Global Indemnity Group LLC

For the period ended Dec 31, 2024. Filed Mar 11, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 11, 2025

GBLI$21.95-1.4%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statem ents of Cash Flows

	Years Ended December 31,
	2024	2023	2022
Cash flows from operating activities:
Net income (loss)	$43,241	$25,429	$(850)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization and depreciation	5,764	6,199	8,398
Amortization of debt issuance costs	—	—	41
Gross proceeds from sale of renewal rights	—	—	(30,000)
Adjustment on lease right of use assets and lease liability	(917)	—	—
Impairment loss on lease right of use assets	—	—	488
Impairment loss on furniture and fixtures and leasehold improvements	394	—	—
Impairment loss on software	—	—	508
Impairment loss on goodwill and intangible assets	—	—	5,657
Restricted stock and stock option expense	4,787	3,486	3,899
Deferred federal income taxes	11,300	5,326	2,395
Amortization of bond premium and discount, net	(15,656)	(6,749)	1,267
Net realized investment (gains) losses	(455)	2,107	32,929
Loss on extinguishment of debt	—	—	3,529
(Income) loss from equity method investments, net of distributions	(80)	(2,369)	6,549
Changes in:
Premium receivables, net	27,070	66,585	(40,299)
Reinsurance receivables, net	13,584	5,282	14,143
Funds held by ceding insurers	(13,109)	2,142	8,785
Unpaid losses and loss adjustment expenses	(50,208)	18,195	72,500
Unearned premiums	559	(86,501)	(47,213)
Reinsurance balances payable	5,539	(14,599)	(18,099)
Other assets and liabilities	5,301	(14,970)	(12,814)
Contingent commissions	1,194	(3,184)	913
Federal income tax receivable / payable	(2,420)	1,595	—
Deferred acquisition costs	1,309	22,449	(4,563)
Prepaid reinsurance premiums	1,638	12,463	36,073
Net cash provided by operating activities	38,835	42,886	44,236
Cash flows from investing activities:
Proceeds from sale of fixed maturities	112,507	148,164	933,554
Proceeds from sale of equity securities	—	1,158	88,726
Proceeds from maturity of fixed maturities	973,523	280,115	81,546
Proceeds from maturity of preferred stock	5,534	500	1,000
Proceeds from other invested assets	8,902	2,309	107,925
Amounts received in connection with derivatives	—	—	12,726
Purchases of fixed maturities	(1,139,971)	(448,465)	(1,164,683)
Purchases of equity securities	—	(111)	(10,660)
Gross proceeds from sale of renewal rights	—	—	30,000
Net cash provided by (used for) investing activities	(39,505)	(16,330)	80,134
Cash flows from financing activities:
Distributions paid to common shareholders	(19,389)	(14,248)	(14,366)
Distributions paid to preferred shareholders	(440)	(440)	(440)
Purchases of class A common shares	(529)	(12,677)	(22,335)
Issuance of class A common shares	—	—	3,339
Redemption of subordinated notes	—	—	(130,000)
Net cash used for financing activities	(20,358)	(27,365)	(163,802)
Net change in cash and cash equivalents	(21,028)	(809)	(39,432)
Cash and cash equivalents at beginning of period	38,037	38,846	78,278
Cash and cash equivalents at end of period	$17,009	$38,037	$38,846

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