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 Penn-America segment targets small, Main Street business written on an excess and surplus lines basis. The company has excess discretionary capital of approximately $251 million. Global Indemnity is expected to show continued improvement in underwriting results in 2025. We believe GBLI stock is undervalued and should trade at a small premium to future book value.
