Global Indemnity Group, LLC reports developments for a Nasdaq-listed property and casualty insurance holding company with Class A common shares under GBLI. News commonly covers operating results, underwriting income, combined ratios, net earned premiums, investment income, catastrophe-loss effects, and quarterly distributions.
The company’s updates also describe its insurance platform, including Katalyx Holdings managing general agencies such as Penn-America Insurance Services, Valyn Re, J.H. Ferguson & Associates and Collectibles Insurance Services, as well as specialized insurance technology, marketplace and claims-service businesses. Belmont Holdings GX houses five statutory insurance carriers: Penn-America Insurance Company, United National Insurance Company, Penn-Patriot Insurance Company, Diamond State Insurance Company and Penn-Star Insurance Company.
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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