WILMINGTON, Del., Feb. 24, 2026 (GLOBE NEWSWIRE) -- Global Indemnity Group, LLC (NASDAQ:GBLI) (“GBLI”) announced today that it will release its 2025 earnings results before market open on Tuesday, March 10, 2026. GBLI will hold an earnings call to discuss 2025 results on Tuesday, March 10, 2026 at 11:00 a.m. Eastern. The earnings call will be webcast on GBLI’s website at www.gbli.com. To participate via telephone, please register in advance using this link, https://register-conf.media-server.com/register/BI ...

Core Insights - Global Indemnity Group (GBLI) is identified as a small-cap, property and casualty insurance company that is currently undervalued and profitable, with a successful reorganization in progress [1] Group 1: Company Overview - GBLI is a small-cap insurance company specializing in property and casualty insurance [1] - The company is nearing the completion of a successful reorganization, which is expected to enhance profitability [1] Group 2: Financial Performance - The reorganization involves the runoff of legacy, low-margin policies from the balance sheet, which is anticipated to further boost profitability [1]

Group 1 - Global Indemnity Group, LLC (NASDAQ:GBLI) announced a distribution payment of $0.35 per common share, scheduled for December 30, 2025, to shareholders of record as of December 22, 2025 [1] - Global Indemnity Group is a publicly traded holding company with a diversified portfolio of property and casualty insurance-related entities [2] - The company includes five statutory insurance carriers rated "A" (Excellent) by AM Best, which are Penn-America Insurance Company, United National Insurance Company, Penn-Patriot Insurance Company, Diamond State Insurance Company, and Penn-Star Insurance Company [2] Group 2 - The company operates four managing general agencies focused on sourcing, underwriting, and servicing primary and reinsurance business [6] - It also has three specialized insurance product and service entities, including Kaleidoscope Insurance Technologies, Sayata, and Liberty Insurance Adjustment Agency, Inc. [6]

Financial Performance - Gross written premiums increased by 8.6% to $108.4 million for the quarter ended September 30, 2025, compared to $99.8 million for the same period in 2024[144]. - Current accident year underwriting income rose 54% to $10.2 million in 2025, up from $6.6 million in 2024[136]. - Net investment income for 2025 was $17.9 million, an increase of 8.6% compared to the same period in 2024[136]. - Net income for the third quarter of 2025 was $12.5 million, or $0.86 per diluted share, compared to $12.8 million, or $0.92 per diluted share, in 2024[136]. - Net investment income increased by 25.3 million to $58.7 million in 2025, compared to $33.4 million in 2024[198]. - Net income for the quarter ended September 30, 2025, was $12.5 million, slightly down from $12.8 million in 2024; for the nine months, net income was $18.9 million, down from $34.2 million in 2024[176]. Underwriting and Loss Ratios - The current accident year combined ratio improved to 90.4% in 2025 from 93.5% in 2024[136]. - The loss ratio improved to 50.1% in the third quarter of 2025 from 54.9% in the same period of 2024[140]. - The current accident year loss ratio improved by 4.9 points to 50.1% for the quarter ended September 30, 2025, compared to 55.0% for the same period in 2024[155]. - The current accident year combined ratio, excluding the impact of California Wildfires, was 93.2% for the nine months ended September 30, 2025, compared to 95.0% for the same period in 2024[156]. Premiums and Revenue - Direct written premiums for Wholesale Commercial, Vacant Express, and Collectibles grew by 8.7% and 9.2% for the quarter and nine months ended September 30, 2025, respectively[145]. - Direct written premiums for Specialty Products declined by 45.5% for the quarter ended September 30, 2025, compared to the same period in 2024, primarily due to terminating products not meeting profitability expectations[147]. - Belmont Core's assumed business grew to $15.6 million and $38.6 million for the quarter and nine months ended September 30, 2025, respectively, representing increases of 57.7% and 99.8% from the same periods in 2024[147]. - Net earned premiums within the Belmont Core segment increased by 5.8% to $99.4 million for the quarter ended September 30, 2025, compared to $94.0 million for the same period in 2024[151]. - Casualty net earned premiums increased to $58.7 million for the quarter ended September 30, 2025, compared to $50.9 million for the same period in 2024[151]. - Casualty net earned premiums increased to $170.4 million for the nine months ended September 30, 2025, compared to $150.4 million for the same period in 2024[158]. Investments and Cash Flow - Total cash and investments stood at $1.4 billion as of September 30, 2025, with fixed maturities and cash comprising 96% of total investments[141]. - Net cash provided by operating activities decreased by $37.2 million to $15.1 million for the nine months ended September 30, 2025, compared to $52.3 million in 2024[198]. - The total fixed maturities portfolio was valued at $1,309.4 million as of September 30, 2025, down from $1,381.9 million at the end of 2024[165]. - The Company's investment grade fixed income portfolio maintains a high quality with an AA- average rating and a duration of 1.1 years[211]. Shareholder Equity and Dividends - Shareholders' equity increased by $8.8 million to $704.1 million at September 30, 2025, from $695.3 million at June 30, 2025[141]. - The company declared extraordinary dividends of $100.0 million in aggregate for distribution to Belmont Holdings GX, Inc. in June 2025[197]. - Quarterly distribution payments of $0.35 per common share were approved, totaling $10.0 million during the nine months ended September 30, 2025[199]. Strategic Initiatives - The Company executed its post-reorganization strategy through the acquisition of Sayata and the launch of Valyn Re LLC, focusing on scaling its Agency and Insurance Services segment[138]. - Belmont Non-Core's business represents run-off premium from non-renewed treaties, indicating a strategic focus on core operations[148]. Expenses and Taxation - The expense ratio for the nine months ended September 30, 2025 increased to 39.9%, up from 39.2% in 2024, primarily due to investments in underwriting personnel[161]. - Income tax expense was $3.5 million on net income before tax of $16.1 million for Q3 2025, compared to $3.1 million on net income before tax of $15.9 million in 2024[174].

Financial Data and Key Metrics Changes - The accident year combined ratio improved to 90.4%, resulting in an underwriting profit of $10.2 million, compared to 93.5% last year [7] - Net income for Q3 2025 was $12.5 million, consistent with last year's results, while underlying operating income increased by 19% [8][13] - Book value per share rose from $48.35 to $48.88, with a return to shareholders of 1.8% for the quarter [13] Business Line Data and Key Metrics Changes - Gross written premiums increased by 9% to $108.4 million, with a 13% growth excluding terminated products [15] - The wholesale commercial business grew by 10% to $67.9 million, driven by a 4% average rate increase [15] - Assumed reinsurance gross premiums grew 58% to $15.6 million due to new treaties added [17] Market Data and Key Metrics Changes - The investment income for Q3 2025 was $17.9 million, a 9% increase from the previous year [13] - The total investment return was $14.5 million for Q3 2025, with an annualized return of 4% [17] Company Strategy and Development Direction - The company is focusing on achieving substantial scale in its agency and insurance services segment through organic growth, new product launches, and strategic acquisitions [11] - A new legal and organizational structure was launched, and the company plans to have all existing products on a new system architecture by 2026 [10][11] - The company has rebranded its group to Catalyx and acquired IATA, an AI-enabled digital distribution marketplace [11] Management's Comments on Operating Environment and Future Outlook - Management noted that while the market remains favorable, competition is increasing, particularly as new products are introduced [10][26] - The outlook for 2025 is positive, with expectations of at least double-digit premium growth [18][30] - Corporate expenses are expected to remain higher due to investments in new business opportunities [14] Other Important Information - The board has decided to move the stock listing to NASDAQ, which is seen as more appropriate for the company's new chapter [12] - Discretionary capital was reported at $273 million, up from $260 million [31] Q&A Session Summary Question: Explanation of investment losses - The $4 million loss was a fair value decline on equities, not realized through sale, and is considered short-term [21] Question: Restructuring of investment portfolio - The company has deployed $200 million into corporates and mortgage-backed securities, with only 4% of the portfolio currently in short-term investments [23] Question: Increase in competition - Competition is increasing in small commercial and collectibles sectors, but the company is still achieving expected pricing levels [26] Question: Future premium growth expectations - Management remains optimistic about achieving at least double-digit premium growth [30] Question: Discretionary capital update - Discretionary capital is currently $273 million, an increase from the previous figure [31] Question: Thoughts on implementing a buyback program - The board has decided to focus on growth opportunities rather than stock buybacks in the short term [33]

Financial Performance - Operating income increased by 19% to $15.7 million or $1.08 per share for Q3 2025 compared to $13.2 million or $0.95 per share for Q3 2024[2] - Current accident year underwriting income rose by 54% to $10.2 million in Q3 2025 from $6.6 million in Q3 2024, driven by strong property loss ratio performance[2] - Net investment income grew by 9% to $17.9 million in Q3 2025 compared to $16.5 million in Q3 2024[2] - The net income available to common shareholders for Q3 2025 was $12.4 million, slightly down from $12.7 million in Q3 2024[16] - Net income for the nine months ended September 30, 2025, was $18.9 million, down from $34.2 million in 2024, indicating a decrease of 44.5%[22] Premiums and Underwriting - Gross written premiums increased by 9% to $108.4 million in Q3 2025 compared to $99.8 million in Q3 2024; excluding terminated products, the increase was 13%[2] - Net earned premiums for Q3 2025 were $99.7 million, an increase from $95.4 million in Q3 2024, representing a growth of 3.4%[16] - Net written premiums for Q3 2025 were $105.5 million, up from $97.2 million in Q3 2024, reflecting an increase of 8.6%[16] - Direct written premiums for Q3 2025 totaled $92.9 million, a slight decrease of 0.5% from $93.3 million in Q3 2024[13] - Assumed written premiums for Q3 2025 increased significantly to $15.6 million, up 57.7% from $9.9 million in Q3 2024[14] Ratios and Performance Metrics - Current accident year combined ratio improved to 90.4% in Q3 2025 from 93.5% in Q3 2024[2] - The combined ratio for Q3 2025 improved to 90.6%, down from 94.3% in Q3 2024, indicating better underwriting performance[16] - The loss ratio for Q3 2025 improved to 50.1%, compared to 54.9% in Q3 2024, indicating a reduction in loss expenses relative to earned premiums[16] - Current accident year combined ratio excluding California Wildfires improved to 93.2% for the nine months ended September 30, 2025, from 95.0% in 2024[26] Shareholder Equity and Book Value - Book value per share increased to $48.88 at September 30, 2025, up from $48.35 at June 30, 2025, reflecting a 1.8% increase[2] - Shareholders' equity rose to $704.1 million at September 30, 2025, compared to $695.3 million at June 30, 2025[2] - The company returned $644 million to shareholders since its IPO in 2003, including $522 million in share repurchases and $122 million in dividends/distributions[18] Investments - Annualized investment return was reported at 4.0% for Q3 2025[2] - The total annualized investment return for the nine months ended September 30, 2025, was 4.8%, compared to 6.1% for the same period in 2024[20] - Net investment income for Q3 2025 was $17.9 million, compared to $16.5 million in Q3 2024, marking a growth of 8.6%[16] - Total cash and invested assets, net, as of September 30, 2025, amounted to $1,435.2 million, slightly down from $1,440.7 million at the end of 2024[20] - Cash and cash equivalents increased significantly to $75.4 million as of September 30, 2025, from $17.0 million at the end of 2024[20] Corporate Developments - The company acquired Sayata, an AI-enabled digital distribution marketplace and agency operations for commercial insurance[2] - The company announced the transfer of its class A common shares listing to Nasdaq Global Select Market, expected to begin trading on November 4, 2025[2] - Sayata is an AI-enabled insurance marketplace that enhances the company's digital initiatives[32] - The company operates four managing general agencies focused on sourcing, underwriting, and servicing primary and reinsurance business[32] - The specialized insurance product and service entities include Kaleidoscope Insurance Technologies, which develops proprietary underwriting and policy systems[32] - Liberty Insurance Adjustment Agency provides claims evaluation, adjustment, and related services[32]

Core Points - Global Indemnity Group, LLC will transfer its Class A Common Shares listing from the New York Stock Exchange to the Nasdaq Global Select Market, effective after market close on November 3, 2025 [1] - The shares are expected to begin trading on Nasdaq under the existing ticker symbol "GBLI" on November 4, 2025 [1] - This transition to Nasdaq is seen as a significant move for Global Indemnity [1]

Core Points - Global Indemnity Group, LLC (NYSE:GBLI) will release its third quarter 2025 earnings on October 30, 2025, before market open [1] - An earnings call to discuss the third quarter 2025 results is scheduled for October 30, 2025, at 11:00 a.m. Eastern [1] - The earnings call will be available via webcast on GBLI's official website [1]

Core Insights - Global Indemnity Group (GBLI) has launched a new reinsurance managing general agency (MGA) through its subsidiary Penn-America Underwriters (PAU) [1] - The new MGA will be led by George Dragonetti, who has over three decades of reinsurance experience [2][3] - The launch is seen as a significant milestone for PAU in its development as a specialty provider of insurance and reinsurance products and services [7] Company Overview - PAU focuses on underwriting, growth, and distribution of both insurance and reinsurance products, along with technology solutions and claims services [1] - The company operates a network of three agencies dedicated to sourcing, underwriting, and servicing insurance policies [5] - PAU also includes three strategic insurance product and service businesses: Sayata, Liberty Insurance Adjustment Agency, and Kaleidoscope Insurance Technologies [6] Leadership and Strategy - George Dragonetti's experience includes leadership roles at Emerald Bay Risk Solutions, Nav Re, and RLI Re, with a strong track record in developing tailored reinsurance solutions [2][3] - Dragonetti aims to accelerate growth and deliver underwriting excellence while contributing to PAU's broader strategy and long-term objectives [3][4] - GBLI's chairman, Saul Fox, emphasized Dragonetti's extensive reinsurance expertise, which will be integral to advancing PAU's reinsurance business [2]

Core Insights - Global Indemnity Group, LLC's subsidiary, Penn-America Underwriters, LLC, is launching its first reinsurance managing general agency (MGA) in collaboration with George Dragonetti, who will serve as President of the new unit [1][2]. Company Overview - Global Indemnity Group, LLC (NYSE:GBLI) is a publicly listed holding company focused on property and casualty insurance-related businesses [3]. - The company holds controlling interests in multiple agencies and strategic insurance product and service businesses, including Penn-America Insurance Services, J.H. Ferguson and Associates, and Kaleidoscope Insurance Technologies [3]. Leadership and Expertise - George Dragonetti, with over three decades of reinsurance experience, will lead the new MGA. His background includes 13 years in Bermuda and 20 years in the U.S. [2]. - The leadership team aims to drive innovation, growth, and superior underwriting performance for the new reinsurance platform [2]. Strategic Importance - The launch of the MGA is seen as a significant milestone for Penn-America Underwriters, enhancing its capabilities in specialized insurance and reinsurance solutions [2]. - The initiative is part of GBLI's broader Manifest strategy, which focuses on expanding the company's offerings in the insurance sector [2].