Global Indemnity Group, LLC (NYSE:GBLI) (“GBLI”) today announced that it has spent $21.9 million under its previously announced stock purchase program and authorized an additional repurchase amount of $38.1 million for an aggregate stock purchase program of $60 million. The authorization to repurchase shares will expire on December 31, 2027. The timing and actual number of shares repurchased, if any, will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. Further, GBLI may utilize a variety of stock repurchase methods, including open market purchases or privately negotiated transactions, all in compliance with GBLI’s Insider Trading Policy, the United States Securities and Exchange Commission, and other applicable legal requirements. The repurchase program does not obligate GBLI to acquire any amount of A Common Shares, and the repurchase program may be suspended or discontinued at any time at GBLI’s discretion.
About Global Indemnity Group, LLC and its subsidiaries
Global Indemnity Group, LLC (NYSE:GBLI), through its several direct and indirect wholly owned subsidiary insurance companies, provides both admitted and non-admitted specialty property and casualty insurance coverages and individual policyholder coverages in the United States through its United National/Penn-America Binding & Programs Unit and its InsurTech Unit, as well as reinsurance worldwide.
For more information, visit the Company’s website at www.gbli.com.
The forward-looking statements contained in this press release do not address a number of risks and uncertainties. Investors are cautioned that Global Indemnity’s actual results may be materially different from the estimates expressed in, or implied, or projected by, the forward-looking statements. These statements are based on estimates and information available to us at the time of this press release. All forward-looking statements in this press release are based on information available to Global Indemnity as of the date hereof. Please see Global Indemnity’s filings with the Securities and Exchange Commission for a discussion of risks and uncertainties which could impact the company and for a more detailed explication regarding forward-looking statements. Global Indemnity does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
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Stephen W. Ries
Head of Investor Relations