Global Indemnity Group, LLC - GBLI STOCK NEWS

GBLI Holdings, LLC, a subsidiary of Global Indemnity Group, has announced the redemption of all its outstanding 7.875% Subordinated Notes due 2047 on April 15, 2022. As of the announcement date, the aggregate principal amount outstanding was $130,000,000. Registered holders will receive a redemption price equal to 100% of the principal and accrued interest. This announcement serves as information regarding the upcoming redemption and is not a formal notice.

Global Indemnity Group reported a net income of $28.9 million for 2021, a significant recovery from a net loss of ($21.2 million) in 2020. Gross written premiums grew by 12.4% year-over-year, reaching $682.1 million. The company's core business showed an even stronger performance, with net income of $42.3 million compared to a loss of ($7.7 million) in 2020. New business segments in Environmental, Excess Casualty, and Professional were launched, expanding operational capacity. Exited Lines reported a net loss of ($13.4 million).

Global Indemnity Group (NYSE:GBLI) announced a quarterly distribution payment of $0.25 per common share. The payment will be made on March 31, 2022, to shareholders recorded as of the close of business on March 21, 2022. The company, through its subsidiaries, provides specialty property and casualty insurance in the U.S. and reinsurance worldwide across four primary segments: Commercial Specialty, Specialty Property, Farm, Ranch, & Stable, and Reinsurance Operations.

Global Indemnity Group (NYSE:GBLI) will release its 2021 earnings on March 10, 2022, before market open. An earnings call is scheduled for the same day at 11:00 a.m. Eastern, which will be webcast on the company’s website. Global Indemnity operates in several segments, including Commercial Specialty, Specialty Property, Farm, Ranch, & Stable, and Reinsurance Operations. Caution is advised as the company’s forward-looking statements are subject to risks and uncertainties, particularly related to COVID-19.

Global Indemnity Group (NYSE: GBLI) has successfully completed its transfer listing to the New York Stock Exchange (NYSE), commencing trading today. This move aims to enhance market visibility and broaden shareholder reach by leveraging the NYSE's advanced market model and extensive network. Chairman Saul A. Fox stated that joining the NYSE aligns with their peers and is integral for delivering long-term shareholder value. Since 2000, nearly 300 companies have switched to the NYSE, representing over $1 trillion in market value.

Global Indemnity Group (NASDAQ:GBLI) announced its transfer from the NASDAQ to the New York Stock Exchange (NYSE), effective January 3, 2022. The company's Class A Common shares and 7.875% Subordinated Notes Due 2047 will trade under the symbols GBLI and GBLL, respectively. This strategic move aims to enhance market visibility and shareholder reach, as stated by Chairman Saul A. Fox. Trading on NASDAQ will conclude on December 31, 2021, with no action required from investors.

Global Indemnity Group (NASDAQ:GBLI) has declared a quarterly distribution of $0.25 per common share, set to be paid on December 31, 2021. Shareholders on record by the close of business on December 20, 2021 will be eligible. This payment reflects the company's commitment to returning value to its shareholders. Global Indemnity Group operates several wholly-owned insurance subsidiaries that provide specialty property and casualty insurance and reinsurance services. For further details, visit the company’s website.

Global Indemnity Group reported significant improvements for the nine months ending September 30, 2021, with a net income of $3.8 million, a turnaround from a net loss of $22.2 million in 2020. Notable increases were seen in gross written premiums (up 10.6%), net written premiums (up 12.9%), and net earned premiums (up 5.6%). However, adjusted operating loss reached $2.9 million, a decline from a profit of $16.8 million the previous year, largely due to reserve adjustments. The company also announced the sale of its manufactured and dwelling homes business for $30.4 million as part of strategic realignment.

Global Indemnity Group (NASDAQ:GBLI) announced the acquisition of its American Reliable specialty residential property business by K2 Insurance Services. This includes manufactured home and dwelling lines, with underwriter support from Homesite Group, a subsidiary of American Family Insurance. The transition aims to be seamless for agents and policyholders. Reiner Mauer, GBLI's COO, emphasized a focus on core commercial lines for sustainable profitability. K2 manages over $1 billion in premium, enhancing its market presence.