Global Indemnity Group Llc Stock Price, News & Analysis

AM Best has reaffirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issue Credit Rating of “a” (Excellent) for the U.S. subsidiaries of Global Indemnity Group. The outlook for these ratings is stable. Factors influencing the ratings include the company's strong balance sheet, with risk-adjusted capitalization at the strongest level, and stable operating performance despite some volatility in certain segments. The company has no long-term debt following the redemption of $130 million subordinated debt in April 2022.

Global Indemnity Group (GBLI) reported a net loss of $14.9 million for Q1 2022, contrasting with a net income of $5.4 million in Q1 2021. Gross written premiums rose by 27.3% to $191 million. The combined ratio improved to 95.0% from 101.2%, with a reduced loss ratio of 56.9%. Adjusted operating income reached $5.4 million, up from $2.3 million the previous year. However, book value decreased by $36.9 million, falling to $669.7 million. The company also prepaid $130 million in debt.

Global Indemnity Group (NYSE:GBLI) is set to release its First Quarter 2022 earnings on May 9, 2022, before the market opens. An earnings call will follow at 11:00 a.m. Eastern the same day, which will be available via webcast on its website. GBLI operates through its subsidiaries, offering specialty property and casualty insurance in the U.S. and reinsurance worldwide, with segments that include Commercial Specialty, Reinsurance, Farm, Ranch, & Stable, and Exited Lines.

GBLI Holdings, LLC, a subsidiary of Global Indemnity Group, has announced the redemption of all its outstanding 7.875% Subordinated Notes due 2047 on April 15, 2022. As of the announcement date, the aggregate principal amount outstanding was $130,000,000. Registered holders will receive a redemption price equal to 100% of the principal and accrued interest. This announcement serves as information regarding the upcoming redemption and is not a formal notice.

Global Indemnity Group reported a net income of $28.9 million for 2021, a significant recovery from a net loss of ($21.2 million) in 2020. Gross written premiums grew by 12.4% year-over-year, reaching $682.1 million. The company's core business showed an even stronger performance, with net income of $42.3 million compared to a loss of ($7.7 million) in 2020. New business segments in Environmental, Excess Casualty, and Professional were launched, expanding operational capacity. Exited Lines reported a net loss of ($13.4 million).

Global Indemnity Group (NYSE:GBLI) announced a quarterly distribution payment of $0.25 per common share. The payment will be made on March 31, 2022, to shareholders recorded as of the close of business on March 21, 2022. The company, through its subsidiaries, provides specialty property and casualty insurance in the U.S. and reinsurance worldwide across four primary segments: Commercial Specialty, Specialty Property, Farm, Ranch, & Stable, and Reinsurance Operations.

Global Indemnity Group (NYSE:GBLI) will release its 2021 earnings on March 10, 2022, before market open. An earnings call is scheduled for the same day at 11:00 a.m. Eastern, which will be webcast on the company’s website. Global Indemnity operates in several segments, including Commercial Specialty, Specialty Property, Farm, Ranch, & Stable, and Reinsurance Operations. Caution is advised as the company’s forward-looking statements are subject to risks and uncertainties, particularly related to COVID-19.

Global Indemnity Group (NYSE: GBLI) has successfully completed its transfer listing to the New York Stock Exchange (NYSE), commencing trading today. This move aims to enhance market visibility and broaden shareholder reach by leveraging the NYSE's advanced market model and extensive network. Chairman Saul A. Fox stated that joining the NYSE aligns with their peers and is integral for delivering long-term shareholder value. Since 2000, nearly 300 companies have switched to the NYSE, representing over $1 trillion in market value.

Global Indemnity Group (NASDAQ:GBLI) announced its transfer from the NASDAQ to the New York Stock Exchange (NYSE), effective January 3, 2022. The company's Class A Common shares and 7.875% Subordinated Notes Due 2047 will trade under the symbols GBLI and GBLL, respectively. This strategic move aims to enhance market visibility and shareholder reach, as stated by Chairman Saul A. Fox. Trading on NASDAQ will conclude on December 31, 2021, with no action required from investors.