James River Group Holdings Ltd (JRVR) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Operator
Welcome to the James River Group Q1 2021 Earnings Call. My name is John, and I ll your operator for today s call. [Operator Instructions]
And I will now turn the call over to Sarah Doran, Chief Financial Officer. Sarah, you may begin.
Sarah Casey Doran
Chief Financial Officer
Thank you, John. Good morning, everyone, and welcome to the James River Group First Quarter 2021 Earnings Conference Call. During the call, we will be making forward-looking statements. These statements are based on 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 the earnings release and Risk Factors section of our most recent Form 10-K, Form 10-Qs and other reports and filings we made with the Securities and Exchange Commission. We do not undertake any duty
First Quarter 2021 Net Loss of $103.5 million – ($3.37 per diluted share) and Adjusted Net Operating Loss
1 of $108.8 million – ($3.54 per diluted share)
35.6% growth in Core (excluding Commercial Auto) Excess and Surplus Lines (“E&S”) Gross Written Premium and 14.6% increase in E&S renewal pricing, each versus the prior year quarter. This renewal rate increase is ahead of that of the prior year quarter. Core E&S Gross Written Premium has grown 85.7% since the first quarter of 2019
Fronting business within the Specialty Admitted segment grew meaningfully as recently added programs continued to mature and expand. Segment Gross Written Premium grew 23.6% and fee income 21.8%, each versus the prior year quarter