Reinsurance News
Global Indemnity
Global Indemnity sees improved investment income and higher GWP in 2025
10th March 2026
Global Indemnity Group reported stronger underlying underwriting profitability and a higher adjusted return on equity in 2025, despite catastrophe losses from the California wildfires weighing on overall reported earnings. The firm posted gross written premiums of $398.9m for 2025, broadly stable compared with $389.8m in 2024, while investment income rose slightly ... Read the full article
Global Indemnity Group reports 54% underwriting income growth in Q3’25
30th October 2025
Global Indemnity Group, LLC (GBLI) has announced its financial results for the third quarter of 2025, reporting 54% growth in current accident year underwriting income and a 19% increase in operating income. The company’s net income saw a slight decrease, to $12.4 million from $12.7 million reported for the same period ... Read the full article
Global Indemnity subsidiary launches inaugural reinsurance MGA
3rd October 2025
Penn-America Underwriters (PAU), a subsidiary of Global Indemnity Group (GBLI), is launching its inaugural reinsurance managing general agency (MGA) in partnership with George Dragonetti, who will also serve as President of the new unit. For those unaware, PAU operates as a division of GBLI specialising in underwriting, growth, and distribution of ... Read the full article
GBLI’s Penn-America Underwriters completes acquisition of Sayata
4th September 2025
Global Indemnity Group, LLC (GBLI) has announced that its subsidiary, Penn-America Underwriters, LLC (PAU), has completed the acquisition of Sayata, an AI-enabled digital distribution marketplace and agency operations for commercial insurance. The deal supports GBLI’s recent strategic reorganisation of PAU to focus on agency and insurance services. With Sayata, PAU aims to ... Read the full article
Global Indemnity’s underwriting income up 61% for Q2’25
11th August 2025
Global Indemnity Group, LLC (GBLI) has reported that current accident year underwriting income grew 61% to $5.6 million for the second quarter of 2025, compared to $3.5 million in the comparable prior year quarter. In Q2’25, the firm recorded continued premium growth, with gross written premiums (GWP) increasing by 6% to ... Read the full article
Global Indemnity Q1’25 impacted by California wildfires, reports $4.1m net loss
9th May 2025
Global Indemnity Group has announced its financial results for the first quarter of 2025, reporting a net loss available to common shareholders of $4.1 million, which includes $12.2 million after tax of net loss attributed to California Wildfire events in January. Excluding California Wildfires, the company reported a net income available ... Read the full article
Global Indemnity sees 71% net income increase in 2024
13th March 2025
Global Indemnity Group (GBLI) has released its financial results for 2024, which include a 71% increase in net income available to shareholders of $42.8 million, compared to $25.0 million from the same period in 2023. GBLI’s operating income for the year also witnessed a notable increase, growing 51% to $42.9 million, ... Read the full article
Praveen Reddy appointed President & CEO of Penn-America Underwriters
10th March 2025
Global Indemnity Group, LLC (GBLI) has announced the appointment of Praveen K. Reddy as the new President and Chief Executive Officer (CEO) of Penn-America Underwriters, LLC, its new subsidiary. Formed following an internal reorganisation announced earlier this year, Penn-America Underwriters is GBLI’s distribution and specialised services group that focuses on the ... Read the full article
Global Indemnity’s net income increases 83% in H1’24
8th August 2024
Global Indemnity Group (GBLI) has released its results for the first half of 2024, which includes an 83% increase in net income available to shareholders of $21.2 million, compared to $11.6 million from the same period in 2023. GBLI's operating income for H1'24 also witnessed a notable increase, as it climbed ... Read the full article
Global Indemnity sees solid rise in net income in Q1’24
8th May 2024
Global Indemnity Group, LLC has posted a net income available to shareholders of $11.3 million for the first quarter of 2024, compared to $2.4 million for the same period in 2023. According to the firm, the increase in net income was essentially driven by strong underwriting results in the Penn-America excess ... Read the full article
Global Indemnity Group sees big net income improvement in FY23
13th March 2024
Global Indemnity Group, LLC (GBLI) has posted its results for the full-year 2023, which includes a substantial performance in net income, as it reached $25.0 million compared to a net loss of $1.3 million for the corresponding period in 2022. At the same time, adjusted operating income per share was $1.96 ... Read the full article
Exploration of sale or merger of Penn-America and Global Indemnity suspended
7th December 2023
Global Indemnity Group, LLC, a provider of specialty property and casualty insurance coverages, has suspended the exploration of the sale or merger of Penn-America, Global Indemnity’s insurance group, and Global Indemnity itself at this time. Saul Fox, Global Indemnity’s Chairman, stated: “Our merger & acquisition market information that suggested we pursue ... Read the full article
Global Indemnity posts net income in Q2’23 vs year-ago net loss
10th August 2023
Property and casualty insurer Global Indemnity has reported net income available to shareholders of $9.2 million for the second quarter of 2023, compared to net loss available to shareholders of $12.3 million for the corresponding period in 2022. The insurer renewed its property catastrophe excess of loss reinsurance treaty on June ... Read the full article
Global Indemnity says multiple parties interested in merger or acquisition
12th June 2023
Global Indemnity Group, LLC has announced that in recent days, multiple parties indicated a preliminary interest in exploring an acquisition of or merger with Penn-America, Global Indemnity's insurance group, or an acquisition of or merger with Global Indemnity itself. The company is responding to certain of these preliminary indications of interest, ... Read the full article
Global Indemnity reports $23.6m net income for Q3
8th November 2022
Global Indemnity Group has reported a net income of $23.6 million for the third quarter of 2022, compared to a net loss of $7.8 million from the third quarter of 2021. Gross written premiums rose to $175.8 million from $174.3 million in 2021. Gross written premiums for the year currently stand ... Read the full article
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