James River Group Holdings, Ltd. (NASDAQ:JRVR) Q2 2022 Earnings Conference Call August 2, 2022 8:30 AM ET

Company Participants

Brett Shirreffs - Head, IR

Frank D'Orazio - CEO

Sarah Doran - CFO

Conference Call Participants

Mark Hughes - Truist

Meyer Shields - KBW

Brian Meredith - UBS

Tracy Benguigui - Barclays

Operator

Welcome to the James River Group Second Quarter 2022 Earnings Conference Call. My name is Hilda and I will be your operator for today. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions]

And now I would now like to turn the call over to Mr. Brett Shirreffs, Head, Investor Relations. Mr. Shirreffs you may begin.

Brett Shirreffs

Thank you. Good morning, everyone, and welcome to the James River Group second quarter 2022 earnings conference call. During the call, we will be making forward-looking statements. These statements are based on the current beliefs, intentions, expectations and assumptions that are subject to various risks and uncertainties, which may cause actual results to differ materially.

For a discussion of such risks and uncertainties, please see the cautionary language regarding forward-looking statements in yesterday's earnings release and the risk factors in our most recent Form 10-K and Form 10-Qs and other reports and filings we have made with the Securities and Exchange Commission. We do not undertake any duty to update any forward-looking statements.

I will now turn the call over to Frank D'Orazio, Chief Executive Officer of James River Group.

Frank D'Orazio

Thank you for that introduction, Brett. Good morning and welcome to everyone on the call.

I'm pleased to be back with all of you today to provide additional color on our second quarter as our strong operating momentum has continued throughout the first half of the year. Undoubtedly, we remain a leader in the E&S market and our teams across the entire organization have executed exceptionally well on their business plans. We have been able to capitalize on market opportunities while optimizing portfolios that haven't met our profitability expectations.

We have done this while also building out our enterprise risk management framework and making other investments across the platforms to make sure James River becomes stronger and more profitable underwriting company. These efforts have resulted in very strong financial results for both the second quarter and for the first half of the year as we posted a 91% combined ratio in Q2 and a 94.2% at the midway point of the year.