{"id":523624,"date":"2021-08-04T17:08:13","date_gmt":"2021-08-04T21:08:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/global-indemnity-group-llc-reports-second-quarter-2021-results\/"},"modified":"2021-08-04T17:08:13","modified_gmt":"2021-08-04T21:08:13","slug":"global-indemnity-group-llc-reports-second-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/global-indemnity-group-llc-reports-second-quarter-2021-results\/","title":{"rendered":"Global Indemnity Group, LLC Reports Second Quarter 2021 Results"},"content":{"rendered":"
\n

BALA CYNWYD, Pa., Aug. 04, 2021 (GLOBE NEWSWIRE) — Global Indemnity Group, LLC (NASDAQ:GBLI) (the \u201cCompany\u201d) today reported net income available to shareholders of $11.7 million for the six months ended June 30, 2021 compared to net loss available to shareholders of ($7.0) million for the corresponding period in 2020. Adjusted operating income was $4.0 million for the six months ended June 30, 2021 compared to $17.5 million for the corresponding period in 2020, which period included a $19.9 million release of prior year reserves as compared to a $2.1 million increase in prior year reserves in the current period. Gross Written Premiums increased 5.8% to $338.8 million for the six months ended June 30, 2021, including 9.4% growth in the Company\u2019s core Commercial Specialty business segment. Gross Written Premiums of $338.8 million is the highest in any six month period since the Company became publicly traded.<\/p>\n

\n Selected Operating and Balance Sheet Information <\/strong>
\n
(Dollars in millions, except per share data)<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n For the Three Months<\/strong>
\n
\n Ended June 30,<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n For the Six Months<\/strong>
\n
\n Ended June 30,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross Written Premiums<\/td>\n\u00a0<\/td>\n$<\/td>\n175.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n164.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n338.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n320.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Written Premiums<\/td>\n\u00a0<\/td>\n$<\/td>\n160.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n147.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n308.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n286.4<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss) available to shareholders<\/td>\n\u00a0<\/td>\n$<\/td>\n6.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n37.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(7.0<\/td>\n)<\/td>\n<\/tr>\n
Net income (loss) available to shareholders per share<\/td>\n\u00a0<\/td>\n$<\/td>\n0.43<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2.61<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.49<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted operating income<\/td>\n\u00a0<\/td>\n$<\/td>\n2.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n17.5<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted operating income per share<\/td>\n\u00a0<\/td>\n$<\/td>\n0.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.52<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.28<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.22<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Combined ratio analysis:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n62.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n50.6<\/td>\n%<\/td>\n<\/tr>\n
Expense ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38.4<\/td>\n%<\/td>\n<\/tr>\n
Combined ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n99.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n89.0<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n As of<\/strong>
\n
\n June 30,<\/strong>
\n
\n 2021<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n As of<\/strong>
\n
\n March 31,<\/strong>
\n
\n 2021<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n As of<\/strong>
\n
\n December 31,<\/strong>
\n
\n 2020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Book value per share (1)<\/em><\/td>\n$<\/td>\n48.79<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n48.00<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n49.62<\/td>\n\u00a0<\/td>\n<\/tr>\n
Shareholders\u2019 equity (2)<\/em><\/td>\n$<\/td>\n709.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n696.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n718.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and invested assets (3)<\/em><\/td>\n$<\/td>\n1,476.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,429.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,449.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\n (1) Net of cumulative Company distributions\/dividends to common shareholders totaling $3.50 per share, $3.25 per share, and $3.00 per share as of June 30, 2021, March 31, 2021, and December 31, 2020, respectively.<\/em>\n <\/td>\n<\/tr>\n
\n (2) Shareholders\u2019 equity includes $4 million of series A cumulative fixed rate preferred shares.<\/em>\n <\/td>\n<\/tr>\n
\n (3) Including receivable\/(payable) for securities sold\/(purchased).<\/em>\n <\/td>\n<\/tr>\n<\/table>\n

\n Selected Financial Data for the Three Months Ended June 30, 2021: <\/strong>\n <\/p>\n