Global Indemnity Group, LLC - GBLI STOCK NEWS

Global Indemnity Group (NYSE:GBLI) is set to release its Q1 2023 earnings on May 10, 2023, before market open. The company will host an earnings call on the same day at 11:00 a.m. Eastern, where analysts and investors can engage with management. GBLI specializes in both admitted and non-admitted specialty property and casualty insurance across the United States and offers reinsurance globally. The company's operations are divided into Continuing Lines, which include Commercial Specialty and Reinsurance Operations, and Exited Lines, focusing on businesses it no longer underwrites. For further details, visit www.gbli.com.

Global Indemnity Group (NYSE:GBLI) reported a net loss of $1.3 million for the year ended December 31, 2022, a stark decline from a net income of $28.9 million in 2021. Adjusted operating income rose to $19.5 million from $14.6 million year-over-year. The company experienced a 6.7% increase in gross written premiums totaling $727.6 million. The combined ratio improved to 98.8% from 102.1%, with a loss ratio of 59.6%. Despite a significant decrease in investment income to $27.6 million, the company anticipates recovery of unrealized losses by 2024. Book value per share fell to $44.87 from $48.44, driven by rising interest rates.

Global Indemnity Group (NYSE:GBLI) announced a $0.25 per share distribution to its common shareholders. The payment is scheduled for March 31, 2023, with a record date of March 24, 2023. GBLI operates in specialty property and casualty insurance through various subsidiaries, focusing on both admitted and non-admitted coverages in the United States and offering reinsurance worldwide. The company emphasizes the risks and uncertainties in their forward-looking statements, advising investors to review SEC filings for detailed discussions regarding potential risks.

Global Indemnity Group (NYSE:GBLI) will announce its 2022 earnings before market open on March 9, 2023. Following the announcement, a conference call will be held at 11:00 a.m. Eastern the same day, which will be accessible via their website. GBLI specializes in specialty property and casualty insurance in the U.S. through its subsidiaries, including admitted and non-admitted coverages. Investors are cautioned that actual results may differ from forward-looking statements due to various risks and uncertainties. For more details, visit www.gbli.com.

Global Indemnity Group (GBLI) has announced a total of $60 million for its stock purchase program, with $21.9 million already spent and an additional $38.1 million approved for repurchase. This authorization remains valid until December 31, 2027. The actual repurchase will depend on market conditions and other factors. The program permits various methods of stock repurchase but does not obligate GBLI to acquire a set amount of shares, allowing for discretion in execution.

Global Indemnity Group (NYSE:GBLI) announced a $0.25 per share distribution payment to shareholders, set for December 30, 2022. This payment will benefit all shareholders of record as of December 23, 2022. The company operates through various subsidiaries, providing specialty property and casualty insurance in the U.S. and reinsurance worldwide across four main business units: Small to Middle Market Commercial, Commercial Specialty, Programs, and Reinsurance.

Global Indemnity Group reported a 13.0% and 23.0% increase in gross written premiums for Continuing Lines for the three and nine months ended September 30, 2022, respectively. The combined ratio improved to 96.9% for Q3 2022. Catastrophe losses reduced significantly from $20.5 million in 2021 to $9.3 million. The company recorded a net income of $23.6 million for Q3 2022, reversing a previous loss. However, a net loss of $3.5 million was reported for the nine-month period, impacted by market fluctuations. The company authorized a stock repurchase program of $32 million.

Global Indemnity Group (GBLI) estimates pretax catastrophe losses from Hurricane Ian at $1.5 million, which will impact their Q3 2022 results. This reflects ongoing efforts to mitigate catastrophe exposures. GBLI is set to announce its Q3 2022 earnings on November 8, 2022, and will hold a call to discuss the results at 11:00 a.m. Eastern that same day. The company primarily offers specialty property and casualty insurance in the U.S. and worldwide through its subsidiary insurance companies.