Stock market today: Nasdaq closes above 23,000 for first time as tech rebounds
WILMINGTON - Global Indemnity Group, LLC (NYSE:GBLI), a profitable insurance holding company with a market capitalization of $435 million and current stock price of $30.45, announced Tuesday that its subsidiary Penn-America Underwriters, LLC (PAU) has completed the acquisition of Sayata, an AI-enabled digital marketplace for commercial insurance. According to InvestingPro data, GBLI maintains a healthy dividend yield of 4.72% and has demonstrated consistent profitability over the last twelve months.
The acquisition aligns with GBLI’s recent strategic reorganization of its PAU business to focus on agency and insurance services. The company, which generated revenue of $439.28 million in the last twelve months, expects the deal to expand its distribution capabilities, product portfolio, and technology offerings. InvestingPro analysis shows the company trades at a P/E ratio of 15.23, suggesting reasonable valuation metrics for the insurance sector.
Praveen K. Reddy, President and CEO of PAU, stated that the acquisition supports the company’s strategy to deliver faster distribution solutions for specialty insurance and new products.
Sayata, which has supported over ten thousand insurance professionals across the U.S., offers an AI-enabled digital platform that facilitates distribution of commercial Property & Casualty insurance products. The company has placed tens of thousands of policies and partnered with carriers to offer commercial insurance products.
"Our focus for years has been delivering a fantastic experience for our customers and partners," said Asaf Lifshitz, co-founder and CEO of Sayata, in the press release.
GBLI Chairman Saul Fox noted that Sayata’s technology and industry partnerships align with the company’s vision under its Project Manifest initiative.
Global Indemnity Group is a publicly listed holding company for property and casualty insurance-related businesses. Its PAU subsidiary consists of three agencies and three strategic insurance product and service businesses, including the newly acquired Sayata.
Financial terms of the acquisition were not disclosed in the announcement. Based on InvestingPro’s Fair Value analysis, GBLI currently appears slightly undervalued, suggesting potential upside for investors. For detailed insights and additional ProTips about GBLI’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Global Indemnity PLC reported its second-quarter earnings for 2025, which fell short of analyst expectations. The company announced an earnings per share (EPS) of $0.71, missing the forecasted EPS of $0.85. This represented a negative surprise of 16.47%. Despite the earnings miss, Global Indemnity showed resilience with stable net income and improvements in underwriting income. These recent developments indicate the company’s ability to maintain financial stability even when earnings projections are not met. Additionally, the stock saw a decline in pre-market trading, reflecting investor reactions to the earnings report.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.