GBLI Q2 net loss $0.84/sh; sells Farm Ranch for $30M; prepays $130M debt

Global Indemnity Group, LLC

2022-Q2 EPS reported -$1.87 revenue$278,316,000

Q2 net loss $12.3M ($0.84 EPS) vs net income $6.3M ($0.43 EPS) in Q2 2021; adjusted operating income $1.8M vs $8.7M.
Sold Farm, Ranch and Stable renewal rights for $30.0M to Everett Cash Mutual; American Reliable sale for ~$10M expected Q1 2023.
Prepaid $130M of debt on April 15, 2022, resulting in $3.5M write-off of deferred debt costs.
Sold ~$360M of fixed income securities with maturities >5 yrs (avg yield 2.3%), realized losses $9.9M in Q2 and $35.3M in H1; book yield increased to 2.7%.
Book value per share fell to $43.68 from $48.44 at Dec 2021; continuing lines gross written premiums up 26.1% YoY.

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