James River Group Holdings Ltd (JRVR) just unveiled an announcement.
The Board of Directors of James River Group Holdings has green-lighted an increase in cash incentive payouts for 2023, exceeding the initial performance target-based amounts. This decision was influenced by the sale of various business segments and the pursuit of strategic alternatives, which impacted key financial metrics. Adjustments were made to exclude certain expenses and losses from the Adjusted EBIT calculations, acknowledging the management team’s strategic efforts. The revised payouts, reflecting a range of 71.7% to 88.7% of target incentives, aim to recognize executive contributions under challenging strategic shifts within the company.
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