Global Indemnity swings to Q1 profit

Global Indemnity LLC

05/05/2026 13:09

Overview

US property and casualty insurer's Q1 operating income rose after prior-year loss

Q1 net income turned positive, reversing last year's loss impacted by California Wildfires

Gross written premiums dipped 2% as company maintained pricing amid competitive market

Outlook

Company expects to record full recovery on limited partnership investment in Q2 2026

Result Drivers

UNDERWRITING STABILITY - Underwriting income grew 4% to $5.5 mln, supported by a stable loss ratio and expense ratio

LOWER INVESTMENT INCOME - Net investment income declined to $12.2 mln from $14.8 mln, mainly due to a market value decline on a limited partnership position and mark-to-market adjustments on fixed income securities

Company press release: ID:nGNXb0YKJF

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Gross Written Premiums
$96.50 mln
Q1 Net Income
$4.10 mln
Q1 Combined Ratio
95.10%


Analyst Coverage

Wall Street's median 12-month price target for Global Indemnity Group LLC is $49.00, about 75.4% above its May 4 closing price of $27.94

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 8 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)