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Stock impact report

Penn-America Underwriters Launches Reinsurance MGA: First De Novo Venture in MGA Platform Expansion

Global Indemnity Group, LLC - Class A Common Shares (GBLI) 
Company Research Source: Business Wire
WILMINGTON, Del.--(BUSINESS WIRE)--Global Indemnity Group, LLC (NYSE:GBLI) (“GBLI”) announced today that its subsidiary, Penn-America Underwriters, LLC (“PAU”), is launching its inaugural reinsurance managing general agency (MGA) in partnership with veteran reinsurance executive George Dragonetti, who will also serve as President of the new unit. PAU operates as a division of GBLI specializing in underwriting, growth, and distribution of insurance and reinsurance products, technology solutions, and claims services.Commenting on the announcement, Praveen K. Reddy, President & CEO of Penn-America Underwriters, LLC, remarked: “This launch represents a major milestone in our development as a specialty provider of insurance and reinsurance products and services. In partnership with George Dragonetti and with George at the helm, we are confident in our ability to drive innovation, growth, and superior underwriting performance for our new reinsurance platform.”Saul Fox, Chairman of GBLI, Show less Read more
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