Global Indemnity plc Provides Earnings Guidance for the Third Quarter and Nine Months Ending September 30, 2015
October 29, 2015 at 03:30 pm IST
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Global Indemnity plc provided earnings guidance for the third quarter and nine months ending September 30, 2015. Net loss for the three months ending September 30, 2015 is anticipated to be approximately $4 million (primarily due to claims related to the recent California wildfires, as well as $10.8 million of capital losses) compared to net income of $9.8 million for the 2014 comparable period.
The company announced net income for the nine months ending September 30, 2015 is anticipated to be approximately $14 million versus $51.8 million for the comparable 2014 period.
Global Indemnity Group, LLC provides both admitted and non-admitted specialty property and specialty casualty insurance coverages and individual policyholder coverages in the United States, and reinsurance worldwide. Its segments include Penn-America and Non-Core Operations. The Penn-America segment includes all core products which include Wholesale Commercial, Programs, Assumed Reinsurance, and the InsurTech products. The Penn-America segment distributes specialty property and casualty insurance products in the excess and surplus lines marketplace. InsurTech products are Collectibles, VacantExpress and smaller products which are distributed via the Internet. The Non-Core Operations segment represents lines of business that have been de-emphasized or are no longer being written. Non-Core Operations includes manufactured and dwelling home business, farm, ranch and equine business, specialty personal lines products, such as motorcycle, watercraft, and certain homeowners and others.
GLOBAL INDEMNITY GROUP, LLC 
