James River’s share price drops over 30% as KBW warns of reserving “red flag”

James River’s share price dropped more than 30 percent in Thursday trading after KBW downgraded its rating on the Bermudian carrier in response to a “very unwelcome red flag” in Q3 general casualty reserve strengthening, despite CEO Frank D’Orazio’s bullish outlook for the E&S market.

 

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