Here are the 10-K annual reports from Global Indemnity Group, LLC (GBLI) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow GBLI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GBLI filings page.
Global Indemnity Group, LLC (GBLI) is a Delaware insurance holding company operating as a publicly traded partnership for U.S. tax purposes, with Class A common shares listed on the Nasdaq Global Select Market. Holders receive Schedule K‑1s and are taxed on their share of partnership income.
The company completed a major internal reorganization in December 2024, creating two main platforms: Belmont Holdings, which owns five AM Best "A" rated insurance carriers, and Katalyx Holdings, a specialty intermediary with four agencies and three technology and claims service businesses. In early 2025 it realigned into three reportable segments: Agency and Insurance Services, Belmont Core, and Belmont Non-Core.
Belmont Core wrote $401.4 million of gross written premiums in 2025, focused on E&S small commercial business and assumed reinsurance, with diversified U.S. geographic exposure and no single agent over 10% of gross written premiums. Belmont Non-Core is in run-off, freeing capital to support Belmont Core growth.
The company relies heavily on reinsurance, including layered catastrophe and casualty excess-of-loss treaties and quota shares, and had $62.6 million of reinsurance receivables net of an allowance and before collateral at year-end 2025. Investments totaled $1.44 billion, predominantly short-duration, investment-grade fixed maturities, with a 1.0-year duration and 4.3% embedded book yield.
Key risks highlighted include execution of the new structure and growth strategy, adequacy of loss reserves, catastrophe and terrorism exposure, cyber and AI-related operational risks, economic downturns, reliance on AM Best ratings, and evolving regulatory, privacy, and data protection requirements.