Global Indemnity Q3 net income drops to $7.6M; combined ratio 99.7% vs 97.2%

Global Indemnity Group, LLC

2023-Q3 EPS reported $1.39 revenue$418,868,000

Net income $7.6M ($0.55/sh) vs $23.6M ($1.60) in Q3 2022, which included $16.5M gain from Farm, Ranch, & Stable renewal rights.
Gross written premiums $98.9M, down 44% from $175.8M due to planned exit of certain lines; Package Specialty E&S grew 6.1% to $53.5M.
Combined ratio worsened to 99.7% from 97.2%; underwriting income $0.7M vs $4.6M.
Net investment income rose 69% to $14.2M from $8.4M, driven by fixed-income book yield increase to 4.0%.
Book value per share increased 3.1% to $46.27 from $44.87 at year-end 2022.

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 nine months ended September 30, 2023 results: revenue $380.9, net income $19.2, EPS $1.39.

Period: the nine months ended September 30, 2023
Revenue: $380.9
Net income: $19.2
EPS: $1.39
Result: reported results

Exact text from the filing

September 30, 2023 2022 2023 2022 Gross Written Premiums $ 98.9 $ 175.8 $ 332.0 $ 563.6 Net Written Premiums $ 95.6 $ 142.8 $ 317.5 $ 469.5 Net Earned Premiums $ 111.7 $ 153.6 $ 380.9 $ 458.2 Net income (loss) available to shareholders $ 7.6 $ 23.6 $ 19.2 $ (3.5 ) Net income (loss) available to shareholders per share $ 0.55 $ 1.60 $ 1.39 $ (0.24 ) Combined

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Global Indemnity Group, LLC reported the three months ended September 30, 2023 results: revenue $111.7, net income $7.6, EPS $0.55.

Period: the three months ended September 30, 2023
Revenue: $111.7
Net income: $7.6
EPS: $0.55
Result: reported results

Exact text from the filing

Months Ended September 30, 2023 2022 2023 2022 Gross Written Premiums $ 98.9 $ 175.8 $ 332.0 $ 563.6 Net Written Premiums $ 95.6 $ 142.8 $ 317.5 $ 469.5 Net Earned Premiums $ 111.7 $ 153.6 $ 380.9 $ 458.2 Net income (loss) available to shareholders $ 7.6 $ 23.6 $ 19.2 $ (3.5 ) Net income (loss) available to shareholders per share $ 0.55 $ 1.60 $ 1.39 $ (0.24

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Source: SEC EDGAR

accession 0001193125-23-273021

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