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Stock impact report

Global Indemnity Limited Reports Second Quarter 2018 Financial Results

Global Indemnity Group, LLC Class A (DE) (GBLI) 
Company Research Source: GlobeNewswire
GEORGE TOWN, Cayman Islands, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Global Indemnity Limited (NASDAQ:GBLI) today reported net income for the six months ended June 30, 2018 of $12.9 million or $0.90 per share. Adjusted operating income, which excludes after-tax realized gains and expenses related to the restructuring of debt, was $22.8 million or $1.60 per share. The combined ratio was 93.5%, a 2.0 point improvement over the same period in 2017, and investment income was $22.4 million, an increase of 27.9% compared to the same period in 2017. For the first six months of 2018, gross written premiums excluding discontinued lines increased 11.7% compared to the same period in 2017. Book value per share decreased by 2.3% to $49.41 at June 30, 2018 compared to December 31, 2017 mainly due to unrealized losses on the fixed income portfolio due to rising interest rates.  During the first six months of 2018, the Company declared and paid dividends of $0.50 per share to shareholders. Selected Ope Show less Read more
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