Global Indemnity ( (GBLI) ) has released its Q1 earnings. Here is a breakdown of the information Global Indemnity presented to its investors.
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Global Indemnity Group, LLC is a publicly traded holding company specializing in property and casualty insurance-related businesses, with operations across various insurance agencies and service providers.
In the first quarter of 2025, Global Indemnity reported a net loss of $4.1 million, primarily due to the impact of California Wildfires, which accounted for a $12.2 million after-tax loss. Excluding these events, the company would have achieved a net income of $8.1 million.
Key financial metrics for the quarter included a 2% increase in net investment income to $14.8 million and a 6% rise in gross written premiums to $98.7 million. The company’s InsurTech segment saw a 20% growth, while assumed reinsurance premiums surged by 275%. However, the current accident year underwriting loss was $10.3 million, largely influenced by the wildfires.
Despite the challenges, Global Indemnity’s investment portfolio maintained a steady annualized return of 5.4%. The company’s shareholders’ equity slightly decreased to $687.1 million, with a book value per share of $47.85.
Looking ahead, Global Indemnity remains focused on strategic growth and operational efficiency, with ongoing investments in its Penn-America Underwriters segment to enhance its capabilities and market position.