Global Indemnity Group, Llc · NASDAQ:GBLI
Global Indemnity — Investor Presentation (September 2017)
24 slides from Global Indemnity's investor presentation, Sep 19, 2017
Slide 1: Investor Review September 2017
Investor Review September 2017 Global Indemnity Ltd Insurance & Reinsurance
Slide 2: Forward Looking Statements
INVESTOR Forward Looking REVIEW Statements 2017 This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding Global Indemnity Limited’s results of operations and financial position, incl
Slide 3: Global Indemnity at a Glance
GLOBAL INDEMNITY AT A GLANCE INVESTOR REVIEW 2017 Exchange / Ticker Gross Written Premium NASDAQ $531 “GBLI” Million Market Capitalization Capital $703 $1.1 Million Billion Share Price. A.M. Best Rating “A” $39.98 (Excellent) Atlanta •Bala Cynwyd •Bermuda •Cavan •Chicago •Dallas •Los Angeles •Omaha
Slide 4: Strong Excess & Surplus Lines Franchise
STRONG EXCESS & SURPLUS LINES FRANCHISE INVESTOR REVIEW 2017 Underwriter of specialty insurance & reinsurance GBLI Consolidated 2016 Gross Written Premium by Business Segment* Strategically located in two major insurance Bermuda Reinsurance centers Commercial 11% E & S U.S. & Bermuda Agriculture 38%
Slide 5: Diverse Business Units & Product Mix
DIVERSE BUSINESS UNITS & PRODUCT MIX INVESTOR REVIEW 2017 INTERNATIONAL COMMERCIAL PERSONAL 1 2 3 REINSURANCE EXCESS & SURPLUS LINES LINES OPERATIONS PENN-AMERICA DIAMOND UNITED VACANTEXPRESS.COM® COLLECTIBLES AMERICAN RELIABLE GLOBAL INDEMNITY GROUP® STATE GROUP® NATIONAL INSURANCE INSURANCE COMPAN
Slide 6: Multi-Channel Distribution
MULTI-CHANNEL DISTRIBUTION INVESTOR REVIEW 2017 Retail General Wholesale Direct to Reinsurance Product Broker/Agent Agency Broker Consumer Broker Small Business Property Lines Brokerage Commercial Programs Vacant Properties Mobile Homes Lines Homeowners & Dwelling Personal Watercraft Collectibles Li
Slide 7: Strong Performance Measures
STRONG PERFORMANCE MEASURES INVESTOR REVIEW 2017 Gross Written Premium ($ Millions) $600 Reinsurance Personal Lines $534.4 $530.5 $500 Commercial Lines $400 $290.7 $291.3 $272.1 $266.4 $300 $244.1 $200 $100 2012 2013 2014 2015 2016 June 2016 June 2017 Book Value $32.15 $34.65 $35.86 $42.98 $45.42 $4
Slide 8: Profitable Underwriting Results
PROFITABLE UNDERWRITING RESULTS INVESTOR REVIEW 2017 Combined Ratio GBLI Combined Ratio (GAAP) Industry Combined Ratio (Statutory) * 120% 110% 104.2% 103.1% 100.7% 100% 96.0% 97.9% 100.9% 95.8% 97.2% 98.4% 95.5% 92.0% 94.5% 90% 80% 70% 2012 2013 2014 2015 2016 June 2017 * Industry based on A.M. Best
Slide 9: Net Income & Book Value Per Share
NET INCOME & BOOK VALUE PER SHARE INVESTOR REVIEW 2017 Net Income Book Value Per Share $80 $50.00 $70 $47.13 $45.42 $42.98 $43.91 $62.9 M $40.00 $60 $61.7 M Share $35.86 Millions) $34.65 $ $50 $32.15 $49.9 M $30.00 Per ( $40 $41.5 M Value Income $34.8 M $20.00 Net $30 Book $22.4 M $20 $10.00 $10 $0
Slide 10: Creating Shareholder Value
CREATING SHAREHOLDER VALUE INVESTOR REVIEW 2017 Redeemed 8.3 million shares in 2015 ($23.00 per share) and received option to redeem additional 3.4 million shares by 2019 Pro Forma Book Value Per Share (BVPS)** June 30, 2017 $5.25 $51.16 $10.09 $35.82 BVPS Share Redemption Cumulative Pro Forma BVPS
Slide 11: GBLI Stock Performance
GBLI STOCK PERFORMANCE INVESTOR REVIEW 2017 GBLI outperformed S&P 500 and peer group: Share Price Performance (since October 2015) GBLI Peer Average S&P 500 Note: 23 $ $ 28 33 $ $ 38 43 $ Oct-15 Market Oct-15 Nov-15 Data Dec-15 as Dec-15 of Jan-16 Feb-16 9/14/17. Feb-16 Peer Mar-16 Apr-16 Apr-16 Ave
Slide 12: Efficient Corporate Structure
EFFICIENT CORPORATE STRUCTURE INVESTOR REVIEW 2017 Global Indemnity LTD Public company that trades on the NASDAQ Global Exchange (Symbol: GBLI). (Cayman Islands) Fox Paine controls approximately 84% of the voting power. Global Indemnity Reinsurance Company, Ltd. (Bermuda) UAI (Luxembourg) (Luxembour
Slide 13: Strong Capitalization
STRONG CAPITALIZATION INVESTOR REVIEW 2017 Rated “A” by A.M. Best with high adequacy score compared to peers: A.M. Best Financial Strength Rating (FSR) Global Indemnity James River RLI Navigators Markel W.R. Berkley A A.M. Best FSR 364 A A.M. Best FSR 324 A + A.M. Best FSR 287 A A.M. Best FSR 287 A
Slide 14: High Quality Reserves & Investments
HIGH QUALITY RESERVES & INVESTMENTS INVESTOR REVIEW 2017 Conservative Loss Reserves Loss Reserve Development Ë— ($ Millions) $4.4 $0 $7.9 -$10 $16.4 -$20 $25.4 -$30 $34.7 -$40 -$50 $57.3 -$60 2012 2013 2014 2015 2016 June 2017 For the year ended December 31, 2012 through June 30, 2017 $137.3 Million
Slide 15: Business Overview – Commercial Lines: Penn-America
BUSINESS OVERVIEW – COMMERCIAL LINES PENN-AMERICA® (Small Business) Insureds are small business, such as restaurants, artisan contractors, retail stores, auto services, and residential & commercial landlords/building owners Average account generates $2,600 annual premium, mainly from Commercial Prop
Slide 16: Business Overview – Commercial Lines: Diamond State Group
BUSINESS OVERVIEW – COMMERCIAL LINES INVESTOR REVIEW 2017 DIAMOND STATE GROUP® (Property Brokerage) Product portfolio consists of property brokerage products; insureds are larger businesses that have the resources to implement effective loss containment initiatives Average account generates $25,000
Slide 17: Business Overview – Commercial Lines: United National Group
BUSINESS OVERVIEW – COMMERCIAL LINES INVESTOR REVIEW 2017 UNITED NATIONAL GROUP® (Programs) Distributes customized products featuring Commercial Property, General Liability, Inland Marine, and Professional Liability through Program Administrators who have: Ë— Specialized underwriting expertise for s
Slide 18: Business Overview – Commercial Lines: VacantExpress.com
BUSINESS OVERVIEW – COMMERCIAL LINES INVESTOR REVIEW 2017 VACANTEXPRESS.COM® (Vacant Property) Insureds own dwellings that are currently vacant, undergoing renovation, or are under construction Product enhancement allows for coverage to continue once dwelling is occupied (rented) Distribution strate
Slide 19: Business Overview – Personal Lines: American Reliable
BUSINESS OVERVIEW – PERSONAL LINES INVESTOR REVIEW 2017 AMERICAN RELIABLE INSURANCE COMPANY® American Reliable Insurance Company® (ARIC) boasts a large network of agency relationships with a long-standing history: Ë— ARIC’s 60-year history gives it a franchise name Ë— Top 20 ARIC’s specialty propert
Slide 20: Business Overview – Personal Lines: Agriculture
BUSINESS OVERVIEW – PERSONAL LINES INVESTOR REVIEW 2017 AMERICAN RELIABLE INSURANCE COMPANY® (Agriculture) GBLI is the 13th largest writer of farm and agriculture in the United States. Current business mix is exposed to severe weather related losses 2016 Gross Written Premium by The Company primaril
Slide 21: Business Overview – Reinsurance: GIRe
BUSINESS OVERVIEW – REINSURANCE INVESTOR REVIEW 2017 GLOBAL INDEMNITY REINSURANCE COMPANY LTD. (“GIRe”) Three main areas of focus: Retrocession with Bermudian Reinsurers in property focus area Retrocession on mortgage reinsurance Insurance/reinsurance of high/very high excess of loss coverage for pr
Slide 22: Business Overview – Reinsurance: 2012 Change in Strategy
BUSINESS OVERVIEW – REINSURANCE INVESTOR REVIEW 2017 GLOBAL INDEMNITY REINSURANCE COMPANY LTD. (“GIRe”) 2012 – Change in Reinsurance Strategy Early 2012, GIRe changed strategy to focus on writing quota share catastrophe and other short-tail reinsurance with best underwriting companies Later in 2013,
Slide 23: Competitive Strength Summary
COMPETITIVE STRENGTH SUMMARY INVESTOR REVIEW 2017 1 Book Well capitalized Value Advantage with approximately $307 Million of excess capital for growth Conservative approach to loss reserving Quality investment portfolio, heavily weighed towards highly rated, liquid fixed income securities 2Earnings
Slide 24: Thank You
Thank You Global Indemnity Limited 27 Hospital Road George Town, Grand Cayman, KYI-9008 Cayman Islands www.globalindemnity.ky info@globalindemnity.ky INVESTOR REVIEW 2017 2
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