Global Indemnity Group Llc Stock Price, News & Analysis

Global Indemnity Group (NYSE: GBLI) has appointed Jason C. Murgio to its Board of Directors, effective June 4, 2025. Murgio, who serves as Principal and CEO of Merger & Acquisition Services, Inc., brings extensive experience in insurance industry M&A. The appointment leverages a 15-year collaborative relationship between Murgio's firm and GBLI. Chairman Saul Fox expressed confidence that Murgio's expertise in insurance mergers and acquisitions will contribute significantly to GBLI's growth and innovation initiatives. Murgio's firm is recognized as a leading advisory and financial services organization specializing in the insurance sector.

Global Indemnity Group (NYSE:GBLI) has declared a quarterly dividend distribution of $0.35 per common share. The dividend will be paid on June 27, 2025, to shareholders who hold GBLI stock as of the record date June 20, 2025. This distribution represents the company's commitment to returning value to shareholders through regular dividend payments.

Global Indemnity Group (NYSE:GBLI) reported a net loss of $4.1 million ($0.30 per share) for Q1 2025, primarily due to California Wildfire losses of $12.2 million. Excluding wildfire impact, net income would have been $8.1 million ($0.58 per share). Key highlights: - Gross written premiums increased 6% to $98.7 million - InsurTech grew 20% to $15.0 million - Net investment income rose 2% to $14.8 million - Book value per share decreased to $47.85 from $49.98 - Combined ratio deteriorated to 111.7% from 94.9% YoY - Excluding wildfires, combined ratio remained stable at 94.8% The company recently completed an internal reorganization, restructuring into three segments: Agency and Insurance Services, Belmont Insurance Companies - Core, and Belmont Insurance Companies - Non-Core.

Global Indemnity Group (NYSE:GBLI) has scheduled its first quarter 2025 earnings release and conference call. The company will publish its Q1 2025 financial results before the market opens on Wednesday, May 7, 2025. A conference call to discuss the quarterly results will be held the same day at 11:00 a.m. Eastern.

Investors and analysts can participate in the earnings call through the company's website at www.gbli.com or by dialing +1 (800) 715-9871. Participants will have the opportunity to submit questions to GBLI's management team regarding the Q1 2025 results either through the webcast or by phone.

Global Indemnity Group (NYSE:GBLI) reported strong financial results for 2024, with net income available to shareholders increasing 71% to $42.8 million ($3.12 per share) compared to $25.0 million ($1.83 per share) in 2023.

Key highlights include: operating income up 58% to $42.8 million, book value per share rising to $49.98, and investment income growing 13% to $62.4 million. The company's bond portfolio yield increased to 4.4%, with the investment portfolio growing 4% to $1.44 billion.

GBLI's underwriting performance improved with current accident year underwriting income reaching $18.8 million. The Penn-America segment posted $22.1 million in underwriting income with a 94.4% combined ratio. Catastrophe losses decreased 26% to $12.7 million. Notable growth areas include Penn-America's gross written premiums (+12% to $395.1 million), InsurTech (+17% to $56.3 million), and Assumed Reinsurance (+83% to $25.4 million).

Global Indemnity Group (NYSE:GBLI) has announced a quarterly distribution of $0.35 per common share. The distribution will be paid on March 28, 2025 to shareholders of record as of the close of business on March 21, 2025.

Global Indemnity Group (NYSE:GBLI) has appointed Praveen K. Reddy as President/CEO of Penn-America Underwriters, , a newly formed subsidiary focusing on insurance products distribution, technology services, and claims services. This appointment follows an internal reorganization called Project Manifest.

Reddy, with over 25 years of insurance industry experience, will report to GBLI CEO Joseph W. Brown. He joins from Innovisk Capital Partners, where he served as Global President and COO, and previously held the COO position at Velocity Risk. His appointment aims to drive growth in existing lines, launch new products/teams, and pursue strategic acquisitions.

Penn-America Underwriters was established to enhance service to existing agency partners and expand product offerings to customers. Reddy's role will focus on implementing the Project Manifest strategy to drive growth and operational efficiency.

Global Indemnity Group (NYSE:GBLI) has announced it will release its 2024 earnings report before market open on Tuesday, March 11, 2025. The company will host an earnings conference call on the same day at 11:00 a.m. Eastern to discuss the results. The call will be accessible via webcast on GBLI's website. Investors and analysts can participate by either dialing +1 (800) 715-9871 or submitting questions through the webcast platform.

Global Indemnity Group (NYSE:GBLI) has completed a major business reorganization called 'Project Manifest'. The initiative focuses on three key areas: enhancing Penn-America's business divisions (Wholesale Commercial, Vacant Express, Collectibles, and Specialty Products) by creating separate distinct businesses, establishing independent technology and claims services businesses (Kaleidoscope Insurance Technologies and Liberty Insurance Adjustment Agency), and de-stacking insurance companies to increase consolidated surplus and improve capital management efficiency.

The reorganization aims to improve branding, attract talent, expand distribution partnerships, and create new revenue opportunities by offering services to other insurance industry participants. Fox Paine & Company served as the financial advisor for the project.