Business
Global Indemnity Group, LLC Reports First Quarter 2025 Results
WILMINGTON, Del.--(BUSINESS WIRE)-- Global Indemnity Group, LLC (NYSE:GBLI) (the “Company”) today reported a net loss available to common shareholders of
About this update from Global Indemnity Group, Llc
[{"type":"text","content":" WILMINGTON, Del.--(BUSINESS WIRE)--\nGlobal Indemnity Group, LLC (NYSE:GBLI) (the “Company”) today reported a net loss available to common shareholders of $4.1 million or ($0.30) per share for the three months ended March 31, 2025 which includes net loss attributed to California Wildfire events in January 2025 (“California Wildfires”) of $12.2 million after tax.\n\nHighlights of Consolidated Results for the Three Months Ended March 31, 2025\n\n\nExcluding California Wildfires, net income available to common shareholders was $8.1 million or $0.58 per share in 2025.\n\n\nNet investment income increased 2% to $14.8 million in 2025 as compared to the same period in 2024. Book yield on the fixed maturities portfolio increased to 4.5% at March 31, 2025 from 4.3% at March 31, 2024.\n\n\nAnnualized investment return was 5.4% for 2025.\n\n\nGross written premiums, increased 6% to $98.7 million in 2025; Excluding terminated products, gross written premiums increased 16% to $98.4 million in 2025 compared to $85.0 million in 2024.\n\n\nInsurTech grew 20% to $15.0 million in 2025 compared with $12.5 million in 2024 from organic agency growth, new agency appointments and new products.\n\n\nWholesale Commercial grew 6% to $64.9 million compared to $61.1 million in 2024; excluding audit premiums, policy year premiums are higher by 14% in 2025.\n\n\nAssumed Reinsurance increased 275% to $10.9 million in 2025 compared to $2.9 million in 2024 due to new treaties incepting during 2024 and 2025.\n\n\n\n\nCurrent accident year underwriting loss of $10.3 million for 2025 compared to $5.3 million of underwriting income for the same period in 2024. Excluding California Wildfires, the current accident year underwriting income would have been in line with 2024 at $5.3 million in 2025.\n\n\nCurrent accident year combined ratio was 111.5% in 2025 compared to 94.9% in 2024. Excluding California Wildfires, the current accident year combined ratio would have been 94.8% in 2025 compared to 94.9% for the same period in 2024.\n\n\nNet losses and loss adjustment expenses related to prior accident years were less than $0.1 million in 2025 and 2024.\n\n\nShareholders' equity was $687.1 million at March 31, 2025 compared to $689.1 million at December 31, 2024.\n\n\nBook value per common share is $47.85 at March 31, 2025 compared to $49.98 at December 31, 2024.\n\n\n...