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Global Indemnity Group(GBLI) - 2019 Q4 - Annual Report
2020-03-06 14:35
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ___________ to ___________ 001-34809 Registrant's telephone number, including area code: (345) 949-0100 Commission File Number GLOBAL INDEMNITY LIMITED (Exact name of registr ...
Global Indemnity Group(GBLI) - 2019 Q3 - Quarterly Report
2019-11-08 13:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to 001-34809 Commission File Number GLOBAL INDEMNITY LIMITED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...
Global Indemnity Group(GBLI) - 2019 Q2 - Quarterly Report
2019-08-09 12:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to 001-34809 Commission File Number GLOBAL INDEMNITY LIMITED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organ ...
Global Indemnity Group(GBLI) - 2019 Q1 - Quarterly Report
2019-05-10 11:28
Premiums and Income - Gross premiums written increased by 14.5% to $142.2 million for the quarter ended March 31, 2019, compared to $124.2 million in the same period of 2018[216]. - Net premiums written rose by 14.4% to $123.4 million in Q1 2019, up from $107.9 million in Q1 2018[216]. - Net premiums earned increased by 13.0% to $122.1 million for the quarter ended March 31, 2019, compared to $108.0 million in the prior year[216]. - Underwriting income surged by 94.0% to $14.5 million in Q1 2019, compared to $7.5 million in Q1 2018[216]. - Net income for the quarter reached $19.6 million, a significant increase of 243.8% from $5.7 million in the same quarter of 2018[216]. Loss Ratios and Operational Efficiency - The loss ratio improved to 47.8% in Q1 2019 from 51.9% in Q1 2018, indicating better underwriting profitability[217]. - The combined ratio decreased to 88.5% in Q1 2019 from 93.6% in Q1 2018, reflecting improved operational efficiency[218]. - The current accident year loss ratio for the Commercial Specialty segment improved to 50.9% in Q1 2019 from 58.6% in Q1 2018[236]. - The Company’s total net losses and loss adjustment expenses for Q1 2019 were $21.7 million, down from $25.0 million in Q1 2018, resulting in a loss ratio of 38.9%[240]. - The total accident year losses for the quarter ended March 31, 2019, were $28,317 million, a 2.1% increase from $27,734 million in 2018[244]. Segment Performance - A new casualty treaty contributed $4.2 million in gross premiums written during the quarter ended March 31, 2019[199]. - The Commercial Specialty segment saw a 19.4% increase in gross premiums written, reaching $64.2 million in Q1 2019[221]. - The Reinsurance segment experienced a substantial growth of 70.2% in gross premiums written, totaling $17.5 million in Q1 2019[221]. - Net premiums earned in the Commercial Specialty segment increased by 17.5% to $55.6 million in Q1 2019 from $47.4 million in Q1 2018[226]. - Specialty Property segment net premiums earned rose by 1.9% to $31.9 million in Q1 2019 compared to $31.1 million in Q1 2018[227]. Reserves and Ratios - The total gross reserves as of March 31, 2019, were recorded at $646.0 million, with net reserves at $548.9 million[232]. - The combined ratio for the Commercial Specialty segment improved to 79.9% in Q1 2019 from 93.4% in Q1 2018, reflecting a 13.5% decrease[236]. - The expense ratio for the Company's Commercial Specialty segment increased by 0.5 points to 41.0% in Q1 2019 from 40.5% in Q1 2018[248]. - The current accident year loss ratio for the Farm, Ranch, & Stable segment increased by 10.3 points to 59.6% in Q1 2019 from 49.3% in Q1 2018[267]. Investment and Expenses - Net investment income decreased by 36.7% to $7,219 million in Q1 2019 from $11,404 million in Q1 2018, attributed to decreased returns from alternative investments[291][292]. - The Company reported net realized investment gains of $10,390 million in Q1 2019, a significant improvement compared to a loss of $316 million in Q1 2018[294]. - Corporate and other operating expenses decreased to $3.2 million in Q1 2019 from $9.3 million in Q1 2018, mainly due to a prior year advisory fee of $6.3 million[296]. - Interest expense increased by 3.3% in Q1 2019 compared to Q1 2018, primarily due to higher interest rates on the Margin Borrowing Facility[297]. Cash Flow and Dividends - Net cash used for operating activities was ($23.2) million for the quarter, a decrease of approximately $64.4 million compared to $41.2 million provided in the same quarter of 2018[307]. - The company paid dividends of $3.5 million on March 29, 2019, following a Board approval for a dividend payment of $0.25 per ordinary share[309]. - The company did not declare or pay any dividends during the quarter ended March 31, 2019, for its U.S. insurance companies due to regulatory restrictions[304]. Market Performance - Global equities surged by 12.4% in Q1 2019, marking the best quarterly return since September 2009, driven by trade negotiations and central bank policies[319].
Global Indemnity Group(GBLI) - 2018 Q4 - Annual Report
2019-03-14 20:14
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ___________ to ___________ 001-34809 Commission File Number GLOBAL INDEMNITY LIMITED (Exact name of registrant as specified in its charter) Cayman Islands (State or other jur ...