James River Group shares jump 14.31% after-hours after reporting 19.3% ROE, expense cuts, and re-domicile tax savings.

James River Group Holdings surged 14.31% in after-hours trading following its Q3 2025 earnings call, driven by strong equity returns, cost-cutting measures, and re-domicile tax benefits. The company reported a 19.3% annualized adjusted net operating return on tangible common equity, a 23.4% year-to-date increase in tangible common book value, and a reduced expense ratio of 28.3% (down over 3% points from prior-year). Management highlighted $8 million in year-to-date savings from headcount reductions and operational efficiency, with an additional $10–13 million tax savings expected in Q4 2025 from re-domiciling to Delaware. The group combined ratio improved to 94% from 135.5% in Q3 2024, signaling better underwriting performance. Despite a small net loss and premium declines in certain segments, the strategic focus on profitability and favorable accident year loss trends reinforced investor confidence in the company’s turnaround.