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Global Indemnity Group, LLC Reports Financial Results for the three and nine months ended September 30, 2026

GBLI
  • Global Indemnity Group reported net income of $8.9 million ($0.61 per share) for the three months ended September 30, 2026, compared to $12.5 million ($0.86 per share) in 2025.
  • For the nine months ended September 30, 2026, net income was $24.2 million ($1.65 per share), an increase from $18.9 million ($1.30 per share) in 2025.
  • Current accident year underwriting income for the third quarter was $5.6 million with a loss ratio of 53.0% and a combined ratio of 94.8%.
  • Belmont Core gross written premiums for the third quarter were $102.6 million, down 5.5% from 2025 levels.
  • Belmont Core gross written premiums for the nine-month period were $316.4 million, essentially flat compared to 2025, excluding terminated business.
  • Jessica E. Buss assumed the role of CEO this week, citing the third quarter's softer results as a deliberate adherence to underwriting standards amidst competitor rate cuts.
  • The company announced plans to expand Katalyx distribution substantially over the next five years starting in 2027.
  • Operating income for the nine months ended September 30, 2026, was $26.4 million, up from $21.8 million in the same period of 2025.
  • Net investment income for the nine-month period was $43.1 million, down from $47.4 million in 2025 due to lower limited partnership returns & fixed income yields.
  • The company lengthened the duration of its fixed income portfolio in September 2026, raising the book yield to 4.8% & duration to 1.5 years.
  • Common shareholders' equity stood at $700.9 million at September 30, 2026, reflecting $12.7 million in unrealized losses on the fixed income portfolio.
  • Book value per share declined 2.2% to $47.87, while book value per share plus cumulative dividends excluding AOCI rose 1.4% to $58.86.
  • Dividends of $15.4 million were paid during the nine months ended September 30, 2026.
  • AM Best affirmed the "A" (Excellent) rating for Global Indemnity Group's U.S. insurance subsidiaries in August 2026.
  • Wholesale Commercial premiums fell 8.6% in the third quarter & 4% for the nine months, while Assumed E&S Reinsurance premiums rose 25% for the nine-month period.
  • Collectibles premiums increased 14% in the third quarter & 13% for the nine months, driven by targeted class opportunities.
  • Specialty Products premiums declined 9.5% in the third quarter & 17.6% for the nine months due to the run-off of terminated products.
  • Pretax Adjusted Operating Contribution was $20.1 million for the three months & $60.0 million for the nine months ended September 30, 2026.
  • Adjusted Return on Equity was 12.8% for the three months & 12.6% for the nine months ended September 30, 2026.