Global Indemnity reports Q1 net income of $2.4M vs loss of $14.9M; combined ratio 101%

Global Indemnity Group, LLC

2023-Q1 EPS reported $0.17 revenue$150,914,000

Net income available to shareholders $2.4M ($0.17 per share) vs net loss of $14.9M ($1.03 per share) in Q1 2022.
Adjusted operating income $3.4M vs $3.8M; gross written premiums down 36% to $123M from $191M.
Combined ratio 101% (loss ratio 62.8%, expense ratio 38.2%) vs 95% in prior year.
Net investment income rose 82% to $12.0M; book yield on fixed income increased to 3.6% from 2.3%.
Full-year 2023 Commercial Specialty gross written premium guidance: $415M-$430M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Global Indemnity Group, LLC reported the three months ended March 31, 2023 results: net income $2.4 million, EPS $0.17. Guidance initiated.

Period: the three months ended March 31, 2023
Net income: $2.4 million
EPS: $0.17
Guidance: initiated
Result: reported results

Exact text from the filing

Global Indemnity Group, LLC Reports First Quarter 2023 Results Wilmington, Del., (May 10, 2023) – Global Indemnity Group, LLC (NYSE:GBLI) (the “Company”) today reported net income available to shareholders for the three months ended March 31, 2023, of $2.4 million compared to net loss available to shareholders of $14.9 million for the corresponding period in 2022. Adjusted operating income, which excludes realized gains and losses and the results of Exited Lines, was $3.4 million for the three months ended March 31, 2023, compared to $3.8 million for the three months ended March 31, 2022. Selected Operating and Balance Sheet Information Consolidated Results Including Continuing Lines and Exited Lines (Dollars in millions, except per share data) For the Three Months Ended March 31, 2023 2022 Gross Written Premiums $ 123.0 $ 191.0 Net Written Premiums $ 115.9 $ 159.5 Net Earned Premiums $ 140.1 $ 148.8 Net income (loss) available to shareholders $ 2.4 $ (14.9 ) Net income (loss) from Con

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Source: SEC EDGAR

accession 0001193125-23-140120

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