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Global Indemnity Group, LLC Reports Year Ended 2022 Results
WILMINGTON, Del.--(BUSINESS WIRE)-- Global Indemnity Group, LLC (NYSE:GBLI) (the “Company”) today reported net loss available to shareholders for the twelve
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 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 $14.6 million for the twelve months ended December 31, 2021.\n\nSelected Operating and Balance Sheet Information\nConsolidated Results Including Continuing Lines and Exited Lines\n(Dollars in millions, except per share data)\n\n\n\n \n\n\n\nFor the Twelve Months\n\n\nEnded December 31,\n\n\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nGross Written Premiums\n\n\n\n$\n\n\n\n727.6\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n682.1\n\n\n\n \n\n\n\n\n\nNet Written Premiums\n\n\n\n$\n\n\n\n591.3\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n580.1\n\n\n\n \n\n\n\n\n\nNet Earned Premiums\n\n\n\n$\n\n\n\n602.5\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n595.6\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nNet income (loss) available to shareholders\n\n\n\n$\n\n\n\n(1.3\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n28.9\n\n\n\n \n\n\n\n\n\nNet income from Continuing Lines\n\n\n\n$\n\n\n\n4.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n46.0\n\n\n\n \n\n\n\n\n\nNet loss from Exited Lines (1)\n\n\n\n$\n\n\n\n(6.2\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(17.1\n\n\n\n)\n\n\n\n\n\nNet income (loss) available to shareholders per share\n\n\n\n$\n\n\n\n(0.09\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n1.97\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted operating income\n\n\n\n$\n\n\n\n19.5\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n14.6\n\n\n\n \n\n\n\n\n\nAdjusted operating income per share\n\n\n\n$\n\n\n\n1.30\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.97\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nCombined ratio analysis:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nLoss ratio\n\n\n\n \n\n\n\n59.6\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n64.7\n\n\n\n%\n\n\n\n\n\nExpense ratio\n\n\n\n \n\n\n\n39.2\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n37.4\n\n\n\n%\n\n\n\n\n\nCombined ratio\n\n\n\n \n\n\n\n98.8\n\n\n\n...