Global Indemnity Group, LLC Q3 FY2024 earnings call

• Insurance revenue momentum: Total premium excluding terminated products up 12% YTD, driven by 23% Q3 growth in Wholesale Commercial, InsurTech, and Assumed Reinsurance. - Penn-America underwriting: 9-month combined ratio 93.9%, rate increases exceed inflation trends, cat losses down 35% YTD. - Technology: Two-thirds of servers moved to cloud, first transactional app live in Sept, processing wholesale commercial excess liability policies. - Investment: Investment income up 18%, fixed income portfolio with high yields, targeting longer duration maturities.

Insurance revenue momentum: Total premium excluding terminated products up 12% through nine months, driven by 14% YTD growth in Wholesale Commercial, InsurTech, and Assumed Reinsurance. Wholesale Commercial grew 7% to $186.9 million YTD, InsurTech grew 17% to $41.9 million YTD (Vacant Express up 26%, Collectibles slightly up), Assumed Reinsurance gross written premiums grew to $19.3 million in 2024 from $8.4 million in 2023. Specialty Products had flat gross premium YTD. Penn-America: 9-month combined ratio 93.9%, expense ratio 38.2%, accident year underwriting income $17.6 million in 2024 vs $9.7 million in 2023.

• Positive outlook for full year 2024 and 2025. - Penn-America continues strong current accident year performance. - Discretionary capital increased to $240 million at Sept 30, 2024. - Investment portfolio positioned for longer duration maturities and higher yields.

Q: Talk about discontinued lines, timing, and new lines.

A: Discontinued lines have ~$5M earned premium runoff ending 2025; constantly looking for new opportunities, but not immediate with new products likely in 6-9 months.

Q: Buyback shares?

A: No