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WILMINGTON, Del. - Global Indemnity Group, LLC (NYSE:GBLI), a holding company for property and casualty insurance-related businesses, has announced the appointment of Jason C. Murgio to its Board of Directors, effective as of last Monday. Murgio, who is the Principal and CEO of Merger & Acquisition Services, Inc., brings extensive experience in insurance M&A to the board.
Chairman Saul Fox expressed confidence in Murgio’s ability to contribute to GBLI’s growth and innovation, citing a 15-year history of collaboration on strategic initiatives. Murgio himself remarked on the honor of joining the board during a period of significant opportunity for GBLI, which currently offers an attractive 4.48% dividend yield.
Global Indemnity Group’s portfolio includes Penn-America Underwriters, LLC, Belmont Holdings GX, Inc., and Belmont Asset Management, among others. The company’s subsidiaries hold various interests in underwriting agencies, claims adjustment services, insurance software, and investment portfolio management for the property and casualty insurance sector. With annual revenue of $437 million and a solid financial health score, the company maintains a strong market position.
This announcement comes as GBLI continues to navigate an evolving insurance landscape, aiming to leverage Murgio’s expertise to guide its strategic direction. Trading at $31.28, InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers this and 1,400+ other US equities. The information provided is based on a press release statement from Global Indemnity Group, LLC.
In other recent news, Global Indemnity PLC reported a net loss of $4 million for Q1 2025, significantly influenced by $15.6 million in wildfire-related costs. Despite this, the company experienced a 6% increase in consolidated gross premiums, reaching $98.7 million, and a 2% rise in investment income to $14.8 million. The company’s earnings per share (EPS) came in at -$0.30, missing the forecasted $0.10, primarily due to the unexpected wildfire losses. Revenue for the quarter was reported at $14.4 million. Looking ahead, Global Indemnity anticipates a premium growth of at least 10% in 2025, with expectations for improved underwriting performance in the remaining quarters. The company plans to expand its product offerings through organic growth and potential acquisitions. No analyst upgrades or downgrades were reported in connection with the earnings announcement.
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