WILMINGTON, DE — Global Indemnity Group, LLC (NYSE: GBLI) announced that its subsidiary, Penn-America Underwriters, LLC (PAU), has launched its first reinsurance managing general agency (MGA) in partnership with veteran reinsurance executive George Dragonetti, who will serve as President of the new unit.
The move marks a significant expansion for PAU, which operates as a division of GBLI focused on underwriting, distribution, technology solutions, and claims services for specialty insurance and reinsurance products.
“This launch represents a major milestone in our development as a specialty provider of insurance and reinsurance products and services,” said Praveen K. Reddy, President and CEO of Penn-America Underwriters. “In partnership with George Dragonetti and with George at the helm, we are confident in our ability to drive innovation, growth, and superior underwriting performance for our new reinsurance platform.”
Saul Fox, Chairman of GBLI, described the venture as a strategic step forward for the company’s broader growth initiative. “Partnering with George Dragonetti to establish this innovative MGA marks a strategic leap forward for the company’s multi-prong Manifest initiative, underscoring GBLI’s commitment to expanding its capabilities across both specialized insurance and reinsurance solutions,” he said.
Fox noted that Dragonetti brings more than 30 years of experience in reinsurance, including 13 years in Bermuda and 20 years in the United States. His career includes leadership roles in developing tailored reinsurance solutions and building high-performing teams.
“I am honored to partner with PAU and to head up its MGA reinsurance business,” Dragonetti said. “I look forward to working closely with the leadership team to accelerate growth and deliver underwriting excellence. Beyond driving the success of our reinsurance business, I am eager to contribute to PAU’s broader strategy and long-term objectives.”
Before joining PAU, Dragonetti served as Head of Property at Emerald Bay Risk Solutions and previously held leadership roles at Nav Re and RLI Re, both recognized for their expertise in complex reinsurance solutions.
Global Indemnity Group, headquartered in Wilmington, Delaware, is a publicly listed holding company for property and casualty insurance-related businesses. Its operations include multiple agencies under PAU—such as Penn-America Insurance Services, J.H. Ferguson and Associates, and Collectibles Insurance Services—as well as technology, marketplace, and claims subsidiaries. GBLI’s insurance carriers, operating under Belmont Holdings GX, Inc., are rated “A” (Excellent) by AM Best.
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