Global Indemnity Group, LLC reported its financial results for the second quarter and first half of 2025, revealing a modest increase in gross written premiums and net income. For the quarter ended June 30, 2025, gross written premiums rose by 6.1% to $106.8 million, compared to $100.7 million in the same period last year. Net income for the quarter was $10.3 million, or $0.71 per diluted share, slightly up from $10.1 million, or $0.73 per diluted share, in the prior year. For the first half of 2025, net income totaled $6.4 million, a significant decrease from $21.5 million in the same period of 2024, primarily due to increased losses from the California Wildfires.

The company’s total revenues for the second quarter increased by 2.7% to $110.5 million, driven by a rise in net earned premiums, which reached $95.1 million, up from $92.8 million a year earlier. However, net investment income decreased by 3.9% to $14.7 million, attributed to losses from limited partnerships. The current accident year combined ratio improved to 94.6% from 96.7% in the previous year, indicating better underwriting performance.

In terms of operational developments, Global Indemnity has undergone a significant internal reorganization, resulting in the establishment of three reportable segments: Agency and Insurance Services, Belmont Insurance Companies - Core, and Belmont Insurance Companies - Non-Core. This restructuring aims to enhance operational efficiency and capitalize on growth opportunities. The Agency and Insurance Services segment generated $15.4 million in revenues during the second quarter, reflecting the impact of new affiliated service agreements that commenced in January 2025.

The company’s total assets remained stable at approximately $1.7 billion as of June 30, 2025, with shareholders' equity increasing to $695.3 million from $689.1 million at the end of the previous fiscal period. The company reported no debt and maintained a strong liquidity position, with cash and cash equivalents rising to $67.3 million from $17.0 million at the end of 2024. Looking ahead, Global Indemnity anticipates continued growth in gross written premiums and improved underwriting results, although it remains cautious about potential impacts from market conditions and claims related to natural disasters.

About Global Indemnity Group, LLC

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