WILMINGTON, DE — Global Indemnity Group LLC (NASDAQ: GBLI) will distribute $0.35 per common share to shareholders later this month, returning capital to investors as the insurance holding company continues to operate a diversified portfolio spanning underwriting, reinsurance, insurance technology and specialty services.
The company’s board approved the distribution, which will be paid June 29 to shareholders of record as of June 18, Global Indemnity disclosed.
The announcement provides investors with an updated view of capital allocation at the property-and-casualty insurance group, which owns insurance carriers, managing general agencies and technology-focused businesses serving specialty insurance markets.
Global Indemnity operates through two primary business segments: Katalyx Holdings LLC and Belmont Holdings GX Inc.
Katalyx includes four agencies involved in sourcing, underwriting and servicing primary insurance and assumed reinsurance business: Penn-America Insurance Services, Valyn Re, J.H. Ferguson & Associates, and Collectibles Insurance Services.
The segment also includes insurance-related service and technology operations, including Kaleidoscope Insurance Technologies, which develops underwriting and policy administration systems, Sayata, an AI-enabled marketplace for small commercial insurance, and Liberty Insurance Adjustment Agency, a claims services provider.
Belmont Holdings GX consists of five insurance carriers: Penn-America Insurance Company, United National Insurance Company, Penn-Patriot Insurance Company, Diamond State Insurance Company and Penn-Star Insurance Company.
All five carriers hold an A (Excellent) financial strength rating from AM Best, according to the company.
Global Indemnity is a publicly traded holding company focused on property-and-casualty insurance-related businesses and services. The company did not provide additional commentary regarding earnings, capital management plans or future distributions in its announcement.
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