Global Indemnity’s underwriting income up 61% for Q2’25

Global Indemnity Group, LLC (GBLI) has reported that current accident year underwriting income grew 61% to $5.6 million for the second quarter of 2025, compared to $3.5 million in the comparable prior year quarter.

In Q2’25, the firm recorded continued premium growth, with gross written premiums (GWP) increasing by 6% to $106.8 million, compared to $100.7 million for Q2’24. Excluding terminated products, GWP increased 18% to $109.9 million in Q2’25 compared to $93.4 million in Q2’24.

GBLI’s current accident year combined ratio was 94.6% for Q2’25 compared to 96.7% for Q2’24. Meanwhile, net losses and loss adjustment expenses related to prior accident years were less than $0.1 million for the quarter.

The firm’s Assumed Reinsurance unit increased by 86% to $12 million in Q2’25, driven by new treaties incepting during 2024 and 2025.

The Vacant Express and Collectibles unit in aggregate grew by 20% to $16.6 million for Q2’25 from organic agency growth, new agency appointments, and new products.

Meanwhile, Wholesale Commercial grew 8% to $69.1 million, driven by premium rate increases, organic agency growth, new agency appointments, and new products.

Taking a look at investments, GBLI’s net investment income dipped to $14.7 million in Q2’25 compared to $15.3 million in Q2’24. The net investment income from the fixed maturities portfolio increased 2% to $15.3 million compared to $15 million in Q2’24.

Lastly, net income available to common shareholders for the quarter is $10.2 million or $0.71 per share, compared to $10 million or $0.73 per share in Q2’24. The annualised investment return was 4.9% in the quarter.