Articles from Global Indemnity Group, LLC

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) today announced the successful completion of an extensive reorganization of its business, code-named ‘Project Manifest’. This reorganization is a significant milestone, positioning the company for enhanced operational efficiency and growth by:

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) announced today its Board of Directors has approved a distribution payment of $0.35 per common share to be paid on December 31, 2024 to all shareholders of record as of the close of business on December 24, 2024.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported an increase of 77% in net income available to shareholders to $33.9 million or $2.48 per share for the nine months ended September 30, 2024 compared to $19.2 million or $1.39 per share for the same period in 2023.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its third quarter 2024 earnings before market open on Thursday, November 7, 2024.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) announced today its Board of Directors has approved a distribution payment of $0.35 per common share to be paid on October 7, 2024 to all shareholders of record as of the close of business on September 30, 2024.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported an increase of 83% in net income available to shareholders to $21.2 million or $1.55 per share for the six months ended June 30, 2024 compared to $11.6 million or $0.84 per share for the same period in 2023.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its second quarter 2024 earnings before market open on Wednesday, August 7, 2024.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) announced today its Board of Directors has approved a distribution payment of $0.35 per common share to be paid on June 28, 2024 to all shareholders of record as of the close of business on June 21, 2024.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported net income available to shareholders of $11.3 million for the three months ended March 31, 2024 compared to $2.4 million for the same period in 2023.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its first quarter 2024 earnings before market open on Wednesday, May 8, 2024.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported net income available to shareholders for the twelve months ended December 31, 2023, of $25.0 million compared to net loss available to shareholders of $1.3 million for the corresponding period in 2022. Adjusted operating income per share was $1.96 in 2023, an increase of 125% over $0.87 in 2022, driven by a 95.2% accident year combined ratio in the Company’s Penn-America excess and surplus lines insurance business and $55.4 million of net investment income, which increased 101% over 2022. The Company also reduced gross written premium of its Non-Core Operations by 86%. Book value per share increased 8.2% (including $1.00 per share of dividends paid during 2023) to $47.53 at December 31, 2023.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) announced today that its Board of Directors approved a dividend rate of $0.35 per common share payable on March 28, 2024 to all shareholders of record as of the close of business on March 21, 2024, a 40% increase over the prior quarterly dividend rate of $0.25 per common share.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its 2023 earnings before market open on Wednesday, March 13, 2024.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) announced today its Board of Directors has approved a distribution payment of $0.25 per common share to be paid on December 29, 2023 to all shareholders of record as of the close of business on December 22, 2023.

Global Indemnity Group, LLC (NYSEGBLI) (“Global Indemnity” or the “Company”) announced today that it suspended the exploration of the sale or merger of Penn-America, Global Indemnity’s insurance group, and Global Indemnity itself at this time.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported net income available to shareholders for the nine months ended September 30, 2023, of $19.2 million compared to net loss available to shareholders of $3.5 million(1) for the corresponding period in 2022. Net income available to shareholders for the three months ended September 30, 2023 was $7.6 million, compared to net income available to shareholders of $23.6 million(1) for the corresponding period in 2022.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its third quarter 2023 earnings before market open on Wednesday, November 8, 2023.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) announced today its Board of Directors has approved a distribution payment of $0.25 per common share to be paid on October 16, 2023 to all shareholders of record as of the close of business on October 9, 2023.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported net income available to shareholders for the six months ended June 30, 2023, of $11.6 million compared to net loss available to shareholders of $27.2 million for the corresponding period in 2022. Net income available to shareholders for the three months ended June 30, 2023 was $9.2 million, compared to net loss available to shareholders of $12.3 million for the corresponding period in 2022. Adjusted operating income, which excludes realized gains and losses and the results of Exited Lines, was $10.3 million for the six months ended June 30, 2023, compared to $8.0 million for the six months ended June 30, 2022. Adjusted operating income was $6.9 million for the three months ended June 30, 2023, compared to $4.2 million for the corresponding period in 2022.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its second quarter 2023 earnings before market open on Tuesday, August 8, 2023.

Global Indemnity Group, LLC (NYSEGBLI) (“Global Indemnity” or the “Company”) announced that in recent days, multiple parties indicated preliminary interest in exploring an acquisition of or merger with Penn-America, Global Indemnity's insurance group, or an acquisition of or merger with Global Indemnity itself. While the Company is responding to certain of these preliminary indications of interest, there is no assurance that an acceptable transaction will result from such engagement. The Company does not intend to make any further public comment regarding the process unless or until it has been completed or suspended. Attached is the “Chairman’s Letter to Shareholders” that accompanied the Company’s 2022 Annual Report, which was distributed in late April 2023.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) announced today its Board of Directors has approved a distribution payment of $0.25 per common share to be paid on June 30, 2023 to all shareholders of record as of the close of business on June 23, 2023.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported net income available to shareholders for the three months ended March 31, 2023, of $2.4 million compared to net loss available to shareholders of $14.9 million for the corresponding period in 2022. Adjusted operating income, which excludes realized gains and losses and the results of Exited Lines, was $3.4 million for the three months ended March 31, 2023, compared to $3.8 million for the three months ended March 31, 2022.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its first quarter 2023 earnings before market open on Wednesday, May 10, 2023.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported net loss available to shareholders for the twelve months ended December 31, 2022, of $1.3 million compared to net income available to shareholders of $28.9 million for the corresponding period in 2021. Adjusted operating income, which excludes realized gains and losses, the results of Exited Lines, and the write-off of debt issuance costs on the early retirement of debt, was $19.5 million for the twelve months ended December 31, 2022, compared to $14.6 million for the twelve months ended December 31, 2021.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) announced today its Board of Directors has approved a distribution payment of $0.25 per common share to be paid on March 31, 2023 to all shareholders of record as of the close of business on March 24, 2023.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its 2022 earnings before market open on Thursday, March 9, 2023.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) today announced that it has spent $21.9 million under its previously announced stock purchase program and authorized an additional repurchase amount of $38.1 million for an aggregate stock purchase program of $60 million. The authorization to repurchase shares will expire on December 31, 2027. The timing and actual number of shares repurchased, if any, will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. Further, GBLI may utilize a variety of stock repurchase methods, including open market purchases or privately negotiated transactions, all in compliance with GBLI’s Insider Trading Policy, the United States Securities and Exchange Commission, and other applicable legal requirements. The repurchase program does not obligate GBLI to acquire any amount of A Common Shares, and the repurchase program may be suspended or discontinued at any time at GBLI’s discretion.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) announced today its Board of Directors has approved a distribution payment of $0.25 per common share to be paid on December 30, 2022 to all shareholders of record as of the close of business on December 23, 2022.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported adjusted operating income, which excludes realized gains and losses, the results of Exited Lines, the loss on the extinguishment of debt, and the impact of the sale of the Farm, Ranch & Stable renewal rights, of $12.5 million for the nine months ended September 30, 2022, compared to $12.0 million for the nine months ended September 30, 2021. Adjusted operating income, was $5.3 million for the three months ended September 30, 2022, compared to $0.6 million for the corresponding period in 2021. Net loss available to shareholders for the nine months ended September 30, 2022, was $3.5 million compared to net income available to shareholders of $3.8 million for the corresponding period in 2021. Net income available to shareholders for the three months ended September 30, 2022 was $23.6 million, compared to net loss available to shareholders of $7.8 million for the corresponding period in 2021.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today estimated pretax catastrophe losses from Hurricane Ian of $1.5 million to be reflected in the third quarter of 2022. This estimate is based upon information currently available. The Company’s level of Ian losses reflect the Company’s multi-year efforts to reduce its catastrophe exposures.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), today announced that David S. Charlton, Chief Executive Officer, and Reiner R. Mauer, Chief Operations Officer, are no longer officers or directors of GBLI (including its subsidiaries).

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its Third Quarter 2022 earnings before market open on Tuesday, November 8, 2022.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”) announced today its Board of Directors has approved a distribution payment of $0.25 per common share to be paid on October 11, 2022 to all shareholders of record as of the close of business on October 4, 2022.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported adjusted operating income, which excludes realized gains and losses, the results of Exited Lines and the loss on the extinguishment of debt, of $7.3 million for the six months ended June 30, 2022, compared to $11.4 million for the corresponding period in 2021. Adjusted operating income, was $1.8 million for the three months ended June 30, 2022, compared to $8.7 million for the corresponding period in 2021. Net loss available to shareholders for the six months ended June 30, 2022, was $27.2 million compared to net income available to shareholders of $11.7 million for the corresponding period in 2021. Net loss available to shareholders for the three months ended June 30, 2022 was $12.3 million, compared to net income available to shareholders of $6.3 million for the corresponding period in 2021.

Global Indemnity Group, LLC (NYSEGBLI) ("GBLI"), announced today that American Reliable Insurance Company (“ARIC”), a GBLI subsidiary, completed the disposition of ARIC’s Farm, Ranch, and Equine book of renewal business to Everett Cash Mutual. GBLI also announced that it agreed to sell ARIC to Everett Cash Mutual (ECM), which, subject to regulatory approvals and customary transactional conditions, is expected to close in or before the first quarter of 2023. GBLI and ECM anticipate that the renewal rights and acquisition transactions will further enhance ARIC’s provision of products and services to both ARIC’s policyholders and to ARIC’s agency partners.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its Second Quarter 2022 earnings before market open on Tuesday, August 9, 2022.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today its Board of Directors has approved a distribution payment of $0.25 per common share to be paid on June 30, 2022 to all shareholders of record as of the close of business on June 20, 2022.

Global Indemnity Group, LLC (NYSEGBLI) (the “Company”) today reported a net loss to shareholders of $14.9 million for the three months ended March 31, 2022, compared to net income to shareholders of $5.4 million for the corresponding period in 2021. The company generated adjusted operating income of $5.4 million during the first quarter of 2022, which excludes realized losses and the results of Exited Lines, compared to adjusted operating income of $2.3 million for the corresponding period in 2021.

Global Indemnity Group, LLC (NYSEGBLI) (“GBLI”), announced today that it will release its First Quarter 2022 earnings before market open on Monday, May 9, 2022.

BALA CYNWYD, PA / ACCESSWIRE / March 10, 2022 / GBLI Holdings, LLC, a Delaware limited liability company and a subsidiary of Global Indemnity Group, LLC (NYSEGBLI), today announced that it will redeem all of GBLI Holdings, LLC's outstanding 7.875% Subordinated Notes due 2047 (CUSIP No. 37959R202) (the "Notes") on April 15, 2022 (the "Redemption Date"). On the Redemption Date, GBLI Holdings, LLC will pay to the registered holders of the Notes a

BALA CYNWYD, PA / ACCESSWIRE / March 10, 2022 / Global Indemnity Group, LLC (NYSEGBLI) (the "Company") today reported net income available to shareholders of $28.9 million for the year ended December 31, 2021 compared to net loss available to shareholders of ($21.2) million for the corresponding period in 2020. Gross written premiums in 2021 increased 12.4% compared to the corresponding period in 2020. Net income available to shareholders from

BALA CYNWYD, PA / ACCESSWIRE / March 3, 2022 / Global Indemnity Group, LLC (NYSEGBLI) ("GBLI"), ) announced today its Board of Directors has approved a distribution payment of $0.25 per common share to be paid on March 31, 2022 to all shareholders of record as of the close of business on March 21, 2022. About Global Indemnity Group, LLC and its subsidiaries Global Indemnity Group, LLC NYSE:GBLINYSEGBLI)

BALA CYNWYD, PA / ACCESSWIRE / February 21, 2022 / Global Indemnity Group, LLC (NYSEGBLI) ("GBLI"), announced today that it will release its 2021 earnings before market open on Thursday, March 10, 2022. GBLI will hold an earnings call to discuss 2021 results on Thursday, March 10, 2022 at 11:00 a.m. Eastern. The earnings call will be webcast on GBLI's website at www.gbli.com. About Global Indemnity Group, LLC and its subsidiaries Global

BALA CYNWYD, PA / ACCESSWIRE / December 16, 2021 / Global Indemnity Group, LLC (NASDAQGBLI) (the "Company") announced today it is transferring the listing of its Class A Common shares and its 7.875% Subordinated Notes Due 2047 to the New York Stock Exchange ("NYSE") from the NASDAQ Global Select Market ("NASDAQ"). The transfers to the NYSE are expected to be effective January 3, 2022 and will trade under the symbols, GBLI and GBLL,

BALA CYNWYD, PA / ACCESSWIRE / December 6, 2021 / Global Indemnity Group, LLC (NASDAQGBLI) announced today its Board of Directors has approved a distribution payment of $0.25 per common share to be paid on December 31, 2021 to all shareholders of record as of the close of business on December 20, 2021. About Global Indemnity Group, LLC and its subsidiaries Global Indemnity Group, LLC NASDAQ:GBLINASDAQGBLI)

BALA CYNWYD, PA / ACCESSWIRE / November 9, 2021 / Global Indemnity Group, LLC (NASDAQGBLI) (the "Company") today reported net income available to shareholders of $3.8 million for the nine months ended September 30, 2021 compared to net loss available to shareholders of $22.2 million for the corresponding period in 2020. Adjusted operating loss was $2.9 million for the nine months ended September 30, 2021 compared to adjusted operating income of

BALA CYNWYD, PA / ACCESSWIRE / November 2, 2021 / Global Indemnity Group, LLC (NASDAQGBLI) ("GBLI"), announced today that K2 Insurance Services, LLC ("K2") has acquired its American Reliable specialty residential property business, including its manufactured home and dwelling lines. K2 is committed to seamlessly transfer and renew the American Reliable specialty residential property business, which will be underwritten by Homesite Group, a

BALA CYNWYD, PA / ACCESSWIRE / September 16, 2021 / Global Indemnity Group, LLC (NASDAQGBLI) ("GBLI"), announced today that it will release its third quarter 2021 earnings before market open on Tuesday, November 9, 2021. GBLI will hold an earnings call to discuss third quarter results on Tuesday, November 9, 2021 at 11:00 a.m. Eastern. The earnings call will be webcast on GBLI's website at www.gbli.com. About Global Indemnity Group, LLC and

BALA CYNWYD, PA / ACCESSWIRE / September 13, 2021 / Global Indemnity Group, LLC (NASDAQGBLI) announced today its Board of Directors has approved a distribution payment of $0.25 per common share to be paid on September 30, 2021 to all shareholders of record as of the close of business on September 23, 2021. About Global Indemnity Group, LLC and its subsidiaries Global Indemnity Group, LLC NASDAQ:GBLINASDAQGBLI)