrid distribution model that includes direct retail agency products and partnerships with specialized program administrators. Each insurance submission is reviewed individually to provide customized solutions for clients.
Community Engagement and Diversity Initiatives
James River Insurance Company is committed to supporting the communities it serves through partnerships with local non-profits and service-based organizations. The company has established a dedicated Diversity, Equity, and Inclusion Committee, focusing on initiatives such as partnering with diverse job sites and sponsoring local career events. This commitment reflects the company's aim to foster an inclusive workplace and community.
Financial Performance and Market Presence
James River Insurance Company was listed on NASDAQ under the symbol JRVR in August 2005 and again in December 2014. The company operates two segments: Excess and Surplus Lines and Specialty Admitted Insurance. It has a mission to generate compelling returns on tangible equity while limiting underwriting and investment volatility. The company has a history of providing creative solutions for business insurance needs since its inception.