Global Indemnity Group, LLC Reports Full Year 2025 Financial Results
Accident Year 2025 Underwriting Profitability Improves Across Every Quarter; Current Accident Year Combined Ratio Excluding California Wildfires Reaches 92.2%
WILMINGTON, Del., March 10, 2026 (GLOBE NEWSWIRE) -- Global Indemnity Group, LLC (Nasdaq: GBLI) (the "Company") today reported financial results for the twelve months ended December 31, 2025. The year was defined by two distinct narratives: a significant California Wildfire loss event in January 2025, and a steady, quarter-by-quarter improvement in underlying underwriting performance that continued through year end. Net losses from the California Wildfires totaled $15.7 million pre-tax ($12.0 million after-tax). Excluding this event, the Company's current accident year combined ratio improved in each successive period throughout 2025, reaching 92.2% for the full year compared to 95.4% in 2024.This improvement drove a 17.5% increase in Pretax Adjusted Operating Contribution to $95.4 million in 2025 from $81.2 million in 2024 and contributed to a higher Adjusted Return on Equity of 14.7% in 2025 compared to 12.7% in 2024.
Highlights of Consolidated Results for the Twelve Months Ended December 31, 2025
Operating Performance (Excluding California Wildfires)
As-Reported Operating Performance
Investment Results
Premium Growth
Capital Position and Book Value
(1) includes 550,000 class A common shares designated as class A-2 common shares issued on March 6, 2025 for services performed in connection with the Company’s internal corporate reorganization.
(1) Most directly comparable GAAP measure / ratio
(2) Non-GAAP financial measure / ratio
(3) Represents net losses and loss adjustment expenses of $15.7 million less tax benefit of $3.8 million.
(4) See previous table for reconciliation of operating income to net income which is the most directly comparable GAAP measure.
About Global Indemnity Group, LLC
Global Indemnity Group, LLC (Nasdaq: GBLI) is a publicly traded holding company with a diversified portfolio of property and casualty insurance-related entities.
Katalyx Holdings LLC includes:
Belmont Holdings GX, Inc. consists of five statutory insurance carriers, each rated “A” (Excellent) by AM Best:
Penn-America Insurance Company, United National Insurance Company, Penn-Patriot Insurance Company, Diamond State Insurance Company, and Penn-Star Insurance Company.
For more information, visit the Company’s website at www.gbli.com.
Forward-Looking Statements
The forward-looking statements in this press release are made pursuant to the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934 and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in such statements. These statements are based on management’s current expectations and information available as of the date of this release.
Factors that could cause actual results to differ include, among others, risks related to the timing and execution of the Company’s strategy, and other operational or strategic risks. Additional details regarding these and other risks and uncertainties can be found in the Company’s filings with the Securities and Exchange Commission. Global Indemnity undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances.
Investor / Media Contact: Scott Eckstein / Patrick Federle, KCSA Strategic Communications | (212) 896-1210 | GBLI@kcsa.com