Global Indemnity Group, LLC Issues Letter to Investor

Rhea-AI Summary

Global Indemnity Group, LLC (NASDAQ:GBLI) has issued a response to Harbert Discovery Fund, LP regarding a letter dated August 12, 2021. The company asserts that the investor's letter contains material factual misstatements and misleading characterizations. Global Indemnity Group emphasizes the importance of careful research and analysis when disseminating public material. The company's diverse specialty property and casualty insurance offerings include Commercial Specialty, Specialty Property, Farm, Ranch, & Stable, and Reinsurance Operations. Investors are cautioned about potential risks and uncertainties affecting results.

Positive

• None.

Negative

• Investor's letter contains factual misstatements.
• Possible negative implications on investor perception.

BALA CYNWYD, Penn., Aug. 18, 2021 (GLOBE NEWSWIRE) -- Global Indemnity Group, LLC (NASDAQ:GBLI) (the “Company”), parent company of specialty property and casualty insurance providers Penn-America Group®, United National Group®, Diamond State Group®, American Reliable Insurance Company®, and Collectibles Insurance Services™, today issued the following letter to Harbert Discovery Fund, LP (the “Investor”) in response to a recent letter from the Investor:

Dear Mr. Lucas:

We refer to your letter to the Chairman of our Board of Directors, dated August 12, 2021. While we thank you for your continued interest in Global Indemnity Group, LLC (“GBLI”), we must nevertheless inform you, and must caution holders of GBLI securities as well as others who may be interested in investing in GBLI securities, that your August 12, 2021 letter to the Chairman contains both material factual misstatements and significant misleading characterizations of GBLI. We entreat you to take more care in your research and analysis, particularly with respect to material you publicly disseminate.

Very truly yours,

	/s/ Stephen W. Ries
	Stephen W. Ries
	Sr. Vice President, Sr. Corporate Counsel, Head of Investor Relations & Secretary
	Global Indemnity Group, LLC

About Global Indemnity Group, LLC and its subsidiaries

Global Indemnity Group, LLC (NASDAQ:GBLI), through its several direct and indirect wholly owned subsidiary insurance companies, provides both admitted and non-admitted specialty property and specialty casualty insurance coverages and individual policyholder coverages in the United States, as well as reinsurance worldwide. Global Indemnity Group, LLC’s four primary segments are:

• Commercial Specialty
  
  
• Specialty Property
  
  
• Farm, Ranch, & Stable
  
  
• Reinsurance Operations
  

Forward-Looking Information

The forward-looking statements contained in this press release¹ do not address a number of risks and uncertainties including, COVID-19. Investors are cautioned that Global Indemnity’s actual results may be materially different from the estimates expressed in, or implied, or projected by, the forward looking statements. These statements are based on estimates and information available to us at the time of this press release. All forward-looking statements in this press release are based on information available to Global Indemnity as of the date hereof. Please see Global Indemnity’s filings with the Securities and Exchange Commission for a discussion of risks and uncertainties which could impact the company and for a more detailed explication regarding forward-looking statements. Global Indemnity does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

[1] Disseminated pursuant to the "safe harbor" provisions of Section 21E of the Security Exchange Act of 1934.

Contact:	Media
	Stephen W. Ries
	Head of Investor Relations
	(610) 668-3270
	sries@global-indemnity.com

FAQ

What did Global Indemnity Group say in response to Harbert Discovery Fund's letter?

Global Indemnity Group stated that the letter contained material factual misstatements and significant misleading characterizations.

What is the stock symbol for Global Indemnity Group?

The stock symbol for Global Indemnity Group is GBLI.

What specialties does Global Indemnity Group provide insurance for?

Global Indemnity Group offers insurance in Commercial Specialty, Specialty Property, Farm, Ranch, & Stable, and Reinsurance Operations.

What risks are associated with Global Indemnity Group according to the press release?

The press release cautions investors about risks and uncertainties, including those related to COVID-19.