Welcome to our dedicated page for Global Indemnity Group news (Ticker: GBLI), a resource for investors and traders seeking the latest updates and insights on Global Indemnity Group stock.
Global Indemnity Group, LLC (NASDAQ: GBLI) is a prominent holding company formed in 2010 under the laws of Ireland. It operates through several specialized segments, including Penn-America Group®, Diamond State Group®, United National Group®, American Reliable Insurance Company®, J.H. Ferguson & Associates (vacantexpress.com®), Collectibles Insurance Services, and Global Indemnity Reinsurance Company Ltd.
Global Indemnity offers a wide array of insurance and reinsurance products designed to cater to a diverse customer base. These encompass specialty property and casualty coverages tailored for unique risks, programs, and niches typically underserved by standard insurance and reinsurance firms. Each segment targets specific markets and distribution channels, providing the company with valuable opportunities and flexibility in conducting business.
The company's operations are divided into three primary segments: Commercial Specialty, Reinsurance Operations, and Exited Lines, with the majority of revenue generated from the Commercial Specialty segment. Geographically, a significant portion of revenue originates from California. Through its multi-channel distribution network, which includes both U.S. and international markets, Global Indemnity effectively reaches a broad spectrum of clients.
Recently, Global Indemnity has made strides in enhancing its market presence and diversifying its product offerings. The company maintains a strong financial position, allowing it to form strategic partnerships and support its extensive range of services and products. With its specialized segments and customer-centric approach, Global Indemnity continues to be a significant player in the insurance and reinsurance industry.
Global Indemnity Group, (NYSE:GBLI) has announced a quarterly distribution payment of $0.35 per common share. The distribution will be paid on October 7, 2024 to shareholders of record as of the close of business on September 30, 2024. This decision was approved by the company's Board of Directors.
Global Indemnity Group (NYSE:GBLI) reported strong financial results for the first half of 2024, with net income available to shareholders increasing 83% to $21.2 million or $1.55 per share. Key highlights include:
- Operating income up 51% to $20.6 million
- Book value per share increased to $48.56
- Investment income rose 18% to $29.8 million
- Current accident year underwriting income increased to $8.7 million
- Penn-America segment posted $9.9 million underwriting income
- Catastrophe losses declined 36% to $6.8 million
Additionally, AM Best affirmed GBLI's A (Excellent) rating for its U.S. insurance subsidiaries, citing the company's strongest level of risk-adjusted capitalization and consistently profitable commercial specialty segment.
Global Indemnity Group (NYSE:GBLI) will release its second quarter 2024 earnings before the market opens on August 7, 2024. The company will host an earnings call at 11:00 a.m. Eastern Time on the same day to discuss the results. The call will be webcast on GBLI's official website. Investors and analysts can participate by dialing +1 (800) 715-9871 or submitting questions through the webcast. This announcement provides an opportunity for stakeholders to gain insights into GBLI's financial performance for the second quarter of 2024.
Global Indemnity Group (NYSE: GBLI) announced a quarterly distribution payment of $0.35 per common share. This payment will be made on June 28, 2024, to all shareholders of record as of the close of business on June 21, 2024.
Global Indemnity Group, reported net income available to shareholders of $11.3 million for Q1 2024, a significant increase from $2.4 million in Q1 2023. The rise was due to strong underwriting results in the Penn-America business and a 21% increase in investment income. Gross written premiums declined by 24.0% to $93.5 million due to runoff in the Non-Core segment. Book value per share increased to $48.18 in March 2024, with a 2.1% rise from December 2023. Dividend per share increased by 40% to $0.35 in 2024.
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