Global Indemnity Group, LLC reported strong second-quarter 2025 results, with net income available to common shareholders reaching $10.2 million, or $0.71 diluted EPS. This compares to $10.0 million, or $0.73 diluted EPS, in Q2 2024. The company achieved a 61% growth in underwriting income, which surged to $5.8 million in Q2 2025 from $3.5 million in the prior year period.
Gross written premiums increased to $106.8 million in Q2 2025 from $100.7 million in Q2 2024, demonstrating continued premium growth. The combined ratio improved to 94.4% in Q2 2025 from 96.6% in Q2 2024, with the current accident year combined ratio improving to 94.6% from 96.7%. This reflects better non-catastrophe property and casualty loss ratios.
The newly structured Agency and Insurance Services segment generated $15.35 million in total revenues and $2.31 million in underwriting income for the quarter. The Belmont Core segment reported gross written premiums of $109.82 million, a 9.1% increase in net earned premiums to $97.51 million, and $2.73 million in underwriting income. Growth in Belmont Core was robust across Wholesale Commercial (8.1%), Vacant Express (27.1%), Collectibles (4.3%), and Assumed Reinsurance (85.5%).
Net investment income for the quarter was $14.7 million, with an annualized return of 4.9%. The fixed income portfolio's book yield increased to 4.54% at June 30, 2025, with a duration of 1.20 years. The company's discretionary capital stood at $265 million as of June 30, 2025, with the board approving $100 million in aggregate dividends from insurance subsidiaries in July 2025 to enhance liquidity for strategic investments. Book value per share was $48.35 as of June 30, 2025.
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