Global Indemnity Group, LLC, provides specialty and niche insurance products nationwide. GBLI focuses on small market property and casualty business. The company has made a concerted effort to reduce its property exposure. The company's largest business within its Commercial Specialty segment targets small, Main Street business written on an excess and surplus lines basis. The company has excess discretionary capital of approximately $125 million. Global Indemnity is expected to show an improvement in underwriting results in 2024. We believe GBLI stock is undervalued and should trade at a small premium to future book value.
